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UPS Retirement Topics
Pension letter
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<blockquote data-quote="35years" data-source="post: 2101302" data-attributes="member: 60822"><p>If there is a lesson to be learned from the Central States buyout it is that you should wait until UPS buys out it's employees.</p><p></p><p>That being said the new UPS/Teamster pension is listed as 103% funded even though by the accounting standards used up until 2014 it would be considered only 78% funded (Plan assets $4,994,575,825. Plan’s liabilities $6,036,761,451). The feds allowed the accounting change so company pensions would have more time to recover and not be considered in the red zone. UPS took the opportunity to save itself from contributing $444 million to fulfill the minimum contribution. Not good for the pension, but it made stockholders happy...</p><p><a href="http://www.browncafe.com/community/threads/ups-ibt-pension-funding.368365/#post-2053113" target="_blank">http://www.browncafe.com/community/threads/ups-ibt-pension-funding.368365/#post-2053113</a></p></blockquote><p></p>
[QUOTE="35years, post: 2101302, member: 60822"] If there is a lesson to be learned from the Central States buyout it is that you should wait until UPS buys out it's employees. That being said the new UPS/Teamster pension is listed as 103% funded even though by the accounting standards used up until 2014 it would be considered only 78% funded (Plan assets $4,994,575,825. Plan’s liabilities $6,036,761,451). The feds allowed the accounting change so company pensions would have more time to recover and not be considered in the red zone. UPS took the opportunity to save itself from contributing $444 million to fulfill the minimum contribution. Not good for the pension, but it made stockholders happy... [URL]http://www.browncafe.com/community/threads/ups-ibt-pension-funding.368365/#post-2053113[/URL] [/QUOTE]
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