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Brown Cafe UPS Forum
UPS Retirement Topics
REFORM PLAN FOR Central States Pension Plan
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<blockquote data-quote="UPSmechanicinblue" data-source="post: 1876355" data-attributes="member: 28826"><p>Does anyone understand this or am I reading it wrong? After UPS withdrew the following year they negotiated a separate agreement. I dont recall this-i thought it was all done when contract was done. Ive read this in a few diffferent news articles</p><p><a href="http://pensionpulse.blogspot.com/" target="_blank">http://pensionpulse.blogspot.com/</a></p><p></p><p>A group of about 48,000 workers and retirees who earned their benefits by working at United Parcel Service will continue to have their pensions paid in full, thanks to labor contracts between the Teamsters and the company. UPS was for many years the largest employer in the Central States pension fund, but it withdrew from the fund in December 2007 after making one large final payment. After the stock market crash the following year, UPS and the Teamsters negotiated a separate agreement calling for UPS to shelter those workers from any cuts the Central States pension fund might have to make.</p></blockquote><p></p>
[QUOTE="UPSmechanicinblue, post: 1876355, member: 28826"] Does anyone understand this or am I reading it wrong? After UPS withdrew the following year they negotiated a separate agreement. I dont recall this-i thought it was all done when contract was done. Ive read this in a few diffferent news articles [URL]http://pensionpulse.blogspot.com/[/URL] A group of about 48,000 workers and retirees who earned their benefits by working at United Parcel Service will continue to have their pensions paid in full, thanks to labor contracts between the Teamsters and the company. UPS was for many years the largest employer in the Central States pension fund, but it withdrew from the fund in December 2007 after making one large final payment. After the stock market crash the following year, UPS and the Teamsters negotiated a separate agreement calling for UPS to shelter those workers from any cuts the Central States pension fund might have to make. [/QUOTE]
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REFORM PLAN FOR Central States Pension Plan
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