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UPS Union Issues
Future of Unions?
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<blockquote data-quote="HBGPreloader" data-source="post: 1592923" data-attributes="member: 19782"><p>In addition to the payoff from the last contract, IMHO, moving the part timers into the central states fund was just another bailout that, ultimately, absolves UPS of any future liability.</p><p></p><p>The bigger issue, though, is the Pension Benefit Guarantee Corp's deficit...</p><p></p><p>"The Pension Benefit Guaranty Corp.'s deficit hit a record <strong>$61.7 billion</strong> in fiscal 2014, the agency said Monday. The deficit in the PBGC's insurance program for single-employer plans fell to <strong>$19.3 billion</strong>, down from <strong>$27.4 billion</strong> in fiscal 2013."</p><p></p><p><a href="http://www.businessinsurance.com/article/20141117/NEWS03/141119849/pbgc-deficit-hits-record-61-7b-in-2014?tags=|62|77|82|307|329" target="_blank">http://www.businessinsurance.com/article/20141117/NEWS03/141119849/pbgc-deficit-hits-record-61-7b-in-2014?tags=|62|77|82|307|329</a> </p><p></p><p>No matter what happens, it ends up being a no-win situation for the unions and their members because, if congress doesn't act, retiree benefits, likely, will be slashed - driving away future members. And, if congress does act, it will be viewed as another wasteful bailout that will result in an even bigger backlash from the Taxpayers.</p></blockquote><p></p>
[QUOTE="HBGPreloader, post: 1592923, member: 19782"] In addition to the payoff from the last contract, IMHO, moving the part timers into the central states fund was just another bailout that, ultimately, absolves UPS of any future liability. The bigger issue, though, is the Pension Benefit Guarantee Corp's deficit... "The Pension Benefit Guaranty Corp.'s deficit hit a record [B]$61.7 billion[/B] in fiscal 2014, the agency said Monday. The deficit in the PBGC's insurance program for single-employer plans fell to [B]$19.3 billion[/B], down from [B]$27.4 billion[/B] in fiscal 2013." [URL]http://www.businessinsurance.com/article/20141117/NEWS03/141119849/pbgc-deficit-hits-record-61-7b-in-2014?tags=|62|77|82|307|329[/URL] No matter what happens, it ends up being a no-win situation for the unions and their members because, if congress doesn't act, retiree benefits, likely, will be slashed - driving away future members. And, if congress does act, it will be viewed as another wasteful bailout that will result in an even bigger backlash from the Taxpayers. [/QUOTE]
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