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UPS Union Issues
Dues and Don'ts
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<blockquote data-quote="UpstateNYUPSer(Ret)" data-source="post: 2347028" data-attributes="member: 12570"><p>Our local union officials have zero control over the pension, as it should be.</p><p></p><p>UPS has done their part.</p><p></p><p>Our fund was 107% funded in the late 70's/early 80's and they approved a pension increase rather than sending a check to Uncle Sam for the surplus amount, as it was illegal, at that time, to be more than 100% funded.</p><p></p><p>No one could have forecasted the economic downturn which wiped 30% of our assets away.</p><p></p><p>Yes, if the pension folks had made the tough decisions earlier, we wouldn't be having this discussion now.</p><p></p><p>20% beats the hell out of 33% or 50%.</p></blockquote><p></p>
[QUOTE="UpstateNYUPSer(Ret), post: 2347028, member: 12570"] Our local union officials have zero control over the pension, as it should be. UPS has done their part. Our fund was 107% funded in the late 70's/early 80's and they approved a pension increase rather than sending a check to Uncle Sam for the surplus amount, as it was illegal, at that time, to be more than 100% funded. No one could have forecasted the economic downturn which wiped 30% of our assets away. Yes, if the pension folks had made the tough decisions earlier, we wouldn't be having this discussion now. 20% beats the hell out of 33% or 50%. [/QUOTE]
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