UPS, Teamsters close to withdrawal deal

Discussion in 'The Latest UPS Headlines' started by cheryl, Aug 8, 2007.

  1. cheryl

    cheryl I started this. Staff Member

    UPS, Teamsters close to withdrawal deal - Pensions & Investments

    United Parcel Service of America Inc., Atlanta, and Teamsters Central States, Southeast & Southwest Areas Pension Fund, Rosemont, Ill., reached an agreement on the company’s potential withdrawal from the $20.7 billion fund, according to a letter the International Brotherhood of Teamsters sent to local union offices.
     
  2. shrimpfire

    shrimpfire shrimpfire

    How will this affect people like me with over 36 yrs shrimpfire
     
  3. hoser

    hoser Industrial Slob

    i don't know, maybe larger text would help inspire a reply?
     
  4. Cole

    Cole New Member

    If you have over 36 yrs, you should have been retired!
     
  5. hoser

    hoser Industrial Slob

    great point cole, thanks a lot!

    say, who's that sexy man that is your avatar?
     
  6. longlunchguy

    longlunchguy Runnin on Empty

    I thought that was Cole's dad in the avatar:lol: or maybe what you look like with a 36 yr pension from central states:crying:
     
  7. shrimpfire

    shrimpfire shrimpfire

    R we going to get two cks 1 from ups and 1 from teamsters? Any takes
     
  8. hoser

    hoser Industrial Slob

    yeah that :censored2: off glare is wicked :lol:
     
  9. wyobill

    wyobill New Member

    My Question is what happens to the years we have vested with CS?
    Will UPS assume our pension?
     
  10. 705red

    705red Browncafe Steward

    We will not know any of the details until it comes out for sure. But i doubt that ups will be buying out your previous years in cs.
     
  11. wyobill

    wyobill New Member


    They almost have too! Who would vote to pass the contract if UPS didn't
    assume our previous years vested.
     
  12. 705red

    705red Browncafe Steward

    It would be great for you guys if they did seeing what shape cs is in, but if im correct it looks like the withdrawl liabilty is around 6 billion just for ups tp leave the fund. Everything else will have to wait and see what the offer is.
     
  13. shrimpfire

    shrimpfire shrimpfire

    I guess we woould get 2 cks
     
  14. shrimpfire

    shrimpfire shrimpfire