To those who attended their contract meeting

[over9five]

I don't even bother to read that^^^^^
​Too damn confusing with all capitals.

 

[Ms.PacMan]

If they are 64% funded they are red and don't need any law to change to cut benefits. Any participant in their right mind should hope PBGC doesn't "take over" the plan. The law doesn't allow your funneling scenario to occur.

According to the proposed TA - raises and pension contributions could be used for healthcare should the plan become underfunded. What law do you think they are openly violating in writing?

They would like to cut retiree pension benefits now and are petitioning congress to change the law allowing them to do so before PBGC would have to take over. 

Union-Employer Pension Proposal Would Hit Some Retirees - WSJ.com

For those troubled plans, unions and employers are proposing that the Employee Retirement Income Security Act of 1974 be rewritten so that benefits for people who are already retired can be reduced. Without that fix, advocates argue, the plans will run out of money and retirees will end up with a fraction of their current benefits when the government takes over the plans.

 

[UpstateNYUPSer(Ret)]

I don't even bother to read that^^^^^
​Too damn confusing with all capitals.

I will try to paraphrase for you.

Employees currently covered by the CS H&W plan may think that this contract is a good one but if they vote "no" they could get an even better one. Our BA told us that this was a bad contract and that we should vote "no" and they will give us a better one. The union will then have until November to improve the H&W plan. Striking should be the option of last resort as there is zero public support for a strike.

 

[cachsux]

I don't even bother to read that^^^^^
​Too damn confusing with all capitals.

 

[Inthegame]

How long will it be before they are funneling money from other pensions into CSHW and then into their bankrupt pension fund?

The monies once placed into Trust Funds, be they H&W or Pension, cannot under any circumstances be intermingled, unless the trustees of those plans enjoy prison.

According to the proposed TA - raises and pension contributions could be used for healthcare should the plan become underfunded. What law do you think they are openly violating in writing?

They would like to cut retiree pension benefits now and are petitioning congress to change the law allowing them to do so before PBGC would have to take over. 

Union-Employer Pension Proposal Would Hit Some Retirees - WSJ.com

For those troubled plans, unions and employers are proposing that the Employee Retirement Income Security Act of 1974 be rewritten so that benefits for people who are already retired can be reduced. Without that fix, advocates argue, the plans will run out of money and retirees will end up with a fraction of their current benefits when the government takes over the plans.

I didn't state anyone was openly violating any law. I stated that pensions in the red zone have the ability to reduce benefits under the PPA of 2006 so there is no necessity to petition Congress for relief.

 

[Delivered]

I heard today that Local 89 people will get $1,000 bonus if their rider/supplement passes.

 

[Anonymous 10]

I heard today that Local 89 people will get $1,000 bonus if their rider/supplement passes.

You heard wrong.

 

[Ms.PacMan]

The monies once placed into Trust Funds, be they H&W or Pension, cannot under any circumstances be intermingled, unless the trustees of those plans enjoy prison.

I didn't state anyone was openly violating any law. I stated that pensions in the red zone have the ability to reduce benefits under the PPA of 2006 so there is no necessity to petition Congress for relief.

And yet - they are asking Congress to make changes?

The TA states that the H&W plan will first be evaluated and if underfunded then monies contractually earmarked for raises or pensions will be used to fund H&W (before the money is placed into trust). The Teamsters won an exemption from reporting the actual cost of health care. There will be no transparency - it concerns me.

 

[IVE GOTTA PACKAGE 4U]

I heard today that Local 89 people will get $1,000 bonus if their rider/supplement passes.

No....they will get boned!

 

[Inthegame]

And yet - they are asking Congress to make changes?

The TA states that the H&W plan will first be evaluated and if underfunded then monies contractually earmarked for raises or pensions will be used to fund H&W (before the money is placed into trust). The Teamsters won an exemption from reporting the actual cost of health care. There will be no transparency - it concerns me.

Now we're getting closer to a viable point. Yes the TA allows for using GWI to bolster H&W costs if needed, exactly as Teamster Trust plans have had for several contracts. But diverting monies means insufficient funding occured which means you believe the IBT hasn't negotiated enough contributions to cover costs. The conspiracy theorists should realise the fault with this scheme is then the Teamsters, whom so many suspect are thiefs, will then get less dues as dues are now wage based. So how do you support these two points?
Every Erisa H&W and Pension Funds "costs" are required to be reported to every participant on a yearly basis, including UPS plans. And to borrow a Talking Heads line, The transparency is as clear as it ever was.

 

[tejano408]

It is being rejected by shop stewards and BA some are being told to tell members that it is a good deal the true is it not.
So VOTE NO!!!!!

 

[CaptainObvious]

I heard today that Local 89 people will get $1,000 bonus if their rider/supplement passes.

You heard wrong.

He's not wrong-
UPS is offering a 1,000 dollar bonus in their Air Rider to help make up for the shuttle system they have at the world port.

 

[Delivered]

You heard wrong.

Before you take the time to apologize that you were wrong, just know I don't accept your apology anyway

 

[Delivered]

You heard wrong.

Timbaland - Apologize ft. OneRepublic - YouTube