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UPS Partners
2023 Teamster Contract Negotiation - Partner Edition
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<blockquote data-quote="DELACROIX" data-source="post: 5228021" data-attributes="member: 49065"><p>I believe the reason for the early settlement had to due to the Pension Protection act of 2006, Thinking there were penalties applied to the underfunded pension plans after January 2008. Both the Union and Company wanted this contract settled before that deadline.</p><p></p><p>Meanwhile the IBT/UPS pension was created in 2007 after UPS paid that 6 billion dollar withdrawal fee to the Central States pension plan. Of course that payment was affected by the 2008 market collapse. </p><p></p><p>The failed APWA attempt was a desperate attempt to get control over the monetary contributions, they were promising the moon in order to decertify the Teamsters after everybody got wind of how bad the Central really was.</p></blockquote><p></p>
[QUOTE="DELACROIX, post: 5228021, member: 49065"] I believe the reason for the early settlement had to due to the Pension Protection act of 2006, Thinking there were penalties applied to the underfunded pension plans after January 2008. Both the Union and Company wanted this contract settled before that deadline. Meanwhile the IBT/UPS pension was created in 2007 after UPS paid that 6 billion dollar withdrawal fee to the Central States pension plan. Of course that payment was affected by the 2008 market collapse. The failed APWA attempt was a desperate attempt to get control over the monetary contributions, they were promising the moon in order to decertify the Teamsters after everybody got wind of how bad the Central really was. [/QUOTE]
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