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UPS Union Issues
APWA - Is it a real alternative or a foolish choice?
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<blockquote data-quote="sawdusttv" data-source="post: 186623" data-attributes="member: 7476"><p>Hello again 705,</p><p> </p><p>Lets take a look. In the CS plan, which by the way, is the biggest plan in the country, and is only 47.2% funded. We, the UPS employee only get .40 cent for every dollar the UPS puts in the fund( and CS wants an additional 25 million dollars per year dumped into the the fund by UPS or they are going to turn us over to the government fund come 2008). The rest goes to retirees of different companies.</p><p> </p><p>When the APWA becomes or CBA all funds contributed on UPS employees behave into CS fund will be transfered to the APWAs fund ( per the supreme court rules it the New England states fund law suit). Keeping in mind that the CS fund is only 47.2% funded. We will only get the portion that has not be squandered,( which includeds our current retirees funds). At that point when the funds are safely in the APWA fund, we will go from getting 40 cent on the dollar to getting dollar for dollar plus interest. It want take long at that rate to build our funds back to what they should be and better.</p></blockquote><p></p>
[QUOTE="sawdusttv, post: 186623, member: 7476"] Hello again 705, Lets take a look. In the CS plan, which by the way, is the biggest plan in the country, and is only 47.2% funded. We, the UPS employee only get .40 cent for every dollar the UPS puts in the fund( and CS wants an additional 25 million dollars per year dumped into the the fund by UPS or they are going to turn us over to the government fund come 2008). The rest goes to retirees of different companies. When the APWA becomes or CBA all funds contributed on UPS employees behave into CS fund will be transfered to the APWAs fund ( per the supreme court rules it the New England states fund law suit). Keeping in mind that the CS fund is only 47.2% funded. We will only get the portion that has not be squandered,( which includeds our current retirees funds). At that point when the funds are safely in the APWA fund, we will go from getting 40 cent on the dollar to getting dollar for dollar plus interest. It want take long at that rate to build our funds back to what they should be and better. [/QUOTE]
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