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UPS Retirement Topics
Is Central States pension fund ready to go under?
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<blockquote data-quote="Bill" data-source="post: 227893" data-attributes="member: 5483"><p><strong>Are you getting tired of sacrificing your pension money?</strong></p><p></p><p>On August 1, 2007, UPS contributed an EXTRA $28 per week per employee into your pension fund. Do you know how much you received? The answer is nothing. Thats right. Zero, nil, nada. In 2006, an additional $24 was added. Another $24 was added in 2005 and another $24 in 2004. Again, you received nothing. UPS has increased our pension by $100 over the last four years, and is now putting $238 per employee per week into our pension fund, but instead of increasing our pensions, we are taking reductions. Where is our money going? It is going to employees of other companies that are in the multi-employer pension fund in CS. We receive only 40% of the total money that UPS contributes. As long as we are burdened with CS, we can not receive an increase because of the RED ZONE amendment signed into law until the pension fund is fully funded (never will be for many reasons), but we can and probably will receive additional cuts even though UPS continues to spend billions on our pension fund. You can be content, do nothing, and let the Teamsters negotiate another "best ever contract", or you can say enough is enough and vote the Teamsters out. They have had many years to work for us, but they no longer have our best interests in mind when it comes contract time. It is time for a change. The choice is yours. Receive 40% (Teamsters) or 100% (APWA) of UPS benefits.</p></blockquote><p></p>
[QUOTE="Bill, post: 227893, member: 5483"] [B]Are you getting tired of sacrificing your pension money?[/B] On August 1, 2007, UPS contributed an EXTRA $28 per week per employee into your pension fund. Do you know how much you received? The answer is nothing. Thats right. Zero, nil, nada. In 2006, an additional $24 was added. Another $24 was added in 2005 and another $24 in 2004. Again, you received nothing. UPS has increased our pension by $100 over the last four years, and is now putting $238 per employee per week into our pension fund, but instead of increasing our pensions, we are taking reductions. Where is our money going? It is going to employees of other companies that are in the multi-employer pension fund in CS. We receive only 40% of the total money that UPS contributes. As long as we are burdened with CS, we can not receive an increase because of the RED ZONE amendment signed into law until the pension fund is fully funded (never will be for many reasons), but we can and probably will receive additional cuts even though UPS continues to spend billions on our pension fund. You can be content, do nothing, and let the Teamsters negotiate another "best ever contract", or you can say enough is enough and vote the Teamsters out. They have had many years to work for us, but they no longer have our best interests in mind when it comes contract time. It is time for a change. The choice is yours. Receive 40% (Teamsters) or 100% (APWA) of UPS benefits. [/QUOTE]
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Is Central States pension fund ready to go under?
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