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Brown Cafe UPS Forum
UPS Union Issues
1997 Strike. Old heads only. On Topic.
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<blockquote data-quote="DELACROIX" data-source="post: 3630207" data-attributes="member: 49065"><p>Sounds like you have done your homework on this subject. I always thought that if a Pension Plan reaches 100 % or over vesting ratio that it could actually pay for the promised benefits with just the interest gained on their investments. In other words they would not have to put in any more monetary contributions as long as they are getting a good return. UPS made over 14 percent interest last year on their controlled pension trusts (UPS Pension Plan, UPS Retirement Plan and the IBT/UPS pension). Some of the surplus from the new corporate tax break went into their retirement plans to push them over 100 percent. What is your take on this?</p><p></p><p>Another issue about the Central States problems is that those IBT/UPS Plan retirees who left with 30 or more years under Central at age 55 back in 2008 have now reached the age of 65, they will now be getting a check from the Central for whatever amount they had vested. Thus relieving the company from paying for all the early retirement benefits. This is really going to push the Central closer to bankruptcy.</p></blockquote><p></p>
[QUOTE="DELACROIX, post: 3630207, member: 49065"] Sounds like you have done your homework on this subject. I always thought that if a Pension Plan reaches 100 % or over vesting ratio that it could actually pay for the promised benefits with just the interest gained on their investments. In other words they would not have to put in any more monetary contributions as long as they are getting a good return. UPS made over 14 percent interest last year on their controlled pension trusts (UPS Pension Plan, UPS Retirement Plan and the IBT/UPS pension). Some of the surplus from the new corporate tax break went into their retirement plans to push them over 100 percent. What is your take on this? Another issue about the Central States problems is that those IBT/UPS Plan retirees who left with 30 or more years under Central at age 55 back in 2008 have now reached the age of 65, they will now be getting a check from the Central for whatever amount they had vested. Thus relieving the company from paying for all the early retirement benefits. This is really going to push the Central closer to bankruptcy. [/QUOTE]
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1997 Strike. Old heads only. On Topic.
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