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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="Mugarolla" data-source="post: 1876751" data-attributes="member: 8481"><p>According to the contract, those that retired before 2008 are not covered. The wording in the contract states:</p><p></p><p><strong>The UPS/IBT Plan will recognize full-time service in the CS Plan for determining eligibility for the benefits in this section and will offset at Normal Retirement Age the benefits accrued from the CS Plan commencing at Normal Retirement Age. If the benefit paid from the CS Plan is reduced as permitted or required by law, the amount of such reduction shall not be included in this offset.</strong></p><p><strong></strong></p><p>This clause only recognizes those retirees who are retired under the UPS/IBT Plan. Those that retired before 2008 are strickly under the CSPF Plan.</p><p></p><p>And for those of you who still do not understand, anyone retiring after 2008 is retiring under the UPS/IBT Plan and your pension is through the UPS/IBT Plan. They just get to offset what CSPF pays you starting at age 65. You are still retired under the UPS/IBT Plan.</p><p></p><p>Pre 2008 retirees are retired under the CSPF Plan.</p><p></p><p>UPS, out of the goodness of their hearts, could elect to cover any reduction for retirees pre 2008, but I wouldn't count on it.</p></blockquote><p></p>
[QUOTE="Mugarolla, post: 1876751, member: 8481"] According to the contract, those that retired before 2008 are not covered. The wording in the contract states: [B]The UPS/IBT Plan will recognize full-time service in the CS Plan for determining eligibility for the benefits in this section and will offset at Normal Retirement Age the benefits accrued from the CS Plan commencing at Normal Retirement Age. If the benefit paid from the CS Plan is reduced as permitted or required by law, the amount of such reduction shall not be included in this offset. [/B] This clause only recognizes those retirees who are retired under the UPS/IBT Plan. Those that retired before 2008 are strickly under the CSPF Plan. And for those of you who still do not understand, anyone retiring after 2008 is retiring under the UPS/IBT Plan and your pension is through the UPS/IBT Plan. They just get to offset what CSPF pays you starting at age 65. You are still retired under the UPS/IBT Plan. Pre 2008 retirees are retired under the CSPF Plan. UPS, out of the goodness of their hearts, could elect to cover any reduction for retirees pre 2008, but I wouldn't count on it. [/QUOTE]
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