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Interesting Timing, think on this one!
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<blockquote data-quote="DELACROIX" data-source="post: 3723300" data-attributes="member: 49065"><p>It is only a matter of time before insolvency, all timelines point to 2023 or 2025 unless a miracle occurs. It that happens UPS will have to cover the offsets, they know that. Maybe their plan is to prolong the Central from going bankrupt just enough to get that 15 years in, most of the old retirees would of passed and the newer ones will have a majority of their vested time under the IBT/UPS Pension. You are talking about over 25 years from the original buy out in 2008, every year that passes UPS is lessening their liability costs, the stock market is continuing upward and their reduced pension liability projections are making the shareholders jumping for joy. </p><p></p><p>I believe that the Federal Pension Insurance (if it has the money) would pay a 1,000 a month flat rate per retiree if the Central folds. Most of the retirees who retired just before 2008 were getting close to 3,000. Big cut...</p></blockquote><p></p>
[QUOTE="DELACROIX, post: 3723300, member: 49065"] It is only a matter of time before insolvency, all timelines point to 2023 or 2025 unless a miracle occurs. It that happens UPS will have to cover the offsets, they know that. Maybe their plan is to prolong the Central from going bankrupt just enough to get that 15 years in, most of the old retirees would of passed and the newer ones will have a majority of their vested time under the IBT/UPS Pension. You are talking about over 25 years from the original buy out in 2008, every year that passes UPS is lessening their liability costs, the stock market is continuing upward and their reduced pension liability projections are making the shareholders jumping for joy. I believe that the Federal Pension Insurance (if it has the money) would pay a 1,000 a month flat rate per retiree if the Central folds. Most of the retirees who retired just before 2008 were getting close to 3,000. Big cut... [/QUOTE]
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Interesting Timing, think on this one!
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