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Brown Cafe UPS Forum
UPS Retirement Topics
Surrending CS Pension?
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<blockquote data-quote="ok2bclever" data-source="post: 72561" data-attributes="member: 1356"><p>Ah the old shift the blame crap.</p><p></p><p>UPS has numerically ten percent of the entire representation and control of decisions made regarding investments and policies of the Central States Pension Fund and company management has fifty percent of the control.</p><p></p><p>So the Teamsters have only a maximum of half the say on everything related to the Pension Fund.</p><p></p><p>So the company is as much to blaim as the Teamsters.</p><p></p><p>Still, you are missing the issue, it isn't a claim of bad investing, it's a statement that the companies do not pay a valid amount of money to fund the fund, nor to the PGBC in insurance premiums to fund that fund.</p><p></p><p>Pure and simple.</p><p></p><p>I know, they pay the amount they contractually negotiated.</p><p></p><p>So they are smarter than the Teamsters and continually outnegotiate them in both the wording and results of the contract.</p><p></p><p>Big surprise.</p></blockquote><p></p>
[QUOTE="ok2bclever, post: 72561, member: 1356"] Ah the old shift the blame crap. UPS has numerically ten percent of the entire representation and control of decisions made regarding investments and policies of the Central States Pension Fund and company management has fifty percent of the control. So the Teamsters have only a maximum of half the say on everything related to the Pension Fund. So the company is as much to blaim as the Teamsters. Still, you are missing the issue, it isn't a claim of bad investing, it's a statement that the companies do not pay a valid amount of money to fund the fund, nor to the PGBC in insurance premiums to fund that fund. Pure and simple. I know, they pay the amount they contractually negotiated. So they are smarter than the Teamsters and continually outnegotiate them in both the wording and results of the contract. Big surprise. [/QUOTE]
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