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Brown Cafe UPS Forum
UPS Union Issues
Pension fix
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<blockquote data-quote="DELACROIX" data-source="post: 3968242" data-attributes="member: 49065"><p>During the 1997 strike it was estimated that UPS would only have to pay about 450 million dollars to leave the CSPF if they were successful... Hence the Ron Carey Hate from the Company..<img src="/community/styles/default/xenforo/smilies/FeltTip/devil.png" class="smilie" loading="lazy" alt=":devil3:" title="Devil :devil3:" data-shortname=":devil3:" /></p><p></p><p>Ten years later in 2007 they shelled out 6 Billion to CSPF to pay for their future liabilities, also an additional 1.5 Billion to start up the new IBT/UPS pension.</p><p></p><p>Twelve years after...They had to pay 1.6 Billion this year to cover any projected costs associated with the Multi Pension Reform Act that will again be coming down the pike pretty soon. They are projecting it could be possible that they would have to pay up to 4 Billion if MPRA approves the pension benefit reductions for it's UPS retirees. They are currently active in lobbying Washington to reduce their projected obligations when the decision is made.</p><p></p><p>Quoting a line from (Hotel California): </p><p></p><p><span style="font-size: 15px">'' YOU CAN CHECK OUT ANYTIME YOU LIKE, BUT YOU CAN NEVER LEAVE'</span></p></blockquote><p></p>
[QUOTE="DELACROIX, post: 3968242, member: 49065"] During the 1997 strike it was estimated that UPS would only have to pay about 450 million dollars to leave the CSPF if they were successful... Hence the Ron Carey Hate from the Company..:devil3: Ten years later in 2007 they shelled out 6 Billion to CSPF to pay for their future liabilities, also an additional 1.5 Billion to start up the new IBT/UPS pension. Twelve years after...They had to pay 1.6 Billion this year to cover any projected costs associated with the Multi Pension Reform Act that will again be coming down the pike pretty soon. They are projecting it could be possible that they would have to pay up to 4 Billion if MPRA approves the pension benefit reductions for it's UPS retirees. They are currently active in lobbying Washington to reduce their projected obligations when the decision is made. Quoting a line from (Hotel California): [SIZE=4]'' YOU CAN CHECK OUT ANYTIME YOU LIKE, BUT YOU CAN NEVER LEAVE'[/SIZE] [/QUOTE]
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