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Brown Cafe UPS Forum
UPS Union Issues
Attention Teamsters in the central region.
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<blockquote data-quote="brownIEman" data-source="post: 1001265" data-attributes="member: 14596"><p>I get the money went into the general fund and not earmarked for UPSers. The whole idea of the withdrawal liability is to make up for the lack of future payments on behalf of your retirees in the system. It is not comparable however, to paying back taxes. Your statement "UPS owed the money from year's past" is not accurate. It would imply that UPS had not paid its full contribution payments to that point, which is not the case. Closer to say UPS owed the money for years future. And I understand it was owed as part of the agreement to withdraw from the plan, I never said paying the debt was anything to brag about, but it is also nothing to sweep under the rug. If you are going to mention orphaning retirees, it is simply disingenuous to overlook the withdrawal payout.</p></blockquote><p></p>
[QUOTE="brownIEman, post: 1001265, member: 14596"] I get the money went into the general fund and not earmarked for UPSers. The whole idea of the withdrawal liability is to make up for the lack of future payments on behalf of your retirees in the system. It is not comparable however, to paying back taxes. Your statement "UPS owed the money from year's past" is not accurate. It would imply that UPS had not paid its full contribution payments to that point, which is not the case. Closer to say UPS owed the money for years future. And I understand it was owed as part of the agreement to withdraw from the plan, I never said paying the debt was anything to brag about, but it is also nothing to sweep under the rug. If you are going to mention orphaning retirees, it is simply disingenuous to overlook the withdrawal payout. [/QUOTE]
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Attention Teamsters in the central region.
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