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Brown Cafe UPS Forum
UPS Retirement Topics
New England Teamsters Pension Fund: More Bad News
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<blockquote data-quote="JonFrum" data-source="post: 378786"><p>Very unlikely. UPS is prohibited from advocating that any Locals' members withdraw from any current pension plan thru Dec 19, 2017!</p><p></p><p>Besides, UPS didn't really bail out Central States, it just withdrew its own employees and paid the Withdrawal Liability it legally owed all along. Most of the $6.1 billion payment was ultimately paid by the American Taxpayer, (when UPS deducted the payment on its tax return,) and by the employees outside the Central States area who were handed major concessions in the Master Agreement to help UPS recoup its payment. (Last August 1st we got a $1.00 raise, for example. This August 1st we didn't get a $1.10 or more, now did we.)</p></blockquote><p></p>
[QUOTE="JonFrum, post: 378786"] Very unlikely. UPS is prohibited from advocating that any Locals' members withdraw from any current pension plan thru Dec 19, 2017! Besides, UPS didn't really bail out Central States, it just withdrew its own employees and paid the Withdrawal Liability it legally owed all along. Most of the $6.1 billion payment was ultimately paid by the American Taxpayer, (when UPS deducted the payment on its tax return,) and by the employees outside the Central States area who were handed major concessions in the Master Agreement to help UPS recoup its payment. (Last August 1st we got a $1.00 raise, for example. This August 1st we didn't get a $1.10 or more, now did we.) [/QUOTE]
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