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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: 86510" data-attributes="member: 4645"><p>I believe you are wrong. The company has done well, not as well in the 70's as in the 80's and 90's. But I don't see how you believe the company underfunded it's union employees. </p><p>All contributions were negotiated amounts. As many posters have noted, many plans, especially those well populated by UPS employees and those that recieved the part time contributions, have had outstanding returns and are funding excellent pensions. </p><p>Any explanation that Carey or any other Teamster officials foresaw upcoming pension issues just points out the foolishness of increasing benefits the plans couldn't afford.</p></blockquote><p></p>
[QUOTE="olebrownie, post: 86510, member: 4645"] I believe you are wrong. The company has done well, not as well in the 70's as in the 80's and 90's. But I don't see how you believe the company underfunded it's union employees. All contributions were negotiated amounts. As many posters have noted, many plans, especially those well populated by UPS employees and those that recieved the part time contributions, have had outstanding returns and are funding excellent pensions. Any explanation that Carey or any other Teamster officials foresaw upcoming pension issues just points out the foolishness of increasing benefits the plans couldn't afford. [/QUOTE]
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