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Brown Cafe UPS Forum
UPS Union Issues
HOFFA , HALL AND OBRIEN campaign announcement
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<blockquote data-quote="Inthegame" data-source="post: 1599417" data-attributes="member: 37112"><p>This is where the Hoffa hatred gets people off track. Multiple pensions don't come from the same bucket, so even if the named parties enjoy the alleged pensions, that hasn't had any impact on the Central States decline.</p><p>Lead Belly's issue is valid as Ron Carey pushed hard for the "service pension model" (25, 30 and outs) on plans designed to pay at target ages 60 or 65. When you start paying early, the principal (reserves) diminish that much faster causing great stress to overperform the market. Worked fine in the nineties when monkeys made money investing, not so much since then.</p><p>Take UPS out in 2007, market crash in 2008, and here we are.</p></blockquote><p></p>
[QUOTE="Inthegame, post: 1599417, member: 37112"] This is where the Hoffa hatred gets people off track. Multiple pensions don't come from the same bucket, so even if the named parties enjoy the alleged pensions, that hasn't had any impact on the Central States decline. Lead Belly's issue is valid as Ron Carey pushed hard for the "service pension model" (25, 30 and outs) on plans designed to pay at target ages 60 or 65. When you start paying early, the principal (reserves) diminish that much faster causing great stress to overperform the market. Worked fine in the nineties when monkeys made money investing, not so much since then. Take UPS out in 2007, market crash in 2008, and here we are. [/QUOTE]
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