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Brown Cafe UPS Forum
UPS Union Issues
Exposing the Local 25 supplement
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<blockquote data-quote="Hofficer Hater" data-source="post: 3683143" data-attributes="member: 59935"><p>The accrual rate on solvent pensions normally run between 1.2% and 1.8% depending on how good the market is doing. The accrual rates on pension funds that have gone belly up like the Central States, New England Pension Fund, Western Penn etc set a dollar amount disregarding the amount of hours worked by a member. And that is one reason all these funds failed. </p><p></p><p>In all the failing funds like the ones mentioned above they have given a member who worked 500 hours the same amount as someone who worked 2080 hours. Such practice has led and will continue to lead to the collapse of more pension funds. Making $6.20 an hour and drawing $6K is a recipe for disaster that wont last and will be forced to rectify before you know it.</p></blockquote><p></p>
[QUOTE="Hofficer Hater, post: 3683143, member: 59935"] The accrual rate on solvent pensions normally run between 1.2% and 1.8% depending on how good the market is doing. The accrual rates on pension funds that have gone belly up like the Central States, New England Pension Fund, Western Penn etc set a dollar amount disregarding the amount of hours worked by a member. And that is one reason all these funds failed. In all the failing funds like the ones mentioned above they have given a member who worked 500 hours the same amount as someone who worked 2080 hours. Such practice has led and will continue to lead to the collapse of more pension funds. Making $6.20 an hour and drawing $6K is a recipe for disaster that wont last and will be forced to rectify before you know it. [/QUOTE]
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