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<blockquote data-quote="DELACROIX" data-source="post: 6172603" data-attributes="member: 49065">There is always a reason… I remember back in 2007 before the Central States buyout saying that the 2008 contract will be settled at the end of 2007..sure enough it did, Washington was going to apply a penalty on every underfunded pension plan in America to prevent a future collapse.&nbsp; They pretty much were targeting the largest which was the Central.&nbsp; UPS would have had to increase their pension contributions beyond their contractual agreements. The Union leadership at that time agreed that the Central was a lost cause and had to agree to the buyout. A little familiar with our pension history and there is a lot of dirt behind every decision.&nbsp; There is go longer any oversight over ERISA, the DOL has been neglectful or bought out by corporate interests.&nbsp; Everybody in a pension fund has no say or opinion on the decisions that effect your future retirement…</blockquote>

[QUOTE="DELACROIX, post: 6172603, member: 49065"] There is always a reason… I remember back in 2007 before the Central States buyout saying that the 2008 contract will be settled at the end of 2007..sure enough it did, Washington was going to apply a penalty on every underfunded pension plan in America to prevent a future collapse. They pretty much were targeting the largest which was the Central. UPS would have had to increase their pension contributions beyond their contractual agreements. The Union leadership at that time agreed that the Central was a lost cause and had to agree to the buyout. A little familiar with our pension history and there is a lot of dirt behind every decision. There is go longer any oversight over ERISA, the DOL has been neglectful or bought out by corporate interests. Everybody in a pension fund has no say or opinion on the decisions that effect your future retirement… [/QUOTE]

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