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UPS Retirement Topics
Is Central States pension fund ready to go under?
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<blockquote data-quote="mittam" data-source="post: 184069" data-attributes="member: 1223"><p>JOnfrum, the by-laws and constitution were ratified by APWA members, the APWA also has the medical company and financial company ready to go, unfortunately with teamster pressures on those companies they will not divulge the info on them. the bylaws and such are in place and those that are members can get copies of them if they like.the website updates haven't occurred for the same reasons as above, they know that the teamsters monitor their site and do not want to give out too much info. The phone numbers are there to let you call them if you have questions.To answer about looting taking place, I guess only the officials collecting the pension monies know exactly where it goes. There is 60 % of what we get each week going elsewhere, see the McDivett report, the statements John McDivett made before the supreme court on the state of multi-employers pensions. He stated there that UPS people only get 40% of the pension monies put into the cs pension fund. I also would like to know where the other 60% goes. At this point we can only guess. I am sure however it does not go to the 2 and 3 pensions that teamster officials collect upon retiring. Generating a chart for the retirement can only be done hypothetically taking a fund and going back 20 or 30 years. This is the way any financial advisor will do it if you go to one and want to start a fund.They can lose their securities license for projecting. We will have a contract whether it is before or after the current one. We will not work without a contract. This is a new union starting up and people have the chance to vote it in, therefore it is not a desertification vote and we will have representation and a contract from the start.</p></blockquote><p></p>
[QUOTE="mittam, post: 184069, member: 1223"] JOnfrum, the by-laws and constitution were ratified by APWA members, the APWA also has the medical company and financial company ready to go, unfortunately with teamster pressures on those companies they will not divulge the info on them. the bylaws and such are in place and those that are members can get copies of them if they like.the website updates haven't occurred for the same reasons as above, they know that the teamsters monitor their site and do not want to give out too much info. The phone numbers are there to let you call them if you have questions.To answer about looting taking place, I guess only the officials collecting the pension monies know exactly where it goes. There is 60 % of what we get each week going elsewhere, see the McDivett report, the statements John McDivett made before the supreme court on the state of multi-employers pensions. He stated there that UPS people only get 40% of the pension monies put into the cs pension fund. I also would like to know where the other 60% goes. At this point we can only guess. I am sure however it does not go to the 2 and 3 pensions that teamster officials collect upon retiring. Generating a chart for the retirement can only be done hypothetically taking a fund and going back 20 or 30 years. This is the way any financial advisor will do it if you go to one and want to start a fund.They can lose their securities license for projecting. We will have a contract whether it is before or after the current one. We will not work without a contract. This is a new union starting up and people have the chance to vote it in, therefore it is not a desertification vote and we will have representation and a contract from the start. [/QUOTE]
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Is Central States pension fund ready to go under?
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