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<blockquote data-quote="Mugarolla" data-source="post: 1596017" data-attributes="member: 8481">It&#039;s spelled out in Article 14 Section 1 of the Central Region Supplement. UPS is liable for any reduction in CS pension.Let&#039;s say a guy is retiring in 2018. He will have 30 years and his pension would be $3000 per month. I know we got a raise and get another in 2017, but let&#039;s keep it simple. He will be 57 when he retires.He had 20 years in CS and 10 years in the UPS/IBT pension.UPS will pay him his $3000/month until normal retirement age, 65.When he turns 65, his CS portion of his pension kicks in. Roughly $2000/month.So now he receives $2000/month from CS and $1000 from UPS to keep him at $3000/month. UPS offsets what he gets from CS.If CS reduces his pension from $2000/month to $1000/month, this reduction is not included in the offset.So now UPS pays him $2000/month and CS pays him $1000/month to keep him at $3000/month.UPS is liable for any reduction in the CS pension until and/or if this clause is removed from the contract or until every employee collecting a portion of their pension through CS has passed away.In 30 some years, this will not be an issue. The retirees will have not had any time worked under CS. All their time would have been under the UPS/IBT pension.</blockquote>

[QUOTE="Mugarolla, post: 1596017, member: 8481"] It's spelled out in Article 14 Section 1 of the Central Region Supplement. UPS is liable for any reduction in CS pension. Let's say a guy is retiring in 2018. He will have 30 years and his pension would be $3000 per month. I know we got a raise and get another in 2017, but let's keep it simple. He will be 57 when he retires. He had 20 years in CS and 10 years in the UPS/IBT pension. UPS will pay him his $3000/month until normal retirement age, 65. When he turns 65, his CS portion of his pension kicks in. Roughly $2000/month. So now he receives $2000/month from CS and $1000 from UPS to keep him at $3000/month. UPS offsets what he gets from CS. If CS reduces his pension from $2000/month to $1000/month, this reduction is not included in the offset. So now UPS pays him $2000/month and CS pays him $1000/month to keep him at $3000/month. UPS is liable for any reduction in the CS pension until and/or if this clause is removed from the contract or until every employee collecting a portion of their pension through CS has passed away. In 30 some years, this will not be an issue. The retirees will have not had any time worked under CS. All their time would have been under the UPS/IBT pension. [/QUOTE]

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