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Brown Cafe UPS Forum
UPS Union Issues
Teamster Pensions - The Ultimate Goal and Weakness of UPS Contract Negotiations
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<blockquote data-quote="stink219" data-source="post: 1104957" data-attributes="member: 29852"><p>OP, you are so way off. The NE Pension Fund is not controlled by UPS. This is the 5th time I addressed this. Where are you getting that information from? Please let me know. The fund is completely controlled by the Teamsters. The only thing that changed was that UPS pulled out of the multi employer fund and into their own. They did this because they already owed 2 billion in unfunded liability. They paid 890 million of that up front and owe the rest over the course of 50 years at 49 million a year. As union shops were going out of business because due to economic downfall, it was unfair that UPS was eventually going to be the ones footing the whole unfunded amount, so they went in their own pool. The money that UPS gives the Teamsters for our pension is now used for UPS Teamsters only. This pension model is the one that will be adopted in other areas. Even Europe's unions will changing their pension structure to this one. So once again, can you please post were you are getting this information from?</p></blockquote><p></p>
[QUOTE="stink219, post: 1104957, member: 29852"] OP, you are so way off. The NE Pension Fund is not controlled by UPS. This is the 5th time I addressed this. Where are you getting that information from? Please let me know. The fund is completely controlled by the Teamsters. The only thing that changed was that UPS pulled out of the multi employer fund and into their own. They did this because they already owed 2 billion in unfunded liability. They paid 890 million of that up front and owe the rest over the course of 50 years at 49 million a year. As union shops were going out of business because due to economic downfall, it was unfair that UPS was eventually going to be the ones footing the whole unfunded amount, so they went in their own pool. The money that UPS gives the Teamsters for our pension is now used for UPS Teamsters only. This pension model is the one that will be adopted in other areas. Even Europe's unions will changing their pension structure to this one. So once again, can you please post were you are getting this information from? [/QUOTE]
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Teamster Pensions - The Ultimate Goal and Weakness of UPS Contract Negotiations
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