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Brown Cafe UPS Forum
UPS Retirement Topics
Is Central States pension fund ready to go under?
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<blockquote data-quote="Bill" data-source="post: 179988" data-attributes="member: 5483"><p>What does the pension of GM have to do with the pension of UPS employees? There is a big difference that you overlook. GM controlled its employee pension plan, and they manipulated it any way they wanted. However, the APWA plan differs such that the company (UPS) only contributes money into a pension plan, but is managed by the union (whether it be the Teamsters or the APWA). The big advantage of the APWA plan over the Teamsters is that all the money would go to the employees of UPS, whereby under the Teamsters, our money is shared with all the other Central States employees, thus we receive only 40% of our money, or less every year that we remain in the multipension plan. Currently, UPS puts $214 per week per employee into the pension plan, but we are credited only $86 per week. Why should we accept this?</p></blockquote><p></p>
[QUOTE="Bill, post: 179988, member: 5483"] What does the pension of GM have to do with the pension of UPS employees? There is a big difference that you overlook. GM controlled its employee pension plan, and they manipulated it any way they wanted. However, the APWA plan differs such that the company (UPS) only contributes money into a pension plan, but is managed by the union (whether it be the Teamsters or the APWA). The big advantage of the APWA plan over the Teamsters is that all the money would go to the employees of UPS, whereby under the Teamsters, our money is shared with all the other Central States employees, thus we receive only 40% of our money, or less every year that we remain in the multipension plan. Currently, UPS puts $214 per week per employee into the pension plan, but we are credited only $86 per week. Why should we accept this? [/QUOTE]
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Is Central States pension fund ready to go under?
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