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Brown Cafe UPS Forum
UPS Retirement Topics
YRCW bankruptcy impact on UPS employee pensions
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<blockquote data-quote="Dustyroads" data-source="post: 655872" data-attributes="member: 22610"><p>Yes, the Central States fund is seriously underfunded. They have sent all of the participants notices of that fact. Now that UPS is no longer contributing to the fund, it is struggling. If YRC goes under, that is one more contributor gone while the fund still has obligations to vested YRC employees. Should the Central States fund fail, it will put a much greater responsiblility on the new UPS/Teamster plan that would have to pick up the difference between the government guarantee and the guarantees made in the new plan. On more uncertain ground are the Central States members who have already retired and don't have the protections offered those in the UPS/Teamster plan.</p></blockquote><p></p>
[QUOTE="Dustyroads, post: 655872, member: 22610"] Yes, the Central States fund is seriously underfunded. They have sent all of the participants notices of that fact. Now that UPS is no longer contributing to the fund, it is struggling. If YRC goes under, that is one more contributor gone while the fund still has obligations to vested YRC employees. Should the Central States fund fail, it will put a much greater responsiblility on the new UPS/Teamster plan that would have to pick up the difference between the government guarantee and the guarantees made in the new plan. On more uncertain ground are the Central States members who have already retired and don't have the protections offered those in the UPS/Teamster plan. [/QUOTE]
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YRCW bankruptcy impact on UPS employee pensions
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