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UPS Retirement Topics
Surrending CS Pension?
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<blockquote data-quote="ok2bclever" data-source="post: 72803" data-attributes="member: 1356"><p>wkmac,</p><p></p><p>You compared GM and UPS in the apples to oranges sentence, not pensions.</p><p></p><p>GM produces physical products with a pretty crappy and bloated workforce and loses money at it.</p><p></p><p>Is downsizing and drastically losing market share.</p><p></p><p>UPS sells a service with a lean and mean workforce and makes plenty of money at it.</p><p></p><p>It is still growing and gaining over all market share in the world and it's many diverse faces.</p><p></p><p>You can't get much different than that.</p><p></p><p>As far as health care and pensions, those are only two of a myriad of problem facing GM.</p><p></p><p>Health care is an important issue, but has no direct bearing on the CSPF issue.</p><p></p><p>Healthcare was a distinctly separate part of the CSPF, including even to the point of contributions.</p><p></p><p>The CSPF was having financial problems prior to and separately from the healthcard side.</p><p></p><p>In fact, CSPF opted to scavenge the healthcare contribution section (which was also running in the red) over to help shore up the pension side and have their retirees pay for their own insurance at the fund's cost.</p><p></p><p>You are correct in that GM is a single employer fund as is Delphi (a spin off a couple of years ago and in even worse shape).</p><p></p><p>I have three brother in laws at Delphi (a single employer fund) apparently about to lose everything as Delphi is preparing to play the bankruptcy card where they get to stay in business, even keeping their name while dumping their pension liabilities on the government and throwing away as many employees as they want and paying the rest of them whatever they feel like.</p></blockquote><p></p>
[QUOTE="ok2bclever, post: 72803, member: 1356"] wkmac, You compared GM and UPS in the apples to oranges sentence, not pensions. GM produces physical products with a pretty crappy and bloated workforce and loses money at it. Is downsizing and drastically losing market share. UPS sells a service with a lean and mean workforce and makes plenty of money at it. It is still growing and gaining over all market share in the world and it's many diverse faces. You can't get much different than that. As far as health care and pensions, those are only two of a myriad of problem facing GM. Health care is an important issue, but has no direct bearing on the CSPF issue. Healthcare was a distinctly separate part of the CSPF, including even to the point of contributions. The CSPF was having financial problems prior to and separately from the healthcard side. In fact, CSPF opted to scavenge the healthcare contribution section (which was also running in the red) over to help shore up the pension side and have their retirees pay for their own insurance at the fund's cost. You are correct in that GM is a single employer fund as is Delphi (a spin off a couple of years ago and in even worse shape). I have three brother in laws at Delphi (a single employer fund) apparently about to lose everything as Delphi is preparing to play the bankruptcy card where they get to stay in business, even keeping their name while dumping their pension liabilities on the government and throwing away as many employees as they want and paying the rest of them whatever they feel like. [/QUOTE]
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