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<blockquote data-quote="my2cents" data-source="post: 281699" data-attributes="member: 1287"><p>Navigating the multi-employer waters will be challenging over the next several years. I believe Scott Davis was selected as next CEO because of his financial background and it takes one to throughly understand a pension report. Anyone who has spent any amount of time looking over an actuarial valuation report or an annual financial statement put out by a pension fund will know what I'm talking about. </p><p></p><p>In addition to the downgrade in the company's credit rating, bargaining unit employees in other poorly funded plans will feel the pain as well. UPSers who are participants in the New England Fund for example, will probably have to forfeit most of the wage gains provided in the contract to bring this plan out of the <a href="http://www.nettipf.com/pdf_files/FundingNotice9112007.pdf" target="_blank">critical funding level</a>. At any rate, the buyout is set to take place on the day after Christmas for UPSers who are Central States participants.</p></blockquote><p></p>
[QUOTE="my2cents, post: 281699, member: 1287"] Navigating the multi-employer waters will be challenging over the next several years. I believe Scott Davis was selected as next CEO because of his financial background and it takes one to throughly understand a pension report. Anyone who has spent any amount of time looking over an actuarial valuation report or an annual financial statement put out by a pension fund will know what I'm talking about. In addition to the downgrade in the company's credit rating, bargaining unit employees in other poorly funded plans will feel the pain as well. UPSers who are participants in the New England Fund for example, will probably have to forfeit most of the wage gains provided in the contract to bring this plan out of the [url=http://www.nettipf.com/pdf_files/FundingNotice9112007.pdf]critical funding level[/url]. At any rate, the buyout is set to take place on the day after Christmas for UPSers who are Central States participants. [/QUOTE]
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