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UPS Union Issues
The Western Conference and Local 177 H&W DISASTER!
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<blockquote data-quote="Hawfuh Sux" data-source="post: 1213994" data-attributes="member: 48086"><p>Yes its in the green but not 100% funded. As people retire, there's a need to maintain raises going into the pension funds. A primary example of how bad it is when you suspend or slow pension contributions was when YRC members got kicked out of the pension fund. As more people retire the pension fund decreases. </p><p></p><p>The Central States Pension Fund was 76% funded when the last contract was ratified. Today its under 52% funded. </p><p></p><p>If the Western Conference Pension Fund is funded at 94% today, by the end of this contract it will be less than 85% funded due to the enormous amount of people that will be retiring in the next 5 years. </p><p></p><p>If this "carve-out" passes, the Western Conference Pension Fund will see the beginning of its fall. And unless anyone is looking to retire in the next 8 to 10 years, those who retire after will practically see the mess the Central States and Local 177 funds are experiencing. </p><p></p><p>It is simple mathematics not chemistry.</p></blockquote><p></p>
[QUOTE="Hawfuh Sux, post: 1213994, member: 48086"] Yes its in the green but not 100% funded. As people retire, there's a need to maintain raises going into the pension funds. A primary example of how bad it is when you suspend or slow pension contributions was when YRC members got kicked out of the pension fund. As more people retire the pension fund decreases. The Central States Pension Fund was 76% funded when the last contract was ratified. Today its under 52% funded. If the Western Conference Pension Fund is funded at 94% today, by the end of this contract it will be less than 85% funded due to the enormous amount of people that will be retiring in the next 5 years. If this "carve-out" passes, the Western Conference Pension Fund will see the beginning of its fall. And unless anyone is looking to retire in the next 8 to 10 years, those who retire after will practically see the mess the Central States and Local 177 funds are experiencing. It is simple mathematics not chemistry. [/QUOTE]
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