feedertrainer
Member
There is conversations regarding combining all union pension plans into one so the strong one can keep the weaker ones afloat.
Pension Consolidation
- Thread starter feedertrainer
- Start date
UpstateNYUPSer(Ret)
Well-Known Member
While I would personally benefit from such a move, I don't see where it would be fair to the stronger plans.
3 done 3 to go
In control of own destiny
It's not gonna happen.
We need individual 401k plans.
3 done 3 to go
In control of own destiny
Too late for us now. Defiantly all new hires
It's depressing
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In control of own destiny
Not sure what the fair answer is.
3 done 3 to go
In control of own destiny
The ideas they have is kicking the can. Gotta actually try something. Not the same OK. It obviously doesn't work
Too many orphans
3 done 3 to go
In control of own destiny
If the companies no longer contribute. Its those who should be reduced. Not for ups to carry the pension. 76% is rediculously high
I know. The company is paying into my pension over 26k a year and I'm getting almost nothing.
35years
Gravy route
I know UPS wants to float this idea before contract negotiations but they could be more subtle.. Using a brand new Brown Cafe account is a bit obvious. They could at least pass through an established company shill here like Frigid.
Exiting the current plans really doesn't solve the problem. Look at what is happening in the UPS-Teamsters plan that replaced Central States. Although it is better off than Central States, it is currently underfunded by 2 billion. ..
See details below...
UPS/IBT pension funding
Coldworld
60 months and counting
How much would you get if you retired today???
Coldworld
60 months and counting
Ups probably doesn't care one bit if our guys get a pension or not....
Not enough. And the way it's underfunded I can't guarantee it for that long.
ski or die
Ski or Die
Some plans pay considerable more per month than other plans. The plans they were more conservative are in a lot better shape. These plans would assume the liability of the plans that weren't fiscally responsible and put them in jeopardy also. The plans should be examined and come to realize that funds being put into them are unable to sustain them at the rates they are paying and lower them in line with the more conservative plans to help them remain solvent.
A big part of the problem is many if the and are multi employer. Unfortunately many of the other participants are out of business but still have retirees collecting. Not enough going in and too much going out.
Returntosender
Well-Known Member
Against this.
Wally
BrownCafe Innovator & King of Puns
You plan sucks because you are paying too much out? Sucks to be you.
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