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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: 86514" data-attributes="member: 1576"><p>Putting it a slightly different way: In addition to out and out mismanagement by the trustees, the Central States has to deal with the same issues that the social security system has to deal with. In the past, we had a pyramid (scheme) where there were many contributors for the folks collecting benefits. The pyramid has flattened. There are fewer working members compared to the vast number of retirees collecting benefits. Given the misappropriation of money in the early years, combined with the erosion of employer payers, there are simply too many people collecting benefits and too few workers contributing. The pyramid is turning upside down.</p><p> </p><p>Learn from history or be doomed to repeat it..</p></blockquote><p></p>
[QUOTE="retiredone, post: 86514, member: 1576"] Putting it a slightly different way: In addition to out and out mismanagement by the trustees, the Central States has to deal with the same issues that the social security system has to deal with. In the past, we had a pyramid (scheme) where there were many contributors for the folks collecting benefits. The pyramid has flattened. There are fewer working members compared to the vast number of retirees collecting benefits. Given the misappropriation of money in the early years, combined with the erosion of employer payers, there are simply too many people collecting benefits and too few workers contributing. The pyramid is turning upside down. Learn from history or be doomed to repeat it.. [/QUOTE]
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