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<blockquote data-quote="nospinzone" data-source="post: 115294" data-attributes="member: 1335"><p><span style="color: black"></span></p><p><span style="color: black"></span></p><p><span style="color: black">You won't. In my opinion/understanding of the APWA's plan,,,,The current contribution rate will remain in place. The APWA pension fund will be near 100% funded because <strong>your</strong> contributions will go towards <strong>your</strong> retirement as opposed to the current plan where 60% of your money goes to some other guy. Thus no need to garnish your pay raise. And to back that up, Van and Danny have been talking to pension fund managers who will provide online tracking of your pension benefits <strong>down to the dollar</strong>. You will be able to track your individual contributions and see the actual math used to calculate your benefits. Following the NLRB election victory, APWA will then take legal action to take control of the monies/contributions of all <strong>active</strong> UPS employees who contributed into the IBT plans. When the dust settles, one of two things will happen. </span></p><p><span style="color: black"></span></p><p><span style="color: black">1) The federal judge will give APWA control of all monies contributed on behalf of UPS employees. Since the contributer to retire-ee ratio will be so high (because the fund will only be paying out to UPS contributers) there will be no need to sacrifice your raise. Benefits of retired UPS employees will be guaranteed by UPS's federal legal responsibility to keep the IBT funds solvent. </span></p><p><span style="color: black"></span></p><p> <span style="color: black">2) The federal judge will deny APWA's request and APWA will only control contributions deposited by UPS on behalf of active employees--after the election date/agent transfer date. The new APWA pension fund would have few if any liabilities in terms of retirees, and therefore the need to sacrifice the raise would not be present. UPS corporates responsibility to maintain the solvency of the IBT pension funds would become a federal legal one rather than an obligation under a union contract. Thus you would not have to give up your raise to secure the IBT pension funds.</span></p><p><span style="color: black"></span></p><p><span style="color: black">Hope that answers more questions than it makes. </span></p><p><span style="color: black">Nospinzone<img src="/community/styles/default/xenforo/smilies/group1/cool.gif" class="smilie" loading="lazy" alt=":cool:" title="Cool :cool:" data-shortname=":cool:" /></span></p></blockquote><p></p>
[QUOTE="nospinzone, post: 115294, member: 1335"] [COLOR=black] You won't. In my opinion/understanding of the APWA's plan,,,,The current contribution rate will remain in place. The APWA pension fund will be near 100% funded because [B]your[/B] contributions will go towards [B]your[/B] retirement as opposed to the current plan where 60% of your money goes to some other guy. Thus no need to garnish your pay raise. And to back that up, Van and Danny have been talking to pension fund managers who will provide online tracking of your pension benefits [B]down to the dollar[/B]. You will be able to track your individual contributions and see the actual math used to calculate your benefits. Following the NLRB election victory, APWA will then take legal action to take control of the monies/contributions of all [B]active[/B] UPS employees who contributed into the IBT plans. When the dust settles, one of two things will happen. 1) The federal judge will give APWA control of all monies contributed on behalf of UPS employees. Since the contributer to retire-ee ratio will be so high (because the fund will only be paying out to UPS contributers) there will be no need to sacrifice your raise. Benefits of retired UPS employees will be guaranteed by UPS's federal legal responsibility to keep the IBT funds solvent. 2) The federal judge will deny APWA's request and APWA will only control contributions deposited by UPS on behalf of active employees--after the election date/agent transfer date. The new APWA pension fund would have few if any liabilities in terms of retirees, and therefore the need to sacrifice the raise would not be present. UPS corporates responsibility to maintain the solvency of the IBT pension funds would become a federal legal one rather than an obligation under a union contract. Thus you would not have to give up your raise to secure the IBT pension funds. Hope that answers more questions than it makes. Nospinzone:cool:[/color] [/QUOTE]
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