More gloom and doom..CS is tanking

[Catatonic]

Anyone else get their letter today from the Central States Pension Fund?

Looks like a reduction in benefits is becoming inevitable.


Town Hall Meeting Calls

1-877-327-9495 passcode 111566

Retirees: April 14th 5 pm Central

Active: April 14th 8 pm Central

 

[hellfire]

Just got this wonderful letter from the central states pension fund. Cutbacks are coming

 

[BigUnionGuy]

Just got this wonderful letter from the central states pension fund. Cutbacks are coming

Lets see a picture of the letter you received.

 

[IVE GOTTA PACKAGE 4U]

Lets see a picture of the letter you received.

With the new USA budget,than can do some heavy cuts to underfunded pension funds. I haven't heard of any plans doing it...yet. But its coming. To an underfunded plan soon!

 

[oldngray]

This was certain to happen eventually after UPS pulled out and CS blew through the payout money.

 

[BigUnionGuy]

With the new USA budget,than can do some heavy cuts to underfunded pension funds. I haven't heard of any plans doing it...yet. But its coming. To an underfunded plan soon!

Central States had a meeting on 4/8/15.

And hellfire.... says he already has written correspondence.


I call BS.



-Bug-

 

[oldngray]

Central States had a meeting on 4/8/15.

And hellfire.... says he already has written correspondence.


I call BS.



-Bug-

It doesn't pass the smell test. But if you read it on the internet it must be true!

 

[UpstateNYUPSer(Ret)]

Central States had a meeting on 4/8/15.

And hellfire.... says he already has written correspondence.


I call BS.



-Bug-

Our BA had similar correspondence at our meeting this morning.

 

[oldngray]

My concern is about the UPS promise to cover any shortages from Central States. It wouldn't surprise me if they tried to wiggle out of that agreement.

 

[UpstateNYUPSer(Ret)]

My concern is about the UPS promise to cover any shortages from Central States. It wouldn't surprise me if they tried to wiggle out of that agreement.

This is covered in that letter.

 

[oldngray]

This is covered in that letter.

What did it say?

 

[hellfire]

im working on posting a pic, ive never done it here

 

[hellfire]

 

[Lead Belly]

If you scroll all the way down to the bottom you can download the letter.

 

[IVE GOTTA PACKAGE 4U]

Central States had a meeting on 4/8/15.

And hellfire.... says he already has written correspondence.


I call BS.



-Bug-

He might be. Don't know him and I'm not in the CS plan.

 

[Johney]

I got the same letter today. Although they didn't go into full detail as to what the "rescue" plan is going to consist of it seemed to me to have much to do with current retirees and cuts? I'm not %100 sure.

 

[hellfire]

 

[raceanoncr]

 

[hellfire]

I got the same letter today. Although they didn't go into full detail as to what the "rescue" plan is going to consist of it seemed to me to have much to do with current retirees and cuts? I'm not %100 sure.

kind of ruined Saturday didn't it...this is serious stuff

 

[UpstateNYUPSer(Ret)]

Our BA said that UPS anticipated this and positioned themselves such that our retirees would be the last ones affected by an cuts, which could be as high as 30% for non-UPS retirees.