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Brown Cafe UPS Forum
UPS Retirement Topics
Pension Agency Faces a New Front
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<blockquote data-quote="teddyr" data-source="post: 54897"><p>ok2bc, You have missed the point entirely. Retired workers are not the bad guys, UPS is not the bad guy nor is the IBT. UPS has not underfunded the plan at all. For what they put in we should be geting alot more out of it. My point is we would be far better off under a single employer pension plan. UPS wants to escape its obligation to the MEPP because they feel they can give us the same benefit and spend less money in doing so. If you go back and read the thread "UPS EMPLOYEES START NEW UNION" and read Feeders post he breaks down what we could be getting with a modest return of 6% and 12%, he actually quotes Hoffa as saying what UPS puts into the fund is "more than enough". I would have to agree. The quote by Mr Lynch that MY2C posted reaffirms what I have been saying all along, we do foot the bill for other retirements. As for "poor UPS getting the shaft" I think it's employees are the ones getting the shaft. You can argue with me but you can't argue with the facts ok2bc.</p></blockquote><p></p>
[QUOTE="teddyr, post: 54897"] ok2bc, You have missed the point entirely. Retired workers are not the bad guys, UPS is not the bad guy nor is the IBT. UPS has not underfunded the plan at all. For what they put in we should be geting alot more out of it. My point is we would be far better off under a single employer pension plan. UPS wants to escape its obligation to the MEPP because they feel they can give us the same benefit and spend less money in doing so. If you go back and read the thread "UPS EMPLOYEES START NEW UNION" and read Feeders post he breaks down what we could be getting with a modest return of 6% and 12%, he actually quotes Hoffa as saying what UPS puts into the fund is "more than enough". I would have to agree. The quote by Mr Lynch that MY2C posted reaffirms what I have been saying all along, we do foot the bill for other retirements. As for "poor UPS getting the shaft" I think it's employees are the ones getting the shaft. You can argue with me but you can't argue with the facts ok2bc. [/QUOTE]
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