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Brown Cafe UPS Forum
UPS Retirement Topics
Pension Agency Faces a New Front
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<blockquote data-quote="wkmac" data-source="post: 54902"><p>ok2bc, </p><p>As I understand it, here's the scenario that is happening. Because of pension loses and shortfalls over the years current UPS money is going to non-UPS retirees. Granted, it's not the exact picture UPS is trying to paint in that we totally subsidize non-UPS retirees but because of the fact the fund is short and UPSers as a whole are not yet large scale withdrawers from the fund this arguement can kinda be made. In a few more years when a much large percentage of UPSers start drawing benefits this arguement will not be so easy to make. It also would suggest when a larger percentage of UPSers do start drawing then the fund will be in real serious trouble making the present look like a picnic unless something is done. That's the way I understand the current situation and for the record I don't like it and I'm concerned as my money now is being used to pay out some present obligations because of poor fund management, poor investment results, etc. etc. and you could list many reasons I haven't even thought of including the companies having not paid enough over the last several years. IMO that is lumped into bad management. </p><p> </p><p>You guys enjoy the weekend as I'm kicking back and waiting on Arlene to come on shore in the panhandle and then move North towards us. The next couple of days are really gonna suck weather wise!</p></blockquote><p></p>
[QUOTE="wkmac, post: 54902"] ok2bc, As I understand it, here's the scenario that is happening. Because of pension loses and shortfalls over the years current UPS money is going to non-UPS retirees. Granted, it's not the exact picture UPS is trying to paint in that we totally subsidize non-UPS retirees but because of the fact the fund is short and UPSers as a whole are not yet large scale withdrawers from the fund this arguement can kinda be made. In a few more years when a much large percentage of UPSers start drawing benefits this arguement will not be so easy to make. It also would suggest when a larger percentage of UPSers do start drawing then the fund will be in real serious trouble making the present look like a picnic unless something is done. That's the way I understand the current situation and for the record I don't like it and I'm concerned as my money now is being used to pay out some present obligations because of poor fund management, poor investment results, etc. etc. and you could list many reasons I haven't even thought of including the companies having not paid enough over the last several years. IMO that is lumped into bad management. You guys enjoy the weekend as I'm kicking back and waiting on Arlene to come on shore in the panhandle and then move North towards us. The next couple of days are really gonna suck weather wise! [/QUOTE]
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