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Brown Cafe UPS Forum
UPS Retirement Topics
Dreaded Pension Funding Level Letter
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<blockquote data-quote="TechGrrl" data-source="post: 734010" data-attributes="member: 4932"><p>The negotiations came in the 2003 contract. Calculating the amount was more or less determined, but my understanding was that UPS could not have withdrawn from Central States without Teamster Agreement. This was one of the main sticking points in the 1997 strike: UPS proposed the deal back then, but Ron Carey and the leadership of the union wouldn't agree to it. UPS could not unilaterally withdraw from Central States, no matter how much they paid.</p><p></p><p>And I understand exactly how money managers are supposed to manage pension funds. It didn't seem apparent that you did. Go back to my statement about how multi-employer pension funds made sense in a regulated world, and lost viability in the 80's. The history of the misuse of the Central States funds are well documented. It wasn't just bad luck in the market.</p></blockquote><p></p>
[QUOTE="TechGrrl, post: 734010, member: 4932"] The negotiations came in the 2003 contract. Calculating the amount was more or less determined, but my understanding was that UPS could not have withdrawn from Central States without Teamster Agreement. This was one of the main sticking points in the 1997 strike: UPS proposed the deal back then, but Ron Carey and the leadership of the union wouldn't agree to it. UPS could not unilaterally withdraw from Central States, no matter how much they paid. And I understand exactly how money managers are supposed to manage pension funds. It didn't seem apparent that you did. Go back to my statement about how multi-employer pension funds made sense in a regulated world, and lost viability in the 80's. The history of the misuse of the Central States funds are well documented. It wasn't just bad luck in the market. [/QUOTE]
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