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UPS subsidizing non ups pensions
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<blockquote data-quote="JonFrum" data-source="post: 142195"><p>Did you just receive the one page Summary Annual Report of the UPS National [Long Term Disability] LTD Plan for 2005 in the mail? You can view the 2004 Form 5500 on FreeErisa Dot Com. The 2005 forms should be available online soon.</p><p><a href="http://freeerisa.benefitspro.com/" target="_blank">Welcome to freeErisa.com!</a></p><p>Search for Company Name Contains: PARCEL. Then from the results list click on United Parcel Service, and then UPS National LTD Plan.</p><p>The Plan started on August 1, 2004 so the first year report is only for the final five months of 2004. Incidently, "long term'' coverage means just five year's coverage.</p><p>- - - - -</p><p>The big advantage of FreeErisa is that it's free. But unfortunately, they don't carry the full annual reports. I just read a hardcopy of a full report I had ordered years ago and it had an extensive Auditor's Report attached. You really should get ahold of one of these Auditor's Reports. It makes everything so much clearer.</p><p>- - - - -</p><p>Central States has six issues of Teamwork magazine available online here . . .</p><p><a href="http://www.centralstatesfunds.org/cs/plans/teamwork.asp" target="_blank">Publications</a></p><p>Each of these 16 -page issues (in Adobe PDF format) is well worth reading because they lay out the entire problem facing the Central States Funds, past, present, and future. Lot's of good information, (and some misleading information,) much of which applies to all of us in other funds as well. And the thinking of the Central States Trustees is probably similar to the thinking of the trustees of the various funds to which the rest of us belong. Of course, the fund trustees concider themselves totally blameless for the situation, and indeed, believe they deserve a great big "attaboy" for the outstanding way they are handling the matter. My view is they are like a fellow who gets run over by a slow moving freight train. He's walking on the tracks, ignores the caution sign, feels the vibration in the rails, hears the engine getting louder, hears the warning whistle, and then . . . thwack! It's like the train just appeared outta da blue. It coulda happened to anybody.</p><p>I'm not opposed to people walking on the tracks, or trustees investing in the stock market, but when the warning signs appear, it's time to get off the tracks and out of the market. Especially if you're a highly paid professional investment manager.</p><p></p><p>See also . . .</p><p><a href="http://www.centralstatesfunds.org/Locals/" target="_blank">Central States Funds - Local Unions</a></p></blockquote><p></p>
[QUOTE="JonFrum, post: 142195"] Did you just receive the one page Summary Annual Report of the UPS National [Long Term Disability] LTD Plan for 2005 in the mail? You can view the 2004 Form 5500 on FreeErisa Dot Com. The 2005 forms should be available online soon. [URL='http://freeerisa.benefitspro.com/']Welcome to freeErisa.com![/URL] Search for Company Name Contains: PARCEL. Then from the results list click on United Parcel Service, and then UPS National LTD Plan. The Plan started on August 1, 2004 so the first year report is only for the final five months of 2004. Incidently, "long term'' coverage means just five year's coverage. - - - - - The big advantage of FreeErisa is that it's free. But unfortunately, they don't carry the full annual reports. I just read a hardcopy of a full report I had ordered years ago and it had an extensive Auditor's Report attached. You really should get ahold of one of these Auditor's Reports. It makes everything so much clearer. - - - - - Central States has six issues of Teamwork magazine available online here . . . [URL='http://www.centralstatesfunds.org/cs/plans/teamwork.asp']Publications[/URL] Each of these 16 -page issues (in Adobe PDF format) is well worth reading because they lay out the entire problem facing the Central States Funds, past, present, and future. Lot's of good information, (and some misleading information,) much of which applies to all of us in other funds as well. And the thinking of the Central States Trustees is probably similar to the thinking of the trustees of the various funds to which the rest of us belong. Of course, the fund trustees concider themselves totally blameless for the situation, and indeed, believe they deserve a great big "attaboy" for the outstanding way they are handling the matter. My view is they are like a fellow who gets run over by a slow moving freight train. He's walking on the tracks, ignores the caution sign, feels the vibration in the rails, hears the engine getting louder, hears the warning whistle, and then . . . thwack! It's like the train just appeared outta da blue. It coulda happened to anybody. I'm not opposed to people walking on the tracks, or trustees investing in the stock market, but when the warning signs appear, it's time to get off the tracks and out of the market. Especially if you're a highly paid professional investment manager. See also . . . [URL='http://www.centralstatesfunds.org/Locals/']Central States Funds - Local Unions[/URL] [/QUOTE]
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