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Brown Cafe UPS Forum
UPS Retirement Topics
Pension in Jeopardy
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<blockquote data-quote="retiredone" data-source="post: 86512" data-attributes="member: 1576"><p>I am stunned that the current day problem was a surprise to anyone. There were widely published, although likely ignored, news reports about union trustees being jailed for pension fraud. It is simply ignoring reality to claim that this was an unexpected problem. And if the rank and file doesn't learn from past mistakes, they are bound to repeat them.</p><p> </p><p>It is also a bad idea to ignore success. The problems are limited: primarily to one mismanaged fund. If the rank and file ignores the lessons learned by successful funds and simply pretends the company is the problem, you will continue to have serious problems in the future.</p><p> </p><p>Putting it another way, if full time membership (employer contributions) increase, but the number of people eligible for beneifts increases proportionatly, you will simply have a bigger problem to address in the future.</p><p> </p><p>If someone believe that UPS had a secret agenda to take advantage of the union, you would also have to accept the idea that the union leaders were stupid. This is not the case. Certainly with all the reports of theft and mismanagement, the employer who abided by the contract is not to blame.</p><p> </p><p>The erosiion of Teamster union jobs nationwide contributed to this problem. Where before there were many employers to pay the pension, now there are few. In fact, there is one main contributor. Expecting that one contributor to artificially create additional full time jobs would simply bankrupt the company and "kill the goose that laid the golden egg". I agree that expanding full time Teamster jobs is a must, but relying on one employer to do it is simply putting all your eggs in one basket and doomed to failure.</p></blockquote><p></p>
[QUOTE="retiredone, post: 86512, member: 1576"] I am stunned that the current day problem was a surprise to anyone. There were widely published, although likely ignored, news reports about union trustees being jailed for pension fraud. It is simply ignoring reality to claim that this was an unexpected problem. And if the rank and file doesn't learn from past mistakes, they are bound to repeat them. It is also a bad idea to ignore success. The problems are limited: primarily to one mismanaged fund. If the rank and file ignores the lessons learned by successful funds and simply pretends the company is the problem, you will continue to have serious problems in the future. Putting it another way, if full time membership (employer contributions) increase, but the number of people eligible for beneifts increases proportionatly, you will simply have a bigger problem to address in the future. If someone believe that UPS had a secret agenda to take advantage of the union, you would also have to accept the idea that the union leaders were stupid. This is not the case. Certainly with all the reports of theft and mismanagement, the employer who abided by the contract is not to blame. The erosiion of Teamster union jobs nationwide contributed to this problem. Where before there were many employers to pay the pension, now there are few. In fact, there is one main contributor. Expecting that one contributor to artificially create additional full time jobs would simply bankrupt the company and "kill the goose that laid the golden egg". I agree that expanding full time Teamster jobs is a must, but relying on one employer to do it is simply putting all your eggs in one basket and doomed to failure. [/QUOTE]
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