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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: 248814" data-attributes="member: 11818"><p>I very much agree that there are others in the multi-employer pension fund that need to help. UPS has just shown them an avenue out. The $6.1B was based on UPS being the largest contributor. A long-time complaint by UPS (understandably) was it felt it was funding pensions of non-UPS retirees. That was the basis of the 1997 strike. Their song was "UPS dollars for UPS people." IBT's response was to strike. I recall signs on picket lines reading "United Pension Stealers." That was an attempt to move everyone into company plans at once. Now it will be divide & conquer by doing one at a time. In 1977 my local was in the Western States PF. Through some questionable maneuvering we ended up in CSPF. Some recall a "vote" but also recall strong endorsements from IBT. I was new & had no idea of what was transpiring. 20/20 hindsight.</p></blockquote><p></p>
[QUOTE="homer123, post: 248814, member: 11818"] I very much agree that there are others in the multi-employer pension fund that need to help. UPS has just shown them an avenue out. The $6.1B was based on UPS being the largest contributor. A long-time complaint by UPS (understandably) was it felt it was funding pensions of non-UPS retirees. That was the basis of the 1997 strike. Their song was "UPS dollars for UPS people." IBT's response was to strike. I recall signs on picket lines reading "United Pension Stealers." That was an attempt to move everyone into company plans at once. Now it will be divide & conquer by doing one at a time. In 1977 my local was in the Western States PF. Through some questionable maneuvering we ended up in CSPF. Some recall a "vote" but also recall strong endorsements from IBT. I was new & had no idea of what was transpiring. 20/20 hindsight. [/QUOTE]
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