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Pensions?
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<blockquote data-quote="Cezanne" data-source="post: 160747" data-attributes="member: 5104"><p>To reply to the previous post about the UPS Pension Plan being over 100 percent vested. The Plan is basically set up for the part time union employees in the Central States area. Now consider all the part time employees who are vested in that trust and the current pay out to those who were lucky enough to collect a benefit. Any benefit trust fund would be considerably healthy if it did not have any large amount of retirees drawing from it's investments. The plan pays yearly an amount to cover the promised benefit.</p><p> </p><p>If you study the Ohio Rider in the Central Supplement, you will find the retirement formula for FULL TIME clerical workers. They are under the company pension plan also and it breaks down to currently 1,700 a month, before the spousal reduction and health and welfare costs. We have a union full time clerk in our building with over 37 years, who if they retired today would get less than a member who worked part time for 35 years (1,950 a month).</p><p> </p><p>I believe that is just one of the reasons that the union might be worried about losing total control of the pension trusts<img src="/community/styles/default/xenforo/smilies/group1/cool.gif" class="smilie" loading="lazy" alt=":cool:" title="Cool :cool:" data-shortname=":cool:" /></p></blockquote><p></p>
[QUOTE="Cezanne, post: 160747, member: 5104"] To reply to the previous post about the UPS Pension Plan being over 100 percent vested. The Plan is basically set up for the part time union employees in the Central States area. Now consider all the part time employees who are vested in that trust and the current pay out to those who were lucky enough to collect a benefit. Any benefit trust fund would be considerably healthy if it did not have any large amount of retirees drawing from it's investments. The plan pays yearly an amount to cover the promised benefit. If you study the Ohio Rider in the Central Supplement, you will find the retirement formula for FULL TIME clerical workers. They are under the company pension plan also and it breaks down to currently 1,700 a month, before the spousal reduction and health and welfare costs. We have a union full time clerk in our building with over 37 years, who if they retired today would get less than a member who worked part time for 35 years (1,950 a month). I believe that is just one of the reasons that the union might be worried about losing total control of the pension trusts:cool: [/QUOTE]
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