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Brown Cafe UPS Forum
UPS Union Issues
Another example of Central States mismanagement
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<blockquote data-quote="JonFrum" data-source="post: 218142"><p><strong>Plan Liabilities: Current vs. Future</strong></p><p></p><p></p><p></p><p>What I say makes no sense to you, but it makes perfect sense to the entire financial community. The Assets-Minus-Liabilities-Equals-Net Assets information is taken directly from Form 5500, Schedule H, Part One, Asset and Liability Statement, lines friend, k, and i.</p><p></p><p>Obviously Net Assets are accumulated for the purpose of paying future retirement benefits. If there is not enough Net Assets on hand, there is a Funding Deficiency. I realize future retirements are a liability of the Fund, but the financial community doesn't include them as a current liability. Instead they report Funding Levels as a seperate matter. </p><p></p><p>Central States has a major Funding Deficiency, but not as big as you enjoy claiming. </p><p></p><p>By the way, according to your method, a fully funded plan would be considered flat broke, because its entire Net Assets are earmarked to pay its entire future retirement obligations, without a penny left over.</p></blockquote><p></p>
[QUOTE="JonFrum, post: 218142"] [b]Plan Liabilities: Current vs. Future[/b] What I say makes no sense to you, but it makes perfect sense to the entire financial community. The Assets-Minus-Liabilities-Equals-Net Assets information is taken directly from Form 5500, Schedule H, Part One, Asset and Liability Statement, lines friend, k, and i. Obviously Net Assets are accumulated for the purpose of paying future retirement benefits. If there is not enough Net Assets on hand, there is a Funding Deficiency. I realize future retirements are a liability of the Fund, but the financial community doesn't include them as a current liability. Instead they report Funding Levels as a seperate matter. Central States has a major Funding Deficiency, but not as big as you enjoy claiming. By the way, according to your method, a fully funded plan would be considered flat broke, because its entire Net Assets are earmarked to pay its entire future retirement obligations, without a penny left over. [/QUOTE]
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