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Brown Cafe UPS Forum
UPS Union Issues
Are You Getting Tired Of Sacrificing Your Pension Money?
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<blockquote data-quote="brez3903" data-source="post: 229062" data-attributes="member: 8037"><p>tieguy, it's not being diversified enough that causes the problem with the pensions, it was the failure to forsee the trucking outfits that would go belly up when they were brought into the plan. multi-employer plans were used to cut costs to insure our pensions, my local pushed the multi-employer plan like it was the best thing since sliced bread. since we went to a multi- employer plan we went from 90 percent funded to 50 percent, local 710 stayed a single employer plan, their payout is twice what a multi-employer pays out for a thirty and out pension, so your theory on being diversified dosen't hold water.</p></blockquote><p></p>
[QUOTE="brez3903, post: 229062, member: 8037"] tieguy, it's not being diversified enough that causes the problem with the pensions, it was the failure to forsee the trucking outfits that would go belly up when they were brought into the plan. multi-employer plans were used to cut costs to insure our pensions, my local pushed the multi-employer plan like it was the best thing since sliced bread. since we went to a multi- employer plan we went from 90 percent funded to 50 percent, local 710 stayed a single employer plan, their payout is twice what a multi-employer pays out for a thirty and out pension, so your theory on being diversified dosen't hold water. [/QUOTE]
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Are You Getting Tired Of Sacrificing Your Pension Money?
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