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UPS Retirement Topics
UPS offer on the Table for takeover of Central States fund !
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<blockquote data-quote="JonFrum" data-source="post: 197638"><p><strong>"Beyond Repair" . . . Really???</strong></p><p></p><p></p><p></p><p>I doubt Central States Trustee Fred Gregare ever said that. Can you provide proof?</p><p></p><p>The fund is in poor shape, but there is a (painful) recovery plan in place. The benefit accruals were cut to reduce expenses, and the employer contribution rates were increased to improve income. Normally decreased outflow and increased income will lead to an improving situation over time. Unfortunately Central States is starting from a very low point to begin with, and it will take years for the strategy's positive results to accmulate. It may even take a year or two to "turn the ship around" before the funding percentage begins to steadily climb. </p><p></p><p>The present stock market rise is helping as well don't you think?</p><p></p><p>[As always, I'm not *defending* the poor state of the fund, just trying to comment on it evenhandedly.]</p></blockquote><p></p>
[QUOTE="JonFrum, post: 197638"] [b]"Beyond Repair" . . . Really???[/b] I doubt Central States Trustee Fred Gregare ever said that. Can you provide proof? The fund is in poor shape, but there is a (painful) recovery plan in place. The benefit accruals were cut to reduce expenses, and the employer contribution rates were increased to improve income. Normally decreased outflow and increased income will lead to an improving situation over time. Unfortunately Central States is starting from a very low point to begin with, and it will take years for the strategy's positive results to accmulate. It may even take a year or two to "turn the ship around" before the funding percentage begins to steadily climb. The present stock market rise is helping as well don't you think? [As always, I'm not *defending* the poor state of the fund, just trying to comment on it evenhandedly.] [/QUOTE]
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UPS offer on the Table for takeover of Central States fund !
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