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Brown Cafe UPS Forum
UPS Union Issues
Oz vs Vairma
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<blockquote data-quote="DELACROIX" data-source="post: 5026962" data-attributes="member: 49065"><p>You have to understand that the Western’s pension trust is classified as a “Monetary Contribution Pension Plan” it is getting individual monetary contributions per Article 34 (Master). Which is averaging about 500 a week for a full timer, their part timers are also contributing, not sure about their weekly contributions.</p><p></p><p>Under the IBT/UPS pension plan established in 2007 which happens to be a “Defined Pension Plan” is not subject to the Article 34 contributions, the company only has to pay at the end of the year the required payments to keep the the vested requirements to the promised pension benefits. All pension funds rely on investment returns, so when the markets are doing well the Western will continue to grow, under the IBT/UPS and every other defined pension plan the company wins out because at the end of the year they do not have to contribute more because of the plan’s investment returns.</p></blockquote><p></p>
[QUOTE="DELACROIX, post: 5026962, member: 49065"] You have to understand that the Western’s pension trust is classified as a “Monetary Contribution Pension Plan” it is getting individual monetary contributions per Article 34 (Master). Which is averaging about 500 a week for a full timer, their part timers are also contributing, not sure about their weekly contributions. Under the IBT/UPS pension plan established in 2007 which happens to be a “Defined Pension Plan” is not subject to the Article 34 contributions, the company only has to pay at the end of the year the required payments to keep the the vested requirements to the promised pension benefits. All pension funds rely on investment returns, so when the markets are doing well the Western will continue to grow, under the IBT/UPS and every other defined pension plan the company wins out because at the end of the year they do not have to contribute more because of the plan’s investment returns. [/QUOTE]
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