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Brown Cafe UPS Forum
UPS Union Issues
APWA is controlled by a Union-busting Lawyer
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<blockquote data-quote="wildgoose" data-source="post: 184827" data-attributes="member: 5428"><p>Each year the Central States fund is in a spiral downward with the funding and even after a couple of good years in investments but when you pay out more than you receive its obvious that unless you keep cutting pension and insurance benefits you will eventually drain the bank and thats what we are experiencing now ! I have paid the teamsters over 20+ years for my security and this is what i get for my $. Everyone that hasn`t seen this coming is not looking at all the information. Funding minus the investment for 2005 was at 47.2% 2004 was at 50%+ and thats after making 13+% Erisa report via Central States shows the numbers and estimated $34 million in administrative cost for 2005 ? Thats 2% for managing the fund ! After each election you have lost ground on insurance and pension cuts. 2008 will be a very interesting contract with the teamsters negotiating. The fund has told all the locals that if they don`t get 8% increase in funds for next contract we will not be able to participate anymore in Central States ? So that shows you that the fund is close to the bottom of being taken over by the government which they can`t cover that nut ! Also get ready for the first ever payout of your pocket for insurance per month due to the lack of funding there too !</p></blockquote><p></p>
[QUOTE="wildgoose, post: 184827, member: 5428"] Each year the Central States fund is in a spiral downward with the funding and even after a couple of good years in investments but when you pay out more than you receive its obvious that unless you keep cutting pension and insurance benefits you will eventually drain the bank and thats what we are experiencing now ! I have paid the teamsters over 20+ years for my security and this is what i get for my $. Everyone that hasn`t seen this coming is not looking at all the information. Funding minus the investment for 2005 was at 47.2% 2004 was at 50%+ and thats after making 13+% Erisa report via Central States shows the numbers and estimated $34 million in administrative cost for 2005 ? Thats 2% for managing the fund ! After each election you have lost ground on insurance and pension cuts. 2008 will be a very interesting contract with the teamsters negotiating. The fund has told all the locals that if they don`t get 8% increase in funds for next contract we will not be able to participate anymore in Central States ? So that shows you that the fund is close to the bottom of being taken over by the government which they can`t cover that nut ! Also get ready for the first ever payout of your pocket for insurance per month due to the lack of funding there too ! [/QUOTE]
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APWA is controlled by a Union-busting Lawyer
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