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Brown Cafe UPS Forum
UPS Union Issues
Central States pension plan will drag every other pension fund down
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<blockquote data-quote="badpas" data-source="post: 191962" data-attributes="member: 8876"><p>Now tell me if this is wrong but after talking to a ups coorporate official, he told me that the total amount invested per person is paid to the teamsters but there is no law or penalty that says 100% has to be invested or there will be consequences for such actions. He also said that UPS has a seperate amount with the teamsters that covers the other companies for what ever reason. So my question is if this is true we are not only seeing 40% of our pension dollars invested but an additional amount of who knows what goes to CS in someone elses name and purpose. Hopefully someone can shed some serious truthful info to this because I will be looking into it, and if this is true then we are all idiots for not running to either our union halls and demanding more information or the apwa has the smoking weapon they need to slam the door on the teamsters once and for all. Because techniqually, if this is true, we are actually seeing less than 40% and the middle man is getting it square in the pocket book. Now I find this hard to believe knowing how tight UPS is but this person, who's name shall stay anonamus, is in the position to know and says it is because of the multi-employer pension fund and its rules. Now lets think about that and hope its not true because like I said I will find out Eventually...</p></blockquote><p></p>
[QUOTE="badpas, post: 191962, member: 8876"] Now tell me if this is wrong but after talking to a ups coorporate official, he told me that the total amount invested per person is paid to the teamsters but there is no law or penalty that says 100% has to be invested or there will be consequences for such actions. He also said that UPS has a seperate amount with the teamsters that covers the other companies for what ever reason. So my question is if this is true we are not only seeing 40% of our pension dollars invested but an additional amount of who knows what goes to CS in someone elses name and purpose. Hopefully someone can shed some serious truthful info to this because I will be looking into it, and if this is true then we are all idiots for not running to either our union halls and demanding more information or the apwa has the smoking weapon they need to slam the door on the teamsters once and for all. Because techniqually, if this is true, we are actually seeing less than 40% and the middle man is getting it square in the pocket book. Now I find this hard to believe knowing how tight UPS is but this person, who's name shall stay anonamus, is in the position to know and says it is because of the multi-employer pension fund and its rules. Now lets think about that and hope its not true because like I said I will find out Eventually... [/QUOTE]
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Central States pension plan will drag every other pension fund down
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