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UPS Union Issues
30 and out? What's going on in the Central States?
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<blockquote data-quote="Dracula" data-source="post: 1141280" data-attributes="member: 42691"><p><a href="http://dailycaller.com/2013/04/18/teamsters-pension-crisis-sapping-hoffas-support-power/" target="_blank">Teamsters pension crisis sapping Hoffa’s support, power | The Daily Caller</a></p><p></p><p>This is why any additions UPS makes to our pension really means nothing. Central States told us that there is NO POSSIBILITY of earning it's way out of the hole it is in. It's not a question of if the pension fund runs out of money, but when it does. That is a fact. CS mentioned that only Congressional legislation can help the fund. Um, good luck with that, unless said legislation is an across the board cut in the pension. That is, most likely, what will happen. Either way, whatever promises UPS gives us regarding the amount of money we are due at retirement, will be a shadow of what we will most likely receive.</p><p></p><p>The bottom line is this: any extra money UPS is to contribute according to this contract, if approved, will be shiny paint on a rusted-out car.</p><p></p><p>Sad, but true. Start filling those 401(k)s now people.</p></blockquote><p></p>
[QUOTE="Dracula, post: 1141280, member: 42691"] [url=http://dailycaller.com/2013/04/18/teamsters-pension-crisis-sapping-hoffas-support-power/]Teamsters pension crisis sapping Hoffa’s support, power | The Daily Caller[/url] This is why any additions UPS makes to our pension really means nothing. Central States told us that there is NO POSSIBILITY of earning it's way out of the hole it is in. It's not a question of if the pension fund runs out of money, but when it does. That is a fact. CS mentioned that only Congressional legislation can help the fund. Um, good luck with that, unless said legislation is an across the board cut in the pension. That is, most likely, what will happen. Either way, whatever promises UPS gives us regarding the amount of money we are due at retirement, will be a shadow of what we will most likely receive. The bottom line is this: any extra money UPS is to contribute according to this contract, if approved, will be shiny paint on a rusted-out car. Sad, but true. Start filling those 401(k)s now people. [/QUOTE]
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30 and out? What's going on in the Central States?
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