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Brown Cafe UPS Forum
The Latest UPS Headlines
Teamsters face 31 percent pension cut
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<blockquote data-quote="UpstateNYUPSer(Ret)" data-source="post: 2701838" data-attributes="member: 12570"><p><strong>Amid this anger, Local 294 is starting to look to Congress for some help.</strong></p><p><strong></strong></p><p>This "help" is in the form of a $1B loan with a 1% interest rate and 10 year grace period before repayment must begin. It is the hope that the $1B infusion will keep benefits at their current levels and that the fund will rebound over the next 10 years to the point where it can sustain benefits <strong>and</strong> make their loan payments.</p></blockquote><p></p>
[QUOTE="UpstateNYUPSer(Ret), post: 2701838, member: 12570"] [B]Amid this anger, Local 294 is starting to look to Congress for some help. [/B] This "help" is in the form of a $1B loan with a 1% interest rate and 10 year grace period before repayment must begin. It is the hope that the $1B infusion will keep benefits at their current levels and that the fund will rebound over the next 10 years to the point where it can sustain benefits [B]and[/B] make their loan payments. [/QUOTE]
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Teamsters face 31 percent pension cut
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