Home
Forums
New posts
Search forums
What's new
New posts
Latest activity
Members
Current visitors
Log in
Register
What's new
Search
Search
Search titles only
By:
New posts
Search forums
Menu
Log in
Register
Install the app
Install
Home
Forums
Brown Cafe UPS Forum
UPS Union Issues
Think it thru....Pension Takeover
JavaScript is disabled. For a better experience, please enable JavaScript in your browser before proceeding.
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an
alternative browser
.
Reply to thread
Message
<blockquote data-quote="Bill" data-source="post: 253938" data-attributes="member: 5483"><p>If you bothered to read the contract proposals, there are major problems that we need to understand. It states that we will receive two checks (one from UPS and another from CS) totalling $3000 per month for a 30 and out pension. UPS will offset the difference from what CS pays out, but IF THE CS PORTION IS REDUCED AS PERMITTED OR REQUIRED BY LAW, THEN THERE WILL BE NO OFFSET. In other words, if CS becomes underfunded again (it will, but now it will be a few years later), then we are looking at a reduction in our pension and UPS is off the hook. We still don't have any security with the pension. The only winner here is UPS, as they will be saving billions each year and we still don't have a secure pension. Even though the Teamsters negotiated a higher contribution rate toward our pensions, they will, in actuality be putting in much less money than they do now. Logically, if UPS contributes more, why aren't we receiving more. It just doesn't add up.</p></blockquote><p></p>
[QUOTE="Bill, post: 253938, member: 5483"] If you bothered to read the contract proposals, there are major problems that we need to understand. It states that we will receive two checks (one from UPS and another from CS) totalling $3000 per month for a 30 and out pension. UPS will offset the difference from what CS pays out, but IF THE CS PORTION IS REDUCED AS PERMITTED OR REQUIRED BY LAW, THEN THERE WILL BE NO OFFSET. In other words, if CS becomes underfunded again (it will, but now it will be a few years later), then we are looking at a reduction in our pension and UPS is off the hook. We still don't have any security with the pension. The only winner here is UPS, as they will be saving billions each year and we still don't have a secure pension. Even though the Teamsters negotiated a higher contribution rate toward our pensions, they will, in actuality be putting in much less money than they do now. Logically, if UPS contributes more, why aren't we receiving more. It just doesn't add up. [/QUOTE]
Insert quotes…
Verification
Post reply
Home
Forums
Brown Cafe UPS Forum
UPS Union Issues
Think it thru....Pension Takeover
Top