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Brown Cafe UPS Forum
UPS Union Issues
Central states-what happens when???
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<blockquote data-quote="Mugarolla" data-source="post: 1611670" data-attributes="member: 8481"><p>I didn't say that UPS pays the offset. I said that UPS offsets the amount that CS pays once you turn 65.</p><p></p><p>UPS pays you your $3000/MO until you turn 65. UPS then offsets the amount that CS pays you. </p><p></p><p>In other words, UPS deducts from their check what CS pays.</p><p></p><p>If CS reduces your pension by law, this reduction shall not be included in the offset. UPS cannot offset that $1000 reduction from CS.</p><p></p><p>They are on the hook for your full $3000/mo minus what CS pays.</p><p></p><p>If CS pays $2000, UPS pays $1000</p><p></p><p>If CS only pays $1000 due to a reduction, UPS pays $2000.</p><p></p><p>If you have read all the articles bashing UPS and read their response, they are admitting that they are guaranteeing any reduction in CS pension payments.</p><p></p><p>The million dollar question that I do not have the answer for is this guarantee only for people who retire, or who have retired, since 2008?</p><p></p><p>I cannot get an answer.</p><p></p><p>And this clause needs to stay in the contract or UPS will not have to make up any reduction.</p></blockquote><p></p>
[QUOTE="Mugarolla, post: 1611670, member: 8481"] I didn't say that UPS pays the offset. I said that UPS offsets the amount that CS pays once you turn 65. UPS pays you your $3000/MO until you turn 65. UPS then offsets the amount that CS pays you. In other words, UPS deducts from their check what CS pays. If CS reduces your pension by law, this reduction shall not be included in the offset. UPS cannot offset that $1000 reduction from CS. They are on the hook for your full $3000/mo minus what CS pays. If CS pays $2000, UPS pays $1000 If CS only pays $1000 due to a reduction, UPS pays $2000. If you have read all the articles bashing UPS and read their response, they are admitting that they are guaranteeing any reduction in CS pension payments. The million dollar question that I do not have the answer for is this guarantee only for people who retire, or who have retired, since 2008? I cannot get an answer. And this clause needs to stay in the contract or UPS will not have to make up any reduction. [/QUOTE]
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