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Brown Cafe UPS Forum
UPS Retirement Topics
Is Central States pension fund ready to go under?
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<blockquote data-quote="JonFrum" data-source="post: 230660"><p><span style="color: blue">I believe one of the other posters here made the point that CS was 49 percent funded using the 20 billion dollar figure for 2006. Something you seem reluctant to dispute. If the fund went from 45 to 49 percent then getting better is nothing to crow about. .</span></p><p></p><p>Actually, I've disputed the 49% funding level several times. The actual funding level was up to 63% in 2006 and is probably higher now. We'll just have to wait until some official source posts the latest figure. Some people just won't believe it if it comes from me.</p><p></p><p><span style="color: blue">45 million on a plan that has 21 billion in assets and is theoretically 49 percent funded would be a pittance my friend.</span></p><p></p><p>It's not $45 million out of $21 billion, it's $45 million (plus whatever additional recovery is made as the cases continue) out of only $318.7 million. Not a bad day's work at Bankruptcy Court. And nowhere near 60% of UPS' total contributions.</p></blockquote><p></p>
[QUOTE="JonFrum, post: 230660"] [COLOR=blue]I believe one of the other posters here made the point that CS was 49 percent funded using the 20 billion dollar figure for 2006. Something you seem reluctant to dispute. If the fund went from 45 to 49 percent then getting better is nothing to crow about. .[/COLOR] Actually, I've disputed the 49% funding level several times. The actual funding level was up to 63% in 2006 and is probably higher now. We'll just have to wait until some official source posts the latest figure. Some people just won't believe it if it comes from me. [COLOR=blue]45 million on a plan that has 21 billion in assets and is theoretically 49 percent funded would be a pittance my friend.[/COLOR] It's not $45 million out of $21 billion, it's $45 million (plus whatever additional recovery is made as the cases continue) out of only $318.7 million. Not a bad day's work at Bankruptcy Court. And nowhere near 60% of UPS' total contributions. [/QUOTE]
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Is Central States pension fund ready to go under?
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