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<blockquote data-quote="JonFrum" data-source="post: 228265">Excellent Jon. So if UPS goes belly up today then our retirees drawing from CS would be able to continue collecting their checks with no loss of beni&#039;s or reduction thereof?&nbsp;Correct. That&#039;s what the $21 billion in fund assets is for. That&#039;s what all that ERISA fine print is all about. Although I don&#039;t think UPS will be going belly-up today, so relax, unbunch. Assuming the company goes belly up rich in assets? Assuming those assets are not sold at auction at a fraction of their value? Not much hope there. &nbsp;In Bankruptcy Court the Fund would recover whatever it could. I never said it would recover everything. My point was that every dollar counts, and the surviving Contributing Employers only have to pick-up what the bankrupt company owed but did not ultimately pay.My god don&#039;t tell me you are comparing the financial health of UPS to that of CS?&nbsp;Of course not. You&#039;re just deliberately twisting my words as you usually do so you can appear to be shocked at my stupidity/arrogance/audacity/duplicity/criminality/cunning/etc (circle one) so you can react in seeming disbelief. What else is new? My point was that all businesses and individuals and funds get stuck &quot;holding the bag&quot; when someone declares bankruptcy while owing them money.&nbsp; It&#039;s a normal part of business.&nbsp; I&#039;m not defending the Bankruptcy laws, just stating that they apply, like it or not, and by definition, the survivors pick up the slack.</blockquote>

[QUOTE="JonFrum, post: 228265"] [COLOR=blue]Excellent Jon. So if UPS goes belly up today then our retirees drawing from CS would be able to continue collecting their checks with no loss of beni's or reduction thereof?[/COLOR] Correct. That's what the $21 billion in fund assets is for. That's what all that ERISA fine print is all about. Although I don't think UPS will be going belly-up today, so relax, unbunch. [COLOR=blue]Assuming the company goes belly up rich in assets? Assuming those assets are not sold at auction at a fraction of their value? Not much hope there. [/COLOR] In Bankruptcy Court the Fund would recover whatever it could. I never said it would recover everything. My point was that every dollar counts, and the surviving Contributing Employers only have to pick-up what the bankrupt company owed but did not ultimately pay. [COLOR=blue]My god don't tell me you are comparing the financial health of UPS to that of CS?[/COLOR] Of course not. You're just deliberately twisting my words as you usually do so you can appear to be shocked at my stupidity/arrogance/audacity/duplicity/criminality/cunning/etc (circle one) so you can react in seeming disbelief. What else is new? My point was that all businesses and individuals and funds get stuck "holding the bag" when someone declares bankruptcy while owing them money. It's a normal part of business. I'm not defending the Bankruptcy laws, just stating that they apply, like it or not, and by definition, the survivors pick up the slack. [/QUOTE]

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