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Brown Cafe UPS Forum
UPS Union Issues
Nys teamsters pension & retirement fund
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<blockquote data-quote="BigUnionGuy" data-source="post: 3183968" data-attributes="member: 4992"><p>That's debatable.</p><p></p><p>Average wage, health & welfare, and pension increases. Modest improvement in contract</p><p></p><p>language.... it was more of a moral victory, watching the company capitulate.</p><p></p><p></p><p></p><p></p><p></p><p>I laugh when people accuse Hoffa of this.</p><p></p><p>He's not a trustee on any of the funds, nor can he manipulate the stock market. There are</p><p></p><p>something like 142 pension funds in the USA that are in declining or critical status.</p><p></p><p>It's pretty simple math. When you have more members withdrawing than contributing....</p><p></p><p>you'll need a heck of a return on your investments, to cover the difference.</p><p></p><p></p><p>It was hard for me to understand the amount your plan was paying out, when Central</p><p></p><p>States wasn't paying out 3/5 of that and sinking.</p><p></p><p></p><p></p><p>-Bug-</p></blockquote><p></p>
[QUOTE="BigUnionGuy, post: 3183968, member: 4992"] That's debatable. Average wage, health & welfare, and pension increases. Modest improvement in contract language.... it was more of a moral victory, watching the company capitulate. I laugh when people accuse Hoffa of this. He's not a trustee on any of the funds, nor can he manipulate the stock market. There are something like 142 pension funds in the USA that are in declining or critical status. It's pretty simple math. When you have more members withdrawing than contributing.... you'll need a heck of a return on your investments, to cover the difference. It was hard for me to understand the amount your plan was paying out, when Central States wasn't paying out 3/5 of that and sinking. -Bug- [/QUOTE]
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