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Brown Cafe UPS Forum
UPS Union Issues
Central States going broke---
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<blockquote data-quote="DELACROIX" data-source="post: 4744807" data-attributes="member: 49065"><p>Corporate would of found a loophole already if they get out of that 2007 withdraw agreement..done deal and one of the reasons they gutted their management pension plan, frees up roughly 5 billion in contributions annually.</p><p></p><p>The UPS plan for mostly part timers will be on the table come 2023. I can see the company offered a matched 401k. The western’s peer 80 will still have part timers contributing monetary, very healthy returns currently.</p><p></p><p>The IAM pension plan were paying out similar to the Peer 80 plan, but had to reduce their future retiree benefits. Simply not enough newer participants to cover the benefits promised for the older ones.</p><p></p><p>I believe that the weekly contributions per full time members is bordering over 2,000 a month, if the stock market and investment annuities continue to grow it should provide a healthy pension benefit for our members..Good news for most of use...</p></blockquote><p></p>
[QUOTE="DELACROIX, post: 4744807, member: 49065"] Corporate would of found a loophole already if they get out of that 2007 withdraw agreement..done deal and one of the reasons they gutted their management pension plan, frees up roughly 5 billion in contributions annually. The UPS plan for mostly part timers will be on the table come 2023. I can see the company offered a matched 401k. The western’s peer 80 will still have part timers contributing monetary, very healthy returns currently. The IAM pension plan were paying out similar to the Peer 80 plan, but had to reduce their future retiree benefits. Simply not enough newer participants to cover the benefits promised for the older ones. I believe that the weekly contributions per full time members is bordering over 2,000 a month, if the stock market and investment annuities continue to grow it should provide a healthy pension benefit for our members..Good news for most of use... [/QUOTE]
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