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UPS Retirement Topics
Surrending CS Pension?
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<blockquote data-quote="ok2bclever" data-source="post: 72644" data-attributes="member: 1356"><p>tie, have you noticed you are posting as unregistered?</p><p></p><p>Need instructions on how to login in perhaps?</p><p></p><p>I am running out of ways to talk simpler.</p><p></p><p>It is a fact that UPS and the other companies underfund the pensions.</p><p></p><p>Have the Teamsters allowed this through inadequately negotiated contribution amounts?</p><p></p><p>Yep.</p><p></p><p>That becomes the real crux of why companies going out of business are causing us a problem.</p><p></p><p>If the corporations had been contributing a sufficient amount to sustain the benefit levels agreed to then any employee that worked long enough with a company to qualify for retirement would have been paid for.</p><p></p><p>You and others continue to sell the smoke and mirrors claim that it's caused by employees from out of business companies, but anyone who takes the time to realize an employee that worked long enough to retire <em>should already have had</em> enough company contributions <u>to pay for himself</u> <strong>IF</strong> the company had been contributing an adequate amount.</p><p></p><p>So, the problem obviously was/is that companies <strong>DON"T </strong>contribute enough to support the benefits they promise <em>EXCEPT</em> on a continuing rob Peter to pay Paul with current workers contribution levels pea in a nutshell game.</p><p></p><p>Real plain and simple.</p><p></p><p>The amount companies contribute is not enough to pay for the benefits promised.</p><p></p><p>Not even with stock market investment supplementing the contributions.</p><p></p><p>We workers were not aware of this all these decades as we stupidly trusted UPS and the Teamsters to do the math for us.</p><p><strong></strong></p><p><strong>Anyone believe UPS was not aware of the math to the last penny?</strong></p><p></p><p>I have to believe the Teamsters in charge of this stuff have to understand it well enough also.</p><p></p><p>I expect you are going to say you still don't understand, but I think most should get what I am saying.</p></blockquote><p></p>
[QUOTE="ok2bclever, post: 72644, member: 1356"] tie, have you noticed you are posting as unregistered? Need instructions on how to login in perhaps? I am running out of ways to talk simpler. It is a fact that UPS and the other companies underfund the pensions. Have the Teamsters allowed this through inadequately negotiated contribution amounts? Yep. That becomes the real crux of why companies going out of business are causing us a problem. If the corporations had been contributing a sufficient amount to sustain the benefit levels agreed to then any employee that worked long enough with a company to qualify for retirement would have been paid for. You and others continue to sell the smoke and mirrors claim that it's caused by employees from out of business companies, but anyone who takes the time to realize an employee that worked long enough to retire [I]should already have had[/I] enough company contributions [U]to pay for himself[/U] [B]IF[/B] the company had been contributing an adequate amount. So, the problem obviously was/is that companies [B]DON"T [/B]contribute enough to support the benefits they promise [I]EXCEPT[/I] on a continuing rob Peter to pay Paul with current workers contribution levels pea in a nutshell game. Real plain and simple. The amount companies contribute is not enough to pay for the benefits promised. Not even with stock market investment supplementing the contributions. We workers were not aware of this all these decades as we stupidly trusted UPS and the Teamsters to do the math for us. [B] Anyone believe UPS was not aware of the math to the last penny?[/B] I have to believe the Teamsters in charge of this stuff have to understand it well enough also. I expect you are going to say you still don't understand, but I think most should get what I am saying. [/QUOTE]
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