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Brown Cafe UPS Forum
UPS Union Issues
Ok this contract is done
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<blockquote data-quote="DELACROIX" data-source="post: 3698558" data-attributes="member: 49065"><p>I agree the timing of UPS eliminating pension monetary contributions into their Managements' trust and the end of this contract corresponds to the the possible collapse of the the "Central States" fund in 2023. I believe that UPS contributes about 2,000,000,000 annually currently into their managements' pension trusts, that is a lot of money that they could use to bail out the "Central States" or cover their losses if the fund goes into insolvency. The "UPS Retirement Plan" is about 100 percent vested so it will be able to pay for all those who currently have vested time with it. Those management partners who are eligible for any pension benefit will still be able to collect their pensions which is formulated at basically at 50 percent of their base salary for their last five years and free Health and Welfare for them and their spouses till age 65. In other words it will not affect those on the higher food chain, they are set for life.</p><p></p><p>There is a storm coming with the next contract even if this one passes, the count down started in 2013 and the final ending will be in 2023.</p></blockquote><p></p>
[QUOTE="DELACROIX, post: 3698558, member: 49065"] I agree the timing of UPS eliminating pension monetary contributions into their Managements' trust and the end of this contract corresponds to the the possible collapse of the the "Central States" fund in 2023. I believe that UPS contributes about 2,000,000,000 annually currently into their managements' pension trusts, that is a lot of money that they could use to bail out the "Central States" or cover their losses if the fund goes into insolvency. The "UPS Retirement Plan" is about 100 percent vested so it will be able to pay for all those who currently have vested time with it. Those management partners who are eligible for any pension benefit will still be able to collect their pensions which is formulated at basically at 50 percent of their base salary for their last five years and free Health and Welfare for them and their spouses till age 65. In other words it will not affect those on the higher food chain, they are set for life. There is a storm coming with the next contract even if this one passes, the count down started in 2013 and the final ending will be in 2023. [/QUOTE]
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Ok this contract is done
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