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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: 237921"><p>Cezanne,</p><p>There is a lot of misinformation and speculation posted about pensions on this site, even at this late date. My view is everyone should first read all the official information on the plan website, and only then start posting and speculating afterward. This would save all of us a great deal of time. There would still be differences of opinion, but at least the basic facts would be commonly known.</p><p></p><p>Most people won't look up the plan documents on their own, so I provide a link. Some people still won't click on the link, so I provide the text. Some people still will not read the text, so I provide exerpts. Some people still won't read the exerpts, so I highlight a few key sentences. Just trying to make it as easy as possible. And if anyone does actually go and read the full text, well, it's difficult language, so it doesn't hurt to have read my exerpts first.</p><p></p><p>The IBT has just announced that they intend to cooperate with UPS in setting up a new pension plan for Central States people, so I think it's time to get serious. Eventually you'll be asked to approve that new plan. UPS and the Teamsters will combine their resources to sell you on the new plan. The new plan will be just one feature of the overall Central States Supplement that you will vote on. This is Labor Day Weekend so everyone may have a little extra time to do some reading. </p><p></p><p>As for the plan documents, they speak for themselves. They say what they say. Everyone who has made it this far in this thread should have a working knowledge of them. They also provide a guide to understanding the new plan, since the new plan will have similar plan documents of its own.</p></blockquote><p></p>
[QUOTE="JonFrum, post: 237921"] Cezanne, There is a lot of misinformation and speculation posted about pensions on this site, even at this late date. My view is everyone should first read all the official information on the plan website, and only then start posting and speculating afterward. This would save all of us a great deal of time. There would still be differences of opinion, but at least the basic facts would be commonly known. Most people won't look up the plan documents on their own, so I provide a link. Some people still won't click on the link, so I provide the text. Some people still will not read the text, so I provide exerpts. Some people still won't read the exerpts, so I highlight a few key sentences. Just trying to make it as easy as possible. And if anyone does actually go and read the full text, well, it's difficult language, so it doesn't hurt to have read my exerpts first. The IBT has just announced that they intend to cooperate with UPS in setting up a new pension plan for Central States people, so I think it's time to get serious. Eventually you'll be asked to approve that new plan. UPS and the Teamsters will combine their resources to sell you on the new plan. The new plan will be just one feature of the overall Central States Supplement that you will vote on. This is Labor Day Weekend so everyone may have a little extra time to do some reading. As for the plan documents, they speak for themselves. They say what they say. Everyone who has made it this far in this thread should have a working knowledge of them. They also provide a guide to understanding the new plan, since the new plan will have similar plan documents of its own. [/QUOTE]
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