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Brown Cafe UPS Forum
UPS Union Issues
Central states-what happens when???
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<blockquote data-quote="oldngray" data-source="post: 1469940" data-attributes="member: 45230"><p>UPS promised to make up any shortages until you turn 65 but if this bill passes it would be a small next step to allow them to break a contractual promise if the law allowed it. After 65 you (or me at least) would be at the mercy of Central States and PBGC. The PBGC guarantee for muti-employer funds is only something like $1100-1200 per month. PBGC does pay a lot more for single payer funds (about 3 times as much but I'm not sure of the exact number) but Central States is a multi-payer plan. That is how bad it would be now before retirees get screwed even worse from that bill.</p></blockquote><p></p>
[QUOTE="oldngray, post: 1469940, member: 45230"] UPS promised to make up any shortages until you turn 65 but if this bill passes it would be a small next step to allow them to break a contractual promise if the law allowed it. After 65 you (or me at least) would be at the mercy of Central States and PBGC. The PBGC guarantee for muti-employer funds is only something like $1100-1200 per month. PBGC does pay a lot more for single payer funds (about 3 times as much but I'm not sure of the exact number) but Central States is a multi-payer plan. That is how bad it would be now before retirees get screwed even worse from that bill. [/QUOTE]
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