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Brown Cafe UPS Forum
UPS Union Issues
To those who accuse Hall of "selling us out"...
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<blockquote data-quote="Dracula" data-source="post: 1127838" data-attributes="member: 42691"><p>From what I took away from the meeting with the CS execs a few weeks ago, they painted an ugly, ugly picture about the pension fund. They said they pay out two pensions for every one who contributes,and that there is NO way the fund can earn it's way out of the hole the 2008 economic crisis put it into (Thank YOU, Mr. Banker). The guy said the only way the fund can survive is with Congressional help. That will NOT happen without reductions in the amount participants receive. I am one of those participants. So any extra money UPS puts into our pension with this new contract doesn't seem like it is really going to help that much. I may be reading it wrong, but I don't think so. </p><p></p><p>The CS execs did say, however, that there is no such funding problem with the health and welfare fund. He stated that H&friend was fully funded and wasn't in the position that the pension is. </p><p></p><p>What it means to me, is I work and save with the idea that I won't have much of a pension to rely on when I retire. I'm assuming that I'm going to be fully responsible for supporting myself. I recommend everyone else do the same.</p></blockquote><p></p>
[QUOTE="Dracula, post: 1127838, member: 42691"] From what I took away from the meeting with the CS execs a few weeks ago, they painted an ugly, ugly picture about the pension fund. They said they pay out two pensions for every one who contributes,and that there is NO way the fund can earn it's way out of the hole the 2008 economic crisis put it into (Thank YOU, Mr. Banker). The guy said the only way the fund can survive is with Congressional help. That will NOT happen without reductions in the amount participants receive. I am one of those participants. So any extra money UPS puts into our pension with this new contract doesn't seem like it is really going to help that much. I may be reading it wrong, but I don't think so. The CS execs did say, however, that there is no such funding problem with the health and welfare fund. He stated that H&friend was fully funded and wasn't in the position that the pension is. What it means to me, is I work and save with the idea that I won't have much of a pension to rely on when I retire. I'm assuming that I'm going to be fully responsible for supporting myself. I recommend everyone else do the same. [/QUOTE]
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To those who accuse Hall of "selling us out"...
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