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Brown Cafe UPS Forum
UPS Union Issues
Offical Post! What Behind The Numbers!
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<blockquote data-quote="OZZ" data-source="post: 254235"><p>I agree with you but your math actualy is too generous. Because of compounding 2008 dollars are worth about 46% less than 1997 dollars. Remember also that UPS wanted out of CS, they are simply paying what is required by law for their portion of the unfunded liability. This is not an amount the teamsters "won" for us in negotiations. They are not "bailing out CS" as some are saying. Also the new contract specificly states that UPS will not assume responsibility for the pension you have already earned. We will receive seperate checks from CS and the new pension and UPS will not cover the CS portion if it fails. This is not good for long time CS participants. Shame on management if they are misleading people into thinking UPS is somehow securing thier pension with this offer!</p></blockquote><p></p>
[QUOTE="OZZ, post: 254235"] I agree with you but your math actualy is too generous. Because of compounding 2008 dollars are worth about 46% less than 1997 dollars. Remember also that UPS wanted out of CS, they are simply paying what is required by law for their portion of the unfunded liability. This is not an amount the teamsters "won" for us in negotiations. They are not "bailing out CS" as some are saying. Also the new contract specificly states that UPS will not assume responsibility for the pension you have already earned. We will receive seperate checks from CS and the new pension and UPS will not cover the CS portion if it fails. This is not good for long time CS participants. Shame on management if they are misleading people into thinking UPS is somehow securing thier pension with this offer! [/QUOTE]
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Offical Post! What Behind The Numbers!
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