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I A M penison out of money
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<blockquote data-quote="zubenelgenubi" data-source="post: 4265041" data-attributes="member: 63706"><p>This was what I was responding to.</p><p></p><p></p><p></p><p>The company could not "shut down" the pension with impunity. They could potentially stop paying into it, but that is governed by their contract with the Teamsters and by the ERISA. I'm not saying that it can't happen, I am saying the company couldn't just shut down the pension tomorrow. They would have to demonstrate a pretty severe need to stop paying into the pension just to get the Teamsters to talk about it before the next contract negotiations.</p><p></p><p>If UPS brought up switching to individual retirement accounts as a point of negotiations for the next contract, and if the union were to go for it, they shouldn't let the company pay into our individual accounts less than they pay into the pension.</p></blockquote><p></p>
[QUOTE="zubenelgenubi, post: 4265041, member: 63706"] This was what I was responding to. The company could not "shut down" the pension with impunity. They could potentially stop paying into it, but that is governed by their contract with the Teamsters and by the ERISA. I'm not saying that it can't happen, I am saying the company couldn't just shut down the pension tomorrow. They would have to demonstrate a pretty severe need to stop paying into the pension just to get the Teamsters to talk about it before the next contract negotiations. If UPS brought up switching to individual retirement accounts as a point of negotiations for the next contract, and if the union were to go for it, they shouldn't let the company pay into our individual accounts less than they pay into the pension. [/QUOTE]
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