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Brown Cafe UPS Forum
UPS Union Issues
15% PENSION CUT COMING SOON
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<blockquote data-quote="BrownMonk" data-source="post: 2785825" data-attributes="member: 66576"><p>First, it is over 70%. Second,70% means that if the Fund stopped taking contributions today, that they would make it over 50 years for everyone entitled to money today. You just aren't looking at the big picture. If you move into the green, there is no withdraw liability to all the other companies. In otherwords, the white paper contracts would bail out of the fund and talk their guys into a 401K. Those future funds would not be there everyone else in the future.</p><p></p><p>If you're talking NY, they announced that they aren't going forward with any cuts(15%) because of some concerns from the Treasury Dept.</p></blockquote><p></p>
[QUOTE="BrownMonk, post: 2785825, member: 66576"] First, it is over 70%. Second,70% means that if the Fund stopped taking contributions today, that they would make it over 50 years for everyone entitled to money today. You just aren't looking at the big picture. If you move into the green, there is no withdraw liability to all the other companies. In otherwords, the white paper contracts would bail out of the fund and talk their guys into a 401K. Those future funds would not be there everyone else in the future. If you're talking NY, they announced that they aren't going forward with any cuts(15%) because of some concerns from the Treasury Dept. [/QUOTE]
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15% PENSION CUT COMING SOON
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