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UPS Union Issues
Cost Of Living Raise
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<blockquote data-quote="Inthegame" data-source="post: 4847329" data-attributes="member: 37112"><p>The Pension Benefit Guaranty Corporation (PBGC) operates solely from premiums collected from existing pension plans on a per member per month basis. No general taxpayer money goes to the PBGC currently. That will change soon.</p><p></p><p>PBGC assists failed plans and those plans then distribute benefits to their members.</p><p></p><p>Private plans and multi-employer plans are operated separately. Over 5000 private single employer plans have failed (23.5%) and are in distress and receiving aid, compared to 90 multi-employer plans (10.9%) at this time.</p><p></p><p>The PBGC is under directions to have preparations ready by July 2021to aid troubled pensions.</p><p></p><p>The PBGC is headed by Gordon Hartogensis, who was appointed after the Obama appointee was removed during his 5 year term of office.</p><p></p><p>Hartogensis had no prior experience or involvement with any pension plan prior to his appointment, but he is Mitch McConnell's brother in law.</p><p></p><p>And we wonder how anything positive ever gets done?</p></blockquote><p></p>
[QUOTE="Inthegame, post: 4847329, member: 37112"] The Pension Benefit Guaranty Corporation (PBGC) operates solely from premiums collected from existing pension plans on a per member per month basis. No general taxpayer money goes to the PBGC currently. That will change soon. PBGC assists failed plans and those plans then distribute benefits to their members. Private plans and multi-employer plans are operated separately. Over 5000 private single employer plans have failed (23.5%) and are in distress and receiving aid, compared to 90 multi-employer plans (10.9%) at this time. The PBGC is under directions to have preparations ready by July 2021to aid troubled pensions. The PBGC is headed by Gordon Hartogensis, who was appointed after the Obama appointee was removed during his 5 year term of office. Hartogensis had no prior experience or involvement with any pension plan prior to his appointment, but he is Mitch McConnell's brother in law. And we wonder how anything positive ever gets done? [/QUOTE]
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