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UPS Retirement Topics
local 804 pension problems
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<blockquote data-quote="wkmac" data-source="post: 144771" data-attributes="member: 2189"><p>Cezanne,</p><p>I would agree that there are many reasons the pensions are facing crisis but you seem to contradict yourself above. </p><p> </p><p></p><p> </p><p>So what you are suggesting then is these folks are only drawing out what they put in and nothing more that is taken from other sources meaning members from other active companies. If that's true then why make the following statement.</p><p> </p><p></p><p> </p><p>Why are new participants needed? According to your plan, their (new participants) monetary contributions are stored away and invested for their future use when they retire. Why would <strong><em>new participants</em></strong> be needed if as you say Yellow Frieghters use Yellow Freight money, UPSer's use UPS money and the defunct Bee-Bo's Truckline employees are only using Bee-Bo money before they went belly up. According to your explaination the <strong>"When a plan gets into trouble it is generally due to lack of new participants" </strong>should never had been made in the post or even under any consideration at all. What you are suggesting is currently present in the system is a kind of partition that UPS presented a couple of years ago that oddly enough the IBT and fellow travelers fought tooth and nail to keep out. Funny they would fight so hard to keep out what you are suggesting they have!</p></blockquote><p></p>
[QUOTE="wkmac, post: 144771, member: 2189"] Cezanne, I would agree that there are many reasons the pensions are facing crisis but you seem to contradict yourself above. So what you are suggesting then is these folks are only drawing out what they put in and nothing more that is taken from other sources meaning members from other active companies. If that's true then why make the following statement. Why are new participants needed? According to your plan, their (new participants) monetary contributions are stored away and invested for their future use when they retire. Why would [B][I]new participants[/I][/B] be needed if as you say Yellow Frieghters use Yellow Freight money, UPSer's use UPS money and the defunct Bee-Bo's Truckline employees are only using Bee-Bo money before they went belly up. According to your explaination the [B]"When a plan gets into trouble it is generally due to lack of new participants" [/B]should never had been made in the post or even under any consideration at all. What you are suggesting is currently present in the system is a kind of partition that UPS presented a couple of years ago that oddly enough the IBT and fellow travelers fought tooth and nail to keep out. Funny they would fight so hard to keep out what you are suggesting they have! [/QUOTE]
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