More gloom and doom..CS is tanking

upschuck

Well-Known Member
For one thing, I'm NOT concerned about Central States. I'm not the OP. I've got my other plans and investments.

For another thing, yes, I DID retire under the UPS plan. That is, until I turned 65, then, only the amount of years that I worked at UPS once they paid into CS was paid, is paid by UPS. The rest is paid by CS now. So now, I get about $500 from UPS, the rest from CS.

AND, I see NOWHERE where UPS is going to guarantee the make-up difference. Oh, yes, I heard that when they first paid that $6 Bazillion, that if CS goes bellyup, then "We'll take care of our people". I've heard it over and over but ain't seen it in writing, yet.

If somebody CAN provide me with the exact words that UPS will make it up, I'll be happy to read it but, til then, I DON'T think I'm gonna take em at their word.

Starting at the bottom of pg 218

The UPS/IBT Plan will recognize full-time service in the CS Plan


for determining eligibility for the benefits in this section and will

offset at Normal Retirement Age the benefits accrued from the CS

Plan commencing at Normal Retirement Age. If the benefit paid

from the CS Plan is reduced as permitted or required by law, the

amount of such reduction shall not be included

in this offset.
 
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