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Pension fix
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<blockquote data-quote="DELACROIX" data-source="post: 3970982" data-attributes="member: 49065"><p>I am taking a gambit on this and will assume that everybody concerned know just how pensions funds are designed. It is a pyramid system...The healthy plans..much unlike the CSPF are built on newer, younger participants that when under a (monetary contribution plan) similar to the Western Conference will continue to expand and grow, thus providing monetary stability with their current retirees and and future growth with their happy actives. Last count (about 49 Billion assets with about 650,000 participants)..Well done Western, good job..</p><p></p><p>The Western had so much going for their plan compared to the Central below are some of them:</p><p></p><p>a. They continued to add other collective bargaining industries other than just trucking, expanding their field of newer participants. The deregulation of the trucking in the 80's and the failure of Washington to fully understand or care about the impact it would have on the CSPF.</p><p></p><p>b. From my understanding (ALL) their part time employees were contributing monetary. Unlike the Central were all the part timers were covered under their company controlled (UPS Pension Plan), a (Defined Benefit Plan) that is not funded under the Article 34 (Master) monetary weekly contribution formula, so if the quoted statement of the UPS part time workforce being at 65 percent is true, it would be fair to say it hurt the Central big time over the last 30 years or so.</p><p></p><p>c. The Federal Oversight into the corruption of the CSPF in the 70's would of been a factor also.</p><p></p><p>Bottom line rather than drag this out...There is not enough money in the Federal Pension Insurance fund to cover a total collapse of the CSPF fund, so they will not be left holding the bag over this. The MPRA will again be submitting a cut of pension benefits for (EVERYBODY) with pension credits under CSPF. I expect that the cuts will be across the board not favoring any industries actives or retirees, and yes UPS will be accountable to their agreed obligations under the withdraw agreement back in 2007...</p></blockquote><p></p>
[QUOTE="DELACROIX, post: 3970982, member: 49065"] I am taking a gambit on this and will assume that everybody concerned know just how pensions funds are designed. It is a pyramid system...The healthy plans..much unlike the CSPF are built on newer, younger participants that when under a (monetary contribution plan) similar to the Western Conference will continue to expand and grow, thus providing monetary stability with their current retirees and and future growth with their happy actives. Last count (about 49 Billion assets with about 650,000 participants)..Well done Western, good job.. The Western had so much going for their plan compared to the Central below are some of them: a. They continued to add other collective bargaining industries other than just trucking, expanding their field of newer participants. The deregulation of the trucking in the 80's and the failure of Washington to fully understand or care about the impact it would have on the CSPF. b. From my understanding (ALL) their part time employees were contributing monetary. Unlike the Central were all the part timers were covered under their company controlled (UPS Pension Plan), a (Defined Benefit Plan) that is not funded under the Article 34 (Master) monetary weekly contribution formula, so if the quoted statement of the UPS part time workforce being at 65 percent is true, it would be fair to say it hurt the Central big time over the last 30 years or so. c. The Federal Oversight into the corruption of the CSPF in the 70's would of been a factor also. Bottom line rather than drag this out...There is not enough money in the Federal Pension Insurance fund to cover a total collapse of the CSPF fund, so they will not be left holding the bag over this. The MPRA will again be submitting a cut of pension benefits for (EVERYBODY) with pension credits under CSPF. I expect that the cuts will be across the board not favoring any industries actives or retirees, and yes UPS will be accountable to their agreed obligations under the withdraw agreement back in 2007... [/QUOTE]
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