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UPS Union Issues
Apwa/ Pittsburgh PA
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<blockquote data-quote="JonFrum" data-source="post: 230460"><p>As I explained months ago, multi-employer pension plans are jointly trusteed by a board, half labor, half management. Usually our plans are half Teamsters Officers, half executives of the major contributing employers. All trustees have a high legal responsibility to act as Fiduciaries, and to make decisions in the sole interest of the participants and beneficiaries.</p><p></p><p>ALL Contributing Employers, including UPS, sign plan documents agreeing that ALL employer trustees are their representatives and that they ratify ALL legitimate actions taken by ALL the employer trustees, past, and future. The language is also in the UPS Contract, which we all vote on, and UPS agreed to. (Here in the New England Supplement the pension language is in Article 69, and the Health & Welfare language is in Article 68.)</p><p></p><p>A fiduciary is like a baseball umpire. He is above it all. He not allowed to play favorites. Any suggestion that UPSers would be better off if a UPS guy (or more UPS guys) were on the Board of Trustees is like saying we need an umpire who is a fan of our team so he will throw the game in our favor by making biased calls. </p><p></p><p>I'm not opposed to a UPSer being on the board. I just think everyone should understand the dishonest motive some people have in proposing it. It really shouldn't matter who an employer trustee works for. He is forbidden by law to show any favoritism. This isn't like Congress, where you're Representative can be expected to favor your district and "bring home the bacon." Fiduciaries are obligated to act in the best interests of all, to follow the "reasonable man" rule, and to act as would an expert in the matters before them.</p><p></p><p>By the way, can anyone think of a single time UPS shared any useful pension or H & W information with us that they got as a result of being a Contributing Employer or by having a UPS executive on the Board of Trustees? Normally they keep us mushrooms in the dark just like the Teamsters (and now the APWA!!!) UPS has even signed a non-disclosure agreement with Central States! In addition to their usual agreement not to talk about contract negotiations. </p><p></p><p>P.S.</p><p>Why does everything I say seem to go in one ear and out the other? Why is everything endlessly debatable? This trustee issue should have been understood years ago.</p></blockquote><p></p>
[QUOTE="JonFrum, post: 230460"] As I explained months ago, multi-employer pension plans are jointly trusteed by a board, half labor, half management. Usually our plans are half Teamsters Officers, half executives of the major contributing employers. All trustees have a high legal responsibility to act as Fiduciaries, and to make decisions in the sole interest of the participants and beneficiaries. ALL Contributing Employers, including UPS, sign plan documents agreeing that ALL employer trustees are their representatives and that they ratify ALL legitimate actions taken by ALL the employer trustees, past, and future. The language is also in the UPS Contract, which we all vote on, and UPS agreed to. (Here in the New England Supplement the pension language is in Article 69, and the Health & Welfare language is in Article 68.) A fiduciary is like a baseball umpire. He is above it all. He not allowed to play favorites. Any suggestion that UPSers would be better off if a UPS guy (or more UPS guys) were on the Board of Trustees is like saying we need an umpire who is a fan of our team so he will throw the game in our favor by making biased calls. I'm not opposed to a UPSer being on the board. I just think everyone should understand the dishonest motive some people have in proposing it. It really shouldn't matter who an employer trustee works for. He is forbidden by law to show any favoritism. This isn't like Congress, where you're Representative can be expected to favor your district and "bring home the bacon." Fiduciaries are obligated to act in the best interests of all, to follow the "reasonable man" rule, and to act as would an expert in the matters before them. By the way, can anyone think of a single time UPS shared any useful pension or H & W information with us that they got as a result of being a Contributing Employer or by having a UPS executive on the Board of Trustees? Normally they keep us mushrooms in the dark just like the Teamsters (and now the APWA!!!) UPS has even signed a non-disclosure agreement with Central States! In addition to their usual agreement not to talk about contract negotiations. P.S. Why does everything I say seem to go in one ear and out the other? Why is everything endlessly debatable? This trustee issue should have been understood years ago. [/QUOTE]
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