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More gloom and doom..CS is tanking
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<blockquote data-quote="UpstateNYUPSer(Ret)" data-source="post: 1585298" data-attributes="member: 12570"><p>The letter that I am referring to is the one that my BA received, which was actually an e-mail from a meeting recently held in Chicago in which details of the rescue plan were revealed. As mentioned above, our BA told us that UPS anticipated this and positioned our retirees to where they would be the last ones impacted by any pension cuts, which could be as high as 30%.</p><p></p><p>Our BA also told us that the government has added another level of pension fund status for pension funds that are severely underfunded (less than 20%).</p><p></p><p>Our pension fund is just below 50% and we were told that we will probably have to revisit the pension rehab plan that we recently passed if we have any hope of maintaining a solvent plan.</p></blockquote><p></p>
[QUOTE="UpstateNYUPSer(Ret), post: 1585298, member: 12570"] The letter that I am referring to is the one that my BA received, which was actually an e-mail from a meeting recently held in Chicago in which details of the rescue plan were revealed. As mentioned above, our BA told us that UPS anticipated this and positioned our retirees to where they would be the last ones impacted by any pension cuts, which could be as high as 30%. Our BA also told us that the government has added another level of pension fund status for pension funds that are severely underfunded (less than 20%). Our pension fund is just below 50% and we were told that we will probably have to revisit the pension rehab plan that we recently passed if we have any hope of maintaining a solvent plan. [/QUOTE]
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