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Brown Cafe UPS Forum
UPS Union Issues
Think it thru....Pension Takeover
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<blockquote data-quote="area43" data-source="post: 243165" data-attributes="member: 4862"><p>Scratch I salute you. Wow, you must have started when you were 17 or 18. Whats a little scarey about the CS mep is the stats. 200,000 retires. 150,000 active working members. 35,000 to 40,000 of those active working UPS contributing members are going to be leaving when the buy out occurs. Where is the Teamsters going to go to find their replacements. Fedex, Dhl, who knows?? Union membership has been on the decline. How will the Teamsters attract new members to the CS mep plan? It will not be at all attract to anyone. How will they support the 200,000 with only 110,000 active workers contributing? The 6 billion buy out wont go far. Yes, it will show that it is funded at a higher level but that is a little miss leading. For how long will it be funded above the required 63%? Unfortunately it will be a 2 check retirement. I wish the Teamsters would give back to you what UPS has contributed over the years on your behalf. No earnings or losses. Whats fair is fair. Who knows maybe thats what will be in the packet. A one check retirment would be great.</p><p> </p><p>In closing I believe after the deal is done. The fund will start its journey toward government control. Out of the 110,000 active working employees that are left how many of those are going to retire in 3 to 5 years(baby boomers). I also believe the other companies that are left in the plan do not pay the same amount as UPS did per their employees(weekly pension contributions).</p></blockquote><p></p>
[QUOTE="area43, post: 243165, member: 4862"] Scratch I salute you. Wow, you must have started when you were 17 or 18. Whats a little scarey about the CS mep is the stats. 200,000 retires. 150,000 active working members. 35,000 to 40,000 of those active working UPS contributing members are going to be leaving when the buy out occurs. Where is the Teamsters going to go to find their replacements. Fedex, Dhl, who knows?? Union membership has been on the decline. How will the Teamsters attract new members to the CS mep plan? It will not be at all attract to anyone. How will they support the 200,000 with only 110,000 active workers contributing? The 6 billion buy out wont go far. Yes, it will show that it is funded at a higher level but that is a little miss leading. For how long will it be funded above the required 63%? Unfortunately it will be a 2 check retirement. I wish the Teamsters would give back to you what UPS has contributed over the years on your behalf. No earnings or losses. Whats fair is fair. Who knows maybe thats what will be in the packet. A one check retirment would be great. In closing I believe after the deal is done. The fund will start its journey toward government control. Out of the 110,000 active working employees that are left how many of those are going to retire in 3 to 5 years(baby boomers). I also believe the other companies that are left in the plan do not pay the same amount as UPS did per their employees(weekly pension contributions). [/QUOTE]
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Think it thru....Pension Takeover
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