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UPS Union Issues
1997 Strike. Old heads only. On Topic.
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<blockquote data-quote="DELACROIX" data-source="post: 3630482" data-attributes="member: 49065"><p>Or Peer 80 in the West.</p><p></p><p>We all know the issues with any failing pension plan..one of the solutions would of been having a constant flow of new participants to contribute to the plan. A lot of the blame on this has to do with the unions not adding members to pay for the older ones closer to retirement. What happens is the Central States mess and no one wants to take responsibility or find a solution. It appears that all parties involved is counting support from Washington and legislate a fair and equitable solution to help any retiree. Sometime we forget it isn't all about the UPS retiree or future retiree, a lot of people will be in a big hurt if the Central goes south permanently. I believe that the federal pension insurance plan is underfunded due to corporations ending traditional pension funds and switching to the 401k, putting the burden of the employee to pay for their own. Every Pension Plan has to pay for federal insurance to cover their participants if they happen to go into default, apparently there is not enough money in that fund to cover the huge Central with being in the red for 17.5 Billion.</p><p></p><p>So folks, here is were we are: Nobody has found a solution to this fiasco, the corporations do not want the responsibility to cover their retirees or future retirees. Hurts their bottom line and shareholders, so they are collecting record profits without being involved with the retiree's who helped them make them, or not really wanting to share. No appreciation, class or loyalty and they wonder why they have a workforce who doesn't give a damn anymore, you reap what you sow, that applies to our management groups also.</p><p></p><p>The Feds do not have the money in their pension insurance to cover these failing plans and do not want to be holding the bag. Blame has to go to those agencies who were put into place to prevent these problems. Is the Department of Labor just full of empty suits with no real power to come down hard when they see these corporations finding loopholes in the system and bail out on their retirees. The whole ERISA act is a joke without real teeth to sent a message to those that are committing Fraud and Concealment. </p><p></p><p>The Union has no plan to fix this problem and is counting on Federal help especially with the Central, the small union controlled plans in the east can be solved they are no way approaching the Central's underfunded liability. With the Unions not growing or remain stagnate they have played a major role with this problem, they have been too busy covering up instead of counterpunching with the agencies investigating their corruption problems, playing politics and mind games with the membership. They never advanced into the 21 century, so continue the business as usual mentality and secret backdoor closed negotiations, hiding information from their membership and thinking we are so stupid that we will fall for anything if they throw a little eye candy bonus (retro) in the pot.</p></blockquote><p></p>
[QUOTE="DELACROIX, post: 3630482, member: 49065"] Or Peer 80 in the West. We all know the issues with any failing pension plan..one of the solutions would of been having a constant flow of new participants to contribute to the plan. A lot of the blame on this has to do with the unions not adding members to pay for the older ones closer to retirement. What happens is the Central States mess and no one wants to take responsibility or find a solution. It appears that all parties involved is counting support from Washington and legislate a fair and equitable solution to help any retiree. Sometime we forget it isn't all about the UPS retiree or future retiree, a lot of people will be in a big hurt if the Central goes south permanently. I believe that the federal pension insurance plan is underfunded due to corporations ending traditional pension funds and switching to the 401k, putting the burden of the employee to pay for their own. Every Pension Plan has to pay for federal insurance to cover their participants if they happen to go into default, apparently there is not enough money in that fund to cover the huge Central with being in the red for 17.5 Billion. So folks, here is were we are: Nobody has found a solution to this fiasco, the corporations do not want the responsibility to cover their retirees or future retirees. Hurts their bottom line and shareholders, so they are collecting record profits without being involved with the retiree's who helped them make them, or not really wanting to share. No appreciation, class or loyalty and they wonder why they have a workforce who doesn't give a damn anymore, you reap what you sow, that applies to our management groups also. The Feds do not have the money in their pension insurance to cover these failing plans and do not want to be holding the bag. Blame has to go to those agencies who were put into place to prevent these problems. Is the Department of Labor just full of empty suits with no real power to come down hard when they see these corporations finding loopholes in the system and bail out on their retirees. The whole ERISA act is a joke without real teeth to sent a message to those that are committing Fraud and Concealment. The Union has no plan to fix this problem and is counting on Federal help especially with the Central, the small union controlled plans in the east can be solved they are no way approaching the Central's underfunded liability. With the Unions not growing or remain stagnate they have played a major role with this problem, they have been too busy covering up instead of counterpunching with the agencies investigating their corruption problems, playing politics and mind games with the membership. They never advanced into the 21 century, so continue the business as usual mentality and secret backdoor closed negotiations, hiding information from their membership and thinking we are so stupid that we will fall for anything if they throw a little eye candy bonus (retro) in the pot. [/QUOTE]
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1997 Strike. Old heads only. On Topic.
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