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Brown Cafe UPS Forum
UPS Union Issues
So whats next? Is this the exact same thing that was done in the Central States?
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<blockquote data-quote="Sammy" data-source="post: 1019640" data-attributes="member: 43076"><p>Once UPS enters the new pool they will no longer legally liable to fund the old pool. UPS is taking a 896 million dollar charge in the third quarter to pay off the liability of the old pool. If you are retired you stay in the old pool. Current employees will be in the old pool and new pool. September 16,2012 looks like the change date. </p><p>I think Part 2 of this link is what opened the door for UPS to enter a new pension structure:<a href="http://www.nettipf.com/pdf_files/newplanspd.pdf" target="_blank">http://www.nettipf.com/pdf_files/newplanspd.pdf</a></p><p><span style="font-family: 'century gothic'">Page 15 of the pdf file:</span></p><p><span style="font-family: 'century gothic'">PART II – Current Employers Transition Into Second</span></p><p><span style="font-family: 'century gothic'">Withdrawal Liability Pool</span></p><p><span style="font-family: 'century gothic'">Current Contributing Employers already contributing to the</span></p><p><span style="font-family: 'century gothic'">Pension Fund as of October 1, 2010 may negotiate to transition</span></p><p><span style="font-family: 'century gothic'">into the Pension Fund’s second withdrawal liability pool.</span></p><p><span style="font-family: 'century gothic'"></span>I may be wrong but the language in this document looks like why this is taking place.</p></blockquote><p></p>
[QUOTE="Sammy, post: 1019640, member: 43076"] Once UPS enters the new pool they will no longer legally liable to fund the old pool. UPS is taking a 896 million dollar charge in the third quarter to pay off the liability of the old pool. If you are retired you stay in the old pool. Current employees will be in the old pool and new pool. September 16,2012 looks like the change date. I think Part 2 of this link is what opened the door for UPS to enter a new pension structure:[URL]http://www.nettipf.com/pdf_files/newplanspd.pdf[/URL] [FONT=century gothic]Page 15 of the pdf file: PART II – Current Employers Transition Into Second Withdrawal Liability Pool Current Contributing Employers already contributing to the Pension Fund as of October 1, 2010 may negotiate to transition into the Pension Fund’s second withdrawal liability pool. [/FONT]I may be wrong but the language in this document looks like why this is taking place. [/QUOTE]
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So whats next? Is this the exact same thing that was done in the Central States?
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