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Brown Cafe UPS Forum
UPS Retirement Topics
CS pension language cleared up
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<blockquote data-quote="my2cents" data-source="post: 256030" data-attributes="member: 1287"><p>In addition, if Central States were to go under and pay a reduced benefit, the UPS plan would step in and make up the difference. I would think this would be a better deal than if the PBGC were to take over Central States. In effect, the UPS plan is playing the role of the PBGC under this offset arrangement. This is my interpretation of it after listening closely to the video. </p><p></p><p>I don't believe anyone will see all the details of this plan in the collective bargaining agreement. The inner workings of these plans are documented in the Summary Plan Description or Rules and Regulations guide. There will also be an associated trust agreement, which is similar to what bylaws are. If this tentative agreement is ratified, I'm sure these documents will be made available to participants.</p></blockquote><p></p>
[QUOTE="my2cents, post: 256030, member: 1287"] In addition, if Central States were to go under and pay a reduced benefit, the UPS plan would step in and make up the difference. I would think this would be a better deal than if the PBGC were to take over Central States. In effect, the UPS plan is playing the role of the PBGC under this offset arrangement. This is my interpretation of it after listening closely to the video. I don't believe anyone will see all the details of this plan in the collective bargaining agreement. The inner workings of these plans are documented in the Summary Plan Description or Rules and Regulations guide. There will also be an associated trust agreement, which is similar to what bylaws are. If this tentative agreement is ratified, I'm sure these documents will be made available to participants. [/QUOTE]
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CS pension language cleared up
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