Home
Forums
New posts
Search forums
What's new
New posts
Latest activity
Members
Current visitors
Log in
Register
What's new
Search
Search
Search titles only
By:
New posts
Search forums
Menu
Log in
Register
Install the app
Install
Home
Forums
Brown Cafe UPS Forum
UPS Union Issues
UPS Teamsters keeping their next two Wage increases
JavaScript is disabled. For a better experience, please enable JavaScript in your browser before proceeding.
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an
alternative browser
.
Reply to thread
Message
<blockquote data-quote="Inthegame" data-source="post: 2364935" data-attributes="member: 37112"><p>When the employer signs the multi employer pension trust participation agreement they are in fact agreeing to not go out of business. They're also agreeing to make all obligated payments to provide the covered employees with the promised benefits which includes their portion of the unfunded liability (the difference between the funded status and 100%) if they quit business.</p><p> </p><p>When a multi employer pension plan announces it's funded status, it is assuming the employers benefit obligation remains intact indefinitely. If those obligated payments aren't made, the unfunded liability increases for all remaining participants. So Big Jim's liability is his plus any other deadbeat prior participant, even if Jim skipped a couple of fishing trips to keep the doors open <em>and made all his required contributions while in business</em>.</p></blockquote><p></p>
[QUOTE="Inthegame, post: 2364935, member: 37112"] When the employer signs the multi employer pension trust participation agreement they are in fact agreeing to not go out of business. They're also agreeing to make all obligated payments to provide the covered employees with the promised benefits which includes their portion of the unfunded liability (the difference between the funded status and 100%) if they quit business. When a multi employer pension plan announces it's funded status, it is assuming the employers benefit obligation remains intact indefinitely. If those obligated payments aren't made, the unfunded liability increases for all remaining participants. So Big Jim's liability is his plus any other deadbeat prior participant, even if Jim skipped a couple of fishing trips to keep the doors open [I]and made all his required contributions while in business[/I]. [/QUOTE]
Insert quotes…
Verification
Post reply
Home
Forums
Brown Cafe UPS Forum
UPS Union Issues
UPS Teamsters keeping their next two Wage increases
Top