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UPS Retirement Topics
Has IBT/CS been a wise steward of our pension?
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<blockquote data-quote="sawman" data-source="post: 52904"><p>While there are a few small pockets of employees that still enjoy a decent pension, CS is only the largest fund that is in trouble. Thus, it would be a nation wide freeze on raises not just CS. I now some are going to say that they wouldn't vote for this because there pensions are still good, but the fact of the matter is that the majority of the employees pensions nation wide are in trouble and while no one wants a raise freeze it may be the only way to save the majorities pensions, and for those few that are not in trouble, I'm sorry but the majority will rule in order for all to enjoy a good retirement. </p><p> </p><p>Now, as far as the people that are already retired or have less than 10 years to go. The deal with the buy out would protect all of our pensions. </p><p>In order for us to agree to the raise freeze, the company would have to agree to buy the multi-employer funds out and roll the money into our new plan along with our years of service. So, someone with 29 years in CS would have there pension and years of service rolled into the new plan and would get full credit in the new plan. The company would be more than glad to do this because it would get them out of the multi-employer fund, which is what they want the most.</p></blockquote><p></p>
[QUOTE="sawman, post: 52904"] While there are a few small pockets of employees that still enjoy a decent pension, CS is only the largest fund that is in trouble. Thus, it would be a nation wide freeze on raises not just CS. I now some are going to say that they wouldn't vote for this because there pensions are still good, but the fact of the matter is that the majority of the employees pensions nation wide are in trouble and while no one wants a raise freeze it may be the only way to save the majorities pensions, and for those few that are not in trouble, I'm sorry but the majority will rule in order for all to enjoy a good retirement. Now, as far as the people that are already retired or have less than 10 years to go. The deal with the buy out would protect all of our pensions. In order for us to agree to the raise freeze, the company would have to agree to buy the multi-employer funds out and roll the money into our new plan along with our years of service. So, someone with 29 years in CS would have there pension and years of service rolled into the new plan and would get full credit in the new plan. The company would be more than glad to do this because it would get them out of the multi-employer fund, which is what they want the most. [/QUOTE]
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Has IBT/CS been a wise steward of our pension?
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