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Brown Cafe UPS Forum
UPS Retirement Topics
Fully or Fooly Funded New (old CS) Plan?
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<blockquote data-quote="homer123" data-source="post: 248735" data-attributes="member: 11818"><p>I'm a retiree as of June 2006. 29years at age 57. I was a steward for about half that time. Prior to 10-01 I'm wondering if anyone ever heard mention of the $6+ billion buy-out by UPS as a pre-tax amount. What is this tax? That leaves CSPF w/ $3.9 billion to "shore-up" the underfunded plan. To me, it seems as though UPS will basically be getting an interest free loan of YOUR money to begin a systematic dismantling of the union. The CSPF is the weakest, and therefore, the most logical to begin with. Others will surely follow. Without the income from UPS can the CS maintain its obligations? I was one of many that took a hit after the restructure in 2004. Will they feel the need to restructure again to maintain? I can only speak for myself, but I now feel as thought I'm in a boat without a rudder. Thanks for letting me vent!</p></blockquote><p></p>
[QUOTE="homer123, post: 248735, member: 11818"] I'm a retiree as of June 2006. 29years at age 57. I was a steward for about half that time. Prior to 10-01 I'm wondering if anyone ever heard mention of the $6+ billion buy-out by UPS as a pre-tax amount. What is this tax? That leaves CSPF w/ $3.9 billion to "shore-up" the underfunded plan. To me, it seems as though UPS will basically be getting an interest free loan of YOUR money to begin a systematic dismantling of the union. The CSPF is the weakest, and therefore, the most logical to begin with. Others will surely follow. Without the income from UPS can the CS maintain its obligations? I was one of many that took a hit after the restructure in 2004. Will they feel the need to restructure again to maintain? I can only speak for myself, but I now feel as thought I'm in a boat without a rudder. Thanks for letting me vent! [/QUOTE]
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Fully or Fooly Funded New (old CS) Plan?
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