Anyone with time in Central States should vote no !!!

chester70

New Member
(If the benefit paid from the cs plan is reduced as permitted or required by law , the amount of such reduction shall not be included in this offset)
 

BigBrown87

If it’s brown, it’s going down
Already voted no, absentee ballot thanks Dennis for all your hard work but you did not finish the job. Please work as directed and start thinking for the members benefit not the companies.
 

BigUnionGuy

Got the T-Shirt
I believe we’re gonna get shafted when we turn 65 !!

(If the benefit paid from the cs plan is reduced as permitted or required by law , the amount of such reduction shall not be included in this offset)


How are we going to get shafted.... when the language you posted says different ?


Is this new language?


No.


I believe that’s already in the master


It's been in the Master since 2008.

That's what protects us, if Central States defaults. Then UPS foots the entire bill.



-Bug-
 

chester70

New Member
The offset is the portion of your retirement you get from central states when you turn 65 , when central states goes broke(5-7 years) or reduces pensions ups / teamsters pension are not gonna pick up the difference the way I read it .
 

BigUnionGuy

Got the T-Shirt
The offset is the portion of your retirement you get from central states when you turn 65 , when central states goes broke(5-7 years) or reduces pensions ups / teamsters pension are not gonna pick up the difference the way I read it .


You're reading it wrong.


Trust me.... I was there at the 2-man committee in 2007.

The IBT allowing UPS to pay their withdraw liability and start their own pension fund

was contingent on them picking up the tab if Central States defaults.



-Bug-
 

chester70

New Member
Well I hope so , asked b.a. about it a couple months ago ,and he was going to get back to me , never did, so I figured the worst ! Sorry to rile * up !
 

BigUnionGuy

Got the T-Shirt
Well I hope so , asked b.a. about it a couple months ago ,and he was going to get back to me , never did, so I figured the worst !


I can't answer for what other people do.

But, shame on your BA for not getting back with you.


I had a great mentor.

First person in my Local, to be elected into office for 4 consecutive terms.


The most important thing I learned right off the bat was;

If you don't know the answer to a members question, find out, and get back with them.

(even if you know that's not what they want to hear)

Because when it comes time for re-election, they won't forget you. :biggrin:


Sorry to rile * up !


It's all good.

I'm just glad I saw this thread and could respond....

Before it was 25 pages of innuendo.



-Bug-
 

browned out

Well-Known Member
PIOnline : Subscription Center
You're reading it wrong.


Trust me.... I was there at the 2-man committee in 2007.

The IBT allowing UPS to pay their withdraw liability and start their own pension fund

was contingent on them picking up the tab if Central States defaults.



-Bug-

UPS has already tried to wiggle out of this. If you have any time in the Central States, your central states portion is not safe. Vote NO.


A “backstop agreement” in that CBA stated that in the event “at some point in the future if Central States ever lawfully cut benefits to that group, UPS would provide a supplemental retiree benefit,” UPS spokesman Steve Gaut said in a telephone interview. As a result of that backstop agreement now, we are potentially liable for a future payment to those (UPS) employees that are retirees that are eligible, associated with what that benefit cut turns out to be,” Mr. Gaut said.
.
 
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browned out

Well-Known Member
UPS can try and wiggle all they want.

They are still on the hook.... by virtue of the contractual language.

Contractually put in means it can be contractually taken out. Pitting UPS Pension only participants against UPSers with CS Pension time is how UPS will remove the make up difference clause.
 

browned out

Well-Known Member
But, it hasn't.




Let me know when that happens.


The tinfoil hat....

Is strong with the paranoia group.


We are not privy to if it is still in the Central Supplement because none of us has seen the supplement. It is complete. We have a right to see it now. No viable reason to withhold the supplement from the members. Hopefully it is still in there and it has been strengthened.
 
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