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UPS Retirement Topics
Is Central States pension fund ready to go under?
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<blockquote data-quote="JonFrum" data-source="post: 235452"><p>The funds are managed by the "Named Fiduciaries," Goldman Sachs Asset Management and Northern Trust Global Advisors, under Court Order, not the Trustees.</p><p></p><p></p><p>What provisions? The Fund is legally seperate from the IBT.</p><p></p><p></p><p>All five Management Trustees represent UPS, even if only one is actually a UPS executive. All five Union Trustees represent the Teamsters.</p><p></p><p></p><p>The allocation of contributions between the Pension Fund and the H&W Fund is done in the collective bargaining process by the Teamsters Negotiating Committee and the Company Negotiating Committee, not "Teamsters management."</p><p></p><p>That Raymond James report is filled with errors. The above is one paragraph's worth.</p></blockquote><p></p>
[QUOTE="JonFrum, post: 235452"] The funds are managed by the "Named Fiduciaries," Goldman Sachs Asset Management and Northern Trust Global Advisors, under Court Order, not the Trustees. What provisions? The Fund is legally seperate from the IBT. All five Management Trustees represent UPS, even if only one is actually a UPS executive. All five Union Trustees represent the Teamsters. The allocation of contributions between the Pension Fund and the H&W Fund is done in the collective bargaining process by the Teamsters Negotiating Committee and the Company Negotiating Committee, not "Teamsters management." That Raymond James report is filled with errors. The above is one paragraph's worth. [/QUOTE]
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