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UPS Union Issues
Central States going broke---
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<blockquote data-quote="DELACROIX" data-source="post: 4779330" data-attributes="member: 49065"><p>A couple of wrongs about your statements. </p><p></p><p>A. You do not lose your credited pension benefits even if move to another employer. Those earned vested time will stay till you reach the mandatory retirement age of 65 or 70 1/2. You just do not earn any further increases when you leave a plan.</p><p></p><p>B. Minimizing relationships between employers and employees sounds like legally or illegally manipulating these pension plans for the benefit of the employer. Read ERISA .. people can go to jail if the proper people are willing to prosecute.</p><p>I believe that ever pension and health and welfare are tax exempt, it was a good way for corporations to cut their tax liabilities at the end of the year till recently.</p><p></p><p>C. Your claim of us Union folk not involved in a 401 k plan is ridiculous, you need to get around more. Most of us long term Union employees do have one even if it is not matched like yours. The loyalty statement is confusing, As a long time Union member I own loyalty to the men and women I work with not to the Union Corporate Bosses who throw their members under the bus to protect their personal interests. The members sometimes needs to remember that WE are paying their salaries and that they work for us..</p><p></p><p>D. Corporate America would love to throw their Health and Welfare and Pension liabilities costs on the federal government. Maintaining benefits plans hurt their bottom lines and cuts their profits. Unfortunately with the election results and this pandemic we probably will be looking at a welfare state benefiting the poor over the not so poor. So one half the country will be supporting the other half with increasing deficits, the Pandora Box has been open and the entitlement beast has been set free.</p></blockquote><p></p>
[QUOTE="DELACROIX, post: 4779330, member: 49065"] A couple of wrongs about your statements. A. You do not lose your credited pension benefits even if move to another employer. Those earned vested time will stay till you reach the mandatory retirement age of 65 or 70 1/2. You just do not earn any further increases when you leave a plan. B. Minimizing relationships between employers and employees sounds like legally or illegally manipulating these pension plans for the benefit of the employer. Read ERISA .. people can go to jail if the proper people are willing to prosecute. I believe that ever pension and health and welfare are tax exempt, it was a good way for corporations to cut their tax liabilities at the end of the year till recently. C. Your claim of us Union folk not involved in a 401 k plan is ridiculous, you need to get around more. Most of us long term Union employees do have one even if it is not matched like yours. The loyalty statement is confusing, As a long time Union member I own loyalty to the men and women I work with not to the Union Corporate Bosses who throw their members under the bus to protect their personal interests. The members sometimes needs to remember that WE are paying their salaries and that they work for us.. D. Corporate America would love to throw their Health and Welfare and Pension liabilities costs on the federal government. Maintaining benefits plans hurt their bottom lines and cuts their profits. Unfortunately with the election results and this pandemic we probably will be looking at a welfare state benefiting the poor over the not so poor. So one half the country will be supporting the other half with increasing deficits, the Pandora Box has been open and the entitlement beast has been set free. [/QUOTE]
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