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Is Central States pension fund ready to go under?
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<blockquote data-quote="JonFrum" data-source="post: 231833"><p><span style="color: blue">How do you figure? the fund is at least 12 and by your figures of 120 percent funding about 18 billion short of being adequately funded. UPS is rumored to pay 6 billion to get out of the fund. Whose coughing up the other 12 billion buckaroos. You really need to take a remedial math course and try to educate yourself. </span></p><p>UPS and almost all other Employers owe their pro rata portion of the Fund's Actuarial Unfunded Vested Liability. These Employers must pay their Withdrawal Liability if they, in fact, withdraw. Those that withdraw pay it; Those that don't withdraw, don't pay it. If every Employer paid it tomorrow, the Fund would be Fully Funded. Those that don't pay it still legally owe it. </p><p> </p><p><span style="color: blue">How do you figure. by your numbers the fund is 63 percent funded. Which means its 37 percent short of paying all the bills. If 120 percent funding is required then you need about 39 billion before the fund is adequately funded. That means by your numbers that there are approximately 18 billion dollars worth of liabilities not covered. The 21 billion in that fund is already committed to current liabilities. Are you planning on paying two bills with the same money? This is good the more I get you talking the weaker your explanation. Your master needs to feed you some better BS to sell here. </span></p><p></p><p>To pay 100% of the bills, you only need 100% of the Net Assets of a fully funded plan. My recomendation to overfund the Plan by 120% or more is a sign of prudence. The Fund would have extra money on hand. Should the stock market head south, the Fund would still be fully funded. My overfunding recomendation does not increase the Fund's liabilities as you seem to say. It's just extra money in the bank for a rainy day.</p><p></p><p>The $21 billion in the Asset Pool is available to pay all current expenses and many future expenses for some years to come. Remember, the Fund's Liabilities are an actuarial calculation. They include Liabilities that won't come due for one, two, three, or four decades from now. Only a portion are current (this year) bills that need to be paid right now.</p><p></p><p>Have you ever considered looking at the Fund's Form 5500, and reading an article on how pension plans work?</p></blockquote><p></p>
[QUOTE="JonFrum, post: 231833"] [COLOR=blue]How do you figure? the fund is at least 12 and by your figures of 120 percent funding about 18 billion short of being adequately funded. UPS is rumored to pay 6 billion to get out of the fund. Whose coughing up the other 12 billion buckaroos. You really need to take a remedial math course and try to educate yourself. [/COLOR] UPS and almost all other Employers owe their pro rata portion of the Fund's Actuarial Unfunded Vested Liability. These Employers must pay their Withdrawal Liability if they, in fact, withdraw. Those that withdraw pay it; Those that don't withdraw, don't pay it. If every Employer paid it tomorrow, the Fund would be Fully Funded. Those that don't pay it still legally owe it. [COLOR=blue]How do you figure. by your numbers the fund is 63 percent funded. Which means its 37 percent short of paying all the bills. If 120 percent funding is required then you need about 39 billion before the fund is adequately funded. That means by your numbers that there are approximately 18 billion dollars worth of liabilities not covered. The 21 billion in that fund is already committed to current liabilities. Are you planning on paying two bills with the same money? This is good the more I get you talking the weaker your explanation. Your master needs to feed you some better BS to sell here. [/COLOR] To pay 100% of the bills, you only need 100% of the Net Assets of a fully funded plan. My recomendation to overfund the Plan by 120% or more is a sign of prudence. The Fund would have extra money on hand. Should the stock market head south, the Fund would still be fully funded. My overfunding recomendation does not increase the Fund's liabilities as you seem to say. It's just extra money in the bank for a rainy day. The $21 billion in the Asset Pool is available to pay all current expenses and many future expenses for some years to come. Remember, the Fund's Liabilities are an actuarial calculation. They include Liabilities that won't come due for one, two, three, or four decades from now. Only a portion are current (this year) bills that need to be paid right now. Have you ever considered looking at the Fund's Form 5500, and reading an article on how pension plans work? [/QUOTE]
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