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Brown Cafe UPS Forum
UPS Retirement Topics
local 804 pension problems
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<blockquote data-quote="Cezanne" data-source="post: 143504" data-attributes="member: 5104"><p>Just how much the new pension reform bill has to if these changes should be the first question that is brought at your local meeting. If the pension fund was running in the red for a while and drops below to the "so-called red line provision" there is nothing to do about the cuts. No matter how the membership or officials complain, beyond manufacturing money or a few billion dollars that these companies are willingly going to contribute you guys will have to live with these changes. Considering that I am in the Central States area, your cuts do not appear to be that drastic, YET. Again watch your health and welfare costs for early retirement, great controllng influence to whether any of you guys are retiring soon. Funny but there should of been hints that your trust was getting underfunded over the years, this event does not happen overnight. In the Central States fiasco, there was no real information about the cuts, considering the "2002 best ever contract" with UPS. That changed about a one later catching most of us off guard, then the blame game started.</p></blockquote><p></p>
[QUOTE="Cezanne, post: 143504, member: 5104"] Just how much the new pension reform bill has to if these changes should be the first question that is brought at your local meeting. If the pension fund was running in the red for a while and drops below to the "so-called red line provision" there is nothing to do about the cuts. No matter how the membership or officials complain, beyond manufacturing money or a few billion dollars that these companies are willingly going to contribute you guys will have to live with these changes. Considering that I am in the Central States area, your cuts do not appear to be that drastic, YET. Again watch your health and welfare costs for early retirement, great controllng influence to whether any of you guys are retiring soon. Funny but there should of been hints that your trust was getting underfunded over the years, this event does not happen overnight. In the Central States fiasco, there was no real information about the cuts, considering the "2002 best ever contract" with UPS. That changed about a one later catching most of us off guard, then the blame game started. [/QUOTE]
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