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UPS Retirement Topics
REFORM PLAN FOR Central States Pension Plan
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<blockquote data-quote="UPSmechanicinblue" data-source="post: 1874568" data-attributes="member: 28826"><p>I have 10 in Central states- still employed-so i'm concerned some but not as much as you, a lot of rumors are out there. I have dug into this way before this happened. I haven't even opened my mail or went into check my retirement on UPSer's.com. I will have another contract to go through probably more before I retire so alot can change.</p><p> Please remember you are reading out of a contract handbook for us to review and use. When the Union and UPS sit down to negotiate a contract, they have lawyers etc there and I assure you when they come to an agreement on something there is way more to it that what your seeing in the book. Ever buy or refinance a house? lots of reading and signing</p><p> As far as the guarantee for life goes, nothing is and I think we all know that. If UPS decertified from the union anytime down the road everything you have now would change. Even the UPSIBT pension for me and future employees.</p><p></p><p> As for now all sources say they will make up the difference if you worked into 2008-UPS tried to save the prior 2008 retireres and after 2008 to save them money in the off set but so far haven't but they may get that changed I hope.</p><p> UPS wouldnt I feel of spent all the money fighting (carve out thing)this if they new that it being by law the CSPF was reduced they would not be free and clear, I feel they wanted it changed now cause they would have a bigger payout if they wait any longer being the fund is being drained so quickly by others that they would have to pay more in the offset say 10 years down the road.</p><p></p><p> Also when negotiated in contract the offset, (reduced required by law) There was no other possible alternative for the CSPF to be reduced with out a law change. </p><p> What is in the contract now must stay in there and in future contracts is what protects us. All info needed is not just in the little contract book,</p></blockquote><p></p>
[QUOTE="UPSmechanicinblue, post: 1874568, member: 28826"] I have 10 in Central states- still employed-so i'm concerned some but not as much as you, a lot of rumors are out there. I have dug into this way before this happened. I haven't even opened my mail or went into check my retirement on UPSer's.com. I will have another contract to go through probably more before I retire so alot can change. Please remember you are reading out of a contract handbook for us to review and use. When the Union and UPS sit down to negotiate a contract, they have lawyers etc there and I assure you when they come to an agreement on something there is way more to it that what your seeing in the book. Ever buy or refinance a house? lots of reading and signing As far as the guarantee for life goes, nothing is and I think we all know that. If UPS decertified from the union anytime down the road everything you have now would change. Even the UPSIBT pension for me and future employees. As for now all sources say they will make up the difference if you worked into 2008-UPS tried to save the prior 2008 retireres and after 2008 to save them money in the off set but so far haven't but they may get that changed I hope. UPS wouldnt I feel of spent all the money fighting (carve out thing)this if they new that it being by law the CSPF was reduced they would not be free and clear, I feel they wanted it changed now cause they would have a bigger payout if they wait any longer being the fund is being drained so quickly by others that they would have to pay more in the offset say 10 years down the road. Also when negotiated in contract the offset, (reduced required by law) There was no other possible alternative for the CSPF to be reduced with out a law change. What is in the contract now must stay in there and in future contracts is what protects us. All info needed is not just in the little contract book, [/QUOTE]
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