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Brown Cafe UPS Forum
UPS Union Issues
Central States going broke---
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<blockquote data-quote="Up In Smoke" data-source="post: 4719562" data-attributes="member: 79702"><p>I'm not involved with the Central States Fund, only my Locals' fund. Most of their woes predates me and I can only relay what I know. The fund froze or reduced benefits shortly after 911 and the financial crash that followed it. It fell into critical status in 2003 and UPS left in 2007. Why did the IBT allow this to happen, I don't know. Why was Bear Stearns allowed to fail and the government bailed out all other Insurance companies and banks? Let this be a lesson to all members, we need to band together, vote in every election and look out for our futures.</p></blockquote><p></p>
[QUOTE="Up In Smoke, post: 4719562, member: 79702"] I'm not involved with the Central States Fund, only my Locals' fund. Most of their woes predates me and I can only relay what I know. The fund froze or reduced benefits shortly after 911 and the financial crash that followed it. It fell into critical status in 2003 and UPS left in 2007. Why did the IBT allow this to happen, I don't know. Why was Bear Stearns allowed to fail and the government bailed out all other Insurance companies and banks? Let this be a lesson to all members, we need to band together, vote in every election and look out for our futures. [/QUOTE]
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