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Brown Cafe UPS Forum
UPS Union Issues
What happened in the 2008 contract??
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<blockquote data-quote="grgrcr88" data-source="post: 651347" data-attributes="member: 16611"><p>While all this may be true, the fact is the benefits were being drastically reduced in the central states plan and were going to have to be cut even deeper if not for the 6.1 billion dollar cash infusion by UPS. Since that time the fund has recovered somewhat as the market recovered. But without the buyout the fund was very much headed for insolvency and being taken over by the PBGC. If that happened the chances of ever getting benefite restored to the prior level would be 0. At least their is a chance now!!</p></blockquote><p></p>
[QUOTE="grgrcr88, post: 651347, member: 16611"] While all this may be true, the fact is the benefits were being drastically reduced in the central states plan and were going to have to be cut even deeper if not for the 6.1 billion dollar cash infusion by UPS. Since that time the fund has recovered somewhat as the market recovered. But without the buyout the fund was very much headed for insolvency and being taken over by the PBGC. If that happened the chances of ever getting benefite restored to the prior level would be 0. At least their is a chance now!! [/QUOTE]
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What happened in the 2008 contract??
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