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Central states pensioners, please read!
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<blockquote data-quote="JonFrum" data-source="post: 517771" data-attributes="member: 18044"><p>As a practical matter, UPS' main connection to the Teamster sponsored multi-employer plans is to negotiate the level of contributions, and then make those contributions. Nevertheless, they are not DEFINED CONTRIBUTION plans. </p><p> </p><p>The terms "Defined Benefit" and "Defined Contribution" are <u>legal terms</u> and each category has a different set of legal rules that the plans in its category must obey.</p></blockquote><p></p>
[QUOTE="JonFrum, post: 517771, member: 18044"] As a practical matter, UPS' main connection to the Teamster sponsored multi-employer plans is to negotiate the level of contributions, and then make those contributions. Nevertheless, they are not DEFINED CONTRIBUTION plans. The terms "Defined Benefit" and "Defined Contribution" are [U]legal terms[/U] and each category has a different set of legal rules that the plans in its category must obey. [/QUOTE]
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