Home
Forums
New posts
Search forums
What's new
New posts
Latest activity
Members
Current visitors
Log in
Register
What's new
Search
Search
Search titles only
By:
New posts
Search forums
Menu
Log in
Register
Install the app
Install
Home
Forums
Brown Cafe UPS Forum
UPS Discussions
Carol on CNBC
JavaScript is disabled. For a better experience, please enable JavaScript in your browser before proceeding.
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an
alternative browser
.
Reply to thread
Message
<blockquote data-quote="DELACROIX" data-source="post: 5440942" data-attributes="member: 49065"><p>I am a little familiar with your pension plan, that 3 % penalty is far better than the 6 % one that we Union folk currently enjoy. Back in 1992 before it went public UPS shares were valued at 30 dollars a share, those <strong>old time partners </strong>had access to a ton of shares (MIP) and other performance incentive programs. When it did go public most of them were bragging about becoming millionaires in our building, a lot of those management people knew before hand that it was going public and were obtaining second mortgages on their homes in order to buy additional stock before the official announcement.</p><p></p><p>Not sure why they are eliminating any future vesting in you pension plans, probably had to do with the increasing costs associated with maintaining their Defined Benefit Pension Plans.</p><p>Another factor could be they are going to try to negotiate out or reduce their Collective Bargaining pension obligations in 2023.</p></blockquote><p></p>
[QUOTE="DELACROIX, post: 5440942, member: 49065"] I am a little familiar with your pension plan, that 3 % penalty is far better than the 6 % one that we Union folk currently enjoy. Back in 1992 before it went public UPS shares were valued at 30 dollars a share, those [B]old time partners [/B]had access to a ton of shares (MIP) and other performance incentive programs. When it did go public most of them were bragging about becoming millionaires in our building, a lot of those management people knew before hand that it was going public and were obtaining second mortgages on their homes in order to buy additional stock before the official announcement. Not sure why they are eliminating any future vesting in you pension plans, probably had to do with the increasing costs associated with maintaining their Defined Benefit Pension Plans. Another factor could be they are going to try to negotiate out or reduce their Collective Bargaining pension obligations in 2023. [/QUOTE]
Insert quotes…
Verification
Post reply
Home
Forums
Brown Cafe UPS Forum
UPS Discussions
Carol on CNBC
Top