thats the popular central states pension conspiracy theory being mused about. I don't personally think UPS can legally circumvent their pension obligations by doing so but I guess we'll find out.
thats the popular central states pension conspiracy theory being mused about. I don't personally think UPS can legally circumvent their pension obligations by doing so but I guess we'll find out.
Hey Tie, Sat hit it on the head. It has to be negotiated in the next contract the difference from what CS pays and if UPS will make up the rest. Something that was not disclosed during the last contract.
No theory involved, just fact.
UPS has met every legal obligation to Central States.
Central States sent a letter out over a year ago, to those covered under the CS pension plan.
Basically, it said that by 2012 that the fund will be broke and taken over by the federal authorities.
UPS's liabilities and responsibilities only apply to the years after 2007, in the new pension program.
Contractually UPS has to make good Central States pension promises, until the 2013 contract.
2013 will be when we find out.
Heck, the world is suppose to end in 2012, so why worry.
No theory involved, just fact.
UPS has met every legal obligation to Central States.
Central States sent a letter out over a year ago, to those covered under the CS pension plan.
Basically, it said that by 2012 that the fund will be broke and taken over by the federal authorities.
UPS's liabilities and responsibilities only apply to the years after 2007, in the new pension program.
Contractually UPS has to make good Central States pension promises, until the 2013 contract.
2013 will be when we find out.
Heck, the world is suppose to end in 2012, so why worry.
Hey Tie, Sat hit it on the head. It has to be negotiated in the next contract the difference from what CS pays and if UPS will make up the rest. Something that was not disclosed during the last contract.
At least 2 or 3 thousand.Do we have any pension experts out there?
I'm surprised our resident know-it all hasn't chimed in on this.
seems to me you were the one whining on another thread about people posting on topics they don't know anything about. Could you post a copy of your doctorate on pension plans for us to see?
I am not a pension expert.The UPS retirees in the Central States Fund during the UPS withdrawal should of received the same pension guarantees as the ones in the New Pension Plan. Something about this deal does not seem right. Do we have any pension experts out there?
Yet you continued to post nonsense and refused to attempt to provide facts for your argument. Here is the link to the contract, look at article 34, read it slowly!
Im sure even you can understand and admit that since UPS spent 6.1 billion to buyout of the CS plan it no longer has any liabilites to that plan or its particpants.