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Brown Cafe UPS Forum
UPS Retirement Topics
Pension in Jeopardy
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<blockquote data-quote="olebrownie" data-source="post: 86392" data-attributes="member: 4645"><p>You are right retiredone, there was a strike authorization vote. A small percentage of eligible teamsters voted. I guess it is just easier to blame everyone else than to take action. </p><p>While the Teamster leadership painted a picture for the public that the strike was for part timers, the real issue was the pension monies all along. Past problems of fund mismanagement (without any UPS representation at the time) followed by market issues and combined with increased pensions promised by officials seeking election have put many of the pension funds in a precarious position. No company could afford to make the plans whole now, not even UPS with its deep pockets.</p></blockquote><p></p>
[QUOTE="olebrownie, post: 86392, member: 4645"] You are right retiredone, there was a strike authorization vote. A small percentage of eligible teamsters voted. I guess it is just easier to blame everyone else than to take action. While the Teamster leadership painted a picture for the public that the strike was for part timers, the real issue was the pension monies all along. Past problems of fund mismanagement (without any UPS representation at the time) followed by market issues and combined with increased pensions promised by officials seeking election have put many of the pension funds in a precarious position. No company could afford to make the plans whole now, not even UPS with its deep pockets. [/QUOTE]
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