Home
Forums
New posts
Search forums
What's new
New posts
Latest activity
Members
Current visitors
Log in
Register
What's new
Search
Search
Search titles only
By:
New posts
Search forums
Menu
Log in
Register
Install the app
Install
Home
Forums
Brown Cafe UPS Forum
UPS Retirement Topics
Pensions...We all saw this coming.
JavaScript is disabled. For a better experience, please enable JavaScript in your browser before proceeding.
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an
alternative browser
.
Reply to thread
Message
<blockquote data-quote="slackadjuster" data-source="post: 1470488" data-attributes="member: 49068"><p>The 6.1 billion UPS paid Central States to exit the fund in 2007 was their only liability. UPS paid their fair share to fund & satisfy all existing members ERISA <a href="http://webapps.dol.gov/dolfaq/go-dol-faq.asp?faqid=225" target="_blank">rights</a>. Pension decreases could be inevitable for retirees that never worked under the new single employee plan.</p><p></p><p>UPS is <a href="http://www.ups.com/pressroom/us/press_releases/press_release/Press+Releases/Archive/2014/Q4/ci.UPS+Statement+on+Multi-Employer+Pensions.syndication" target="_blank">contractually</a> obligated to make ones pension whole for deficits incurred from Central States inability to pay after they reach age 65. The obligation is only for members that also have one day or more service in the new Teamster-UPS Jointly Trusteed Single Employer Plan started in 2007.</p><p></p><p>If one missed the cutoff, then I know they are scratching their head as to walking a <a href="http://www.pbs.org/newshour/bb/business-july-dec97-ups_8-19a/" target="_blank">picket line</a> in 1997. Maybe, <a href="http://webapps.dol.gov/dolfaq/go-dol-faq.asp?faqid=225" target="_blank">laws</a> should matter. People should contact their Congress critters and, also, investigate the people they vote for, as they don't always represent their best interests.</p></blockquote><p></p>
[QUOTE="slackadjuster, post: 1470488, member: 49068"] The 6.1 billion UPS paid Central States to exit the fund in 2007 was their only liability. UPS paid their fair share to fund & satisfy all existing members ERISA [URL='http://webapps.dol.gov/dolfaq/go-dol-faq.asp?faqid=225']rights[/URL]. Pension decreases could be inevitable for retirees that never worked under the new single employee plan. UPS is [URL='http://www.ups.com/pressroom/us/press_releases/press_release/Press+Releases/Archive/2014/Q4/ci.UPS+Statement+on+Multi-Employer+Pensions.syndication']contractually[/URL] obligated to make ones pension whole for deficits incurred from Central States inability to pay after they reach age 65. The obligation is only for members that also have one day or more service in the new Teamster-UPS Jointly Trusteed Single Employer Plan started in 2007. If one missed the cutoff, then I know they are scratching their head as to walking a [URL='http://www.pbs.org/newshour/bb/business-july-dec97-ups_8-19a/']picket line[/URL] in 1997. Maybe, [URL='http://webapps.dol.gov/dolfaq/go-dol-faq.asp?faqid=225']laws[/URL] should matter. People should contact their Congress critters and, also, investigate the people they vote for, as they don't always represent their best interests. [/QUOTE]
Insert quotes…
Verification
Post reply
Home
Forums
Brown Cafe UPS Forum
UPS Retirement Topics
Pensions...We all saw this coming.
Top