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Brown Cafe UPS Forum
UPS Union Issues
Worst part of contract
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<blockquote data-quote="GuyinBrown" data-source="post: 253403" data-attributes="member: 9444"><p>I understand and agree with that point. I think however, that in current terms, it means that if somebody is close to retiring with 30 years right now and they're only going to be say 55, and because of the 6% per year penalties for retiring under age 62, UPS is promising to make up the difference to get them up to $3000. </p><p></p><p>I think that one of the hidden benefits to UPS getting out of CS, is that it will now fall on the shoulders of the other contributing companies ( like Yellow ) to float the pension fund. Yellow has already expressed a desire to get out of CS, so I would think that another large influx of cash in the form of another withdrawal penalty would only strengthen the fund.</p></blockquote><p></p>
[QUOTE="GuyinBrown, post: 253403, member: 9444"] I understand and agree with that point. I think however, that in current terms, it means that if somebody is close to retiring with 30 years right now and they're only going to be say 55, and because of the 6% per year penalties for retiring under age 62, UPS is promising to make up the difference to get them up to $3000. I think that one of the hidden benefits to UPS getting out of CS, is that it will now fall on the shoulders of the other contributing companies ( like Yellow ) to float the pension fund. Yellow has already expressed a desire to get out of CS, so I would think that another large influx of cash in the form of another withdrawal penalty would only strengthen the fund. [/QUOTE]
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Worst part of contract
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