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<blockquote data-quote="Bill" data-source="post: 227779" data-attributes="member: 5483"><p>Multi-employer plans simply don&#039;t work.&nbsp; Every time a company goes under, the other companies have to absorb the liabilities of the defunct company.&nbsp; When enough companies go out of business, such as the case in CS, the few remaining companies have to shoulder&nbsp; more of the burden than they can handle, and this puts a strain on the remaining companies.&nbsp; Eventually, the pension fund becomes a major liability, and becomes severly underfunded.&nbsp; AS more employees retire, the problem becomes exacerbated, and it gets to a point of no return, as Central States pension fund is now in.&nbsp; More money is needed to keep a fund afloat, but unless the companies dump a truckload extra money in, the fund can&#039;t right itself.&nbsp; UPS just added $28 per week per employee into the fund on August 1, 2007, but its employees don&#039;t receive a penny of this new money.&nbsp; This has occurred the past 3 years when UPS has added $24,$24, $24 and another $28 for a total of&nbsp; $100 each week and we receive absolutely nothing toward our pension.&nbsp; Does this make sense from the company&#039;s or the employee&#039;s point of view?&nbsp;&nbsp; A change needs to be made, and that is why we need a union (APWA) that represents only UPS people and a single pension plan, so that we can receive an adequate retirement pension when the time comes.&nbsp; What don&#039;t you get about that?</p></blockquote><p></p>

[QUOTE="Bill, post: 227779, member: 5483"] Multi-employer plans simply don't work. Every time a company goes under, the other companies have to absorb the liabilities of the defunct company. When enough companies go out of business, such as the case in CS, the few remaining companies have to shoulder more of the burden than they can handle, and this puts a strain on the remaining companies. Eventually, the pension fund becomes a major liability, and becomes severly underfunded. AS more employees retire, the problem becomes exacerbated, and it gets to a point of no return, as Central States pension fund is now in. More money is needed to keep a fund afloat, but unless the companies dump a truckload extra money in, the fund can't right itself. UPS just added $28 per week per employee into the fund on August 1, 2007, but its employees don't receive a penny of this new money. This has occurred the past 3 years when UPS has added $24,$24, $24 and another $28 for a total of $100 each week and we receive absolutely nothing toward our pension. Does this make sense from the company's or the employee's point of view? A change needs to be made, and that is why we need a union (APWA) that represents only UPS people and a single pension plan, so that we can receive an adequate retirement pension when the time comes. What don't you get about that? [/QUOTE]

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