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UPS/IBT pension funding
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<blockquote data-quote="DELACROIX" data-source="post: 4539732" data-attributes="member: 49065"><p><strong>"MENE MENE TEKEL UPHARSIN"</strong>..</p><p></p><p><strong>a.</strong> <strong>The</strong> <strong>Central States pension plan was in bad shape before 2020, what will be their liabilities at the end of this year and why would you expect the Feds to save it with a 35 billion forgivable loan with all the other (entitlement programs) that might happen if the Democrats take the executive branch.</strong></p><p><strong></strong></p><p><strong>b. By 2023 the contractual supplement that UPS will not be permitted to offer an alternative Pension Plan to their bargaining unit employees will end, then everything will be on the table. I fully expect that the companies' UPS Pension plan for primarily part time members will be eliminated, saving roughly 2 billion annually. What will be offer will be similar to management's matched 401K that take take place also in 2023. Seriously with the part timer's turnover ratio, just how many of them hang around enough to be vested in a pension plan.</strong></p><p><strong></strong></p><p><strong>c. The Western Conferences pension plans will also take a hit but will still be healthy enough to provide the promised benefits, this "GROW" legislation could limit it's ability to provide future benefits. Consider that the current monetary retirement for a retiree under the West is roughly twice as much as one the the Central or Southern for the same number of years service. You not think that Washington is asking the tough question on why should they be bailing out the Central States fund when the Western states are well over 100 percent vested. Please redefine (UNION), or the Teamster's motto "PEOPLE HELPING PEOPLE".</strong></p><p><strong></strong></p><p><strong>d. Hoffa and Hall will not be involved with this coming contract, the company knew who they were dealing with and used it to the best of their abilities. I would say that the other guys who nearly won the last election will be a shoe in, the other candidate from Colorado I do not know and he will be hampered by Hoffa's handling of the last two national contracts. My personal opinion is that is a good turn for the members, when leadership gets too comfortable and old they start to lose their edge and mental capabilities if you get my point.</strong></p></blockquote><p></p>
[QUOTE="DELACROIX, post: 4539732, member: 49065"] [B]"MENE MENE TEKEL UPHARSIN"[/B].. [B]a.[/B] [B]The[/B] [B]Central States pension plan was in bad shape before 2020, what will be their liabilities at the end of this year and why would you expect the Feds to save it with a 35 billion forgivable loan with all the other (entitlement programs) that might happen if the Democrats take the executive branch. b. By 2023 the contractual supplement that UPS will not be permitted to offer an alternative Pension Plan to their bargaining unit employees will end, then everything will be on the table. I fully expect that the companies' UPS Pension plan for primarily part time members will be eliminated, saving roughly 2 billion annually. What will be offer will be similar to management's matched 401K that take take place also in 2023. Seriously with the part timer's turnover ratio, just how many of them hang around enough to be vested in a pension plan. c. The Western Conferences pension plans will also take a hit but will still be healthy enough to provide the promised benefits, this "GROW" legislation could limit it's ability to provide future benefits. Consider that the current monetary retirement for a retiree under the West is roughly twice as much as one the the Central or Southern for the same number of years service. You not think that Washington is asking the tough question on why should they be bailing out the Central States fund when the Western states are well over 100 percent vested. Please redefine (UNION), or the Teamster's motto "PEOPLE HELPING PEOPLE". d. Hoffa and Hall will not be involved with this coming contract, the company knew who they were dealing with and used it to the best of their abilities. I would say that the other guys who nearly won the last election will be a shoe in, the other candidate from Colorado I do not know and he will be hampered by Hoffa's handling of the last two national contracts. My personal opinion is that is a good turn for the members, when leadership gets too comfortable and old they start to lose their edge and mental capabilities if you get my point.[/B] [/QUOTE]
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