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UPS Retirement Topics
Pension letter
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<blockquote data-quote="35years" data-source="post: 2102877" data-attributes="member: 60822"><p>Why would UPS pay 2 Billion? They run the UPS/Teamster (old Central States) fund which now has over a billion in unfunded liability... by UPS's choice.</p><p></p><p>All total, UPS pension funds have over 8 Billion in unfunded liability.</p><p></p><p>With each of the funds UPS will just throw up their hands and say time to cut benefits and raise the age/years of service requirements.</p><p></p><p>Upstate, from your past postings it sounds as if your pension has very liberal years of service requirements and large monthly benefits. I doubt UPS will just kick in 2 Billion so you guys can keep your Cadillac plan when others get far less. UPS had a vested interest in jumping out of Central States...Too many retired truckers from now defunct firms eating UPS contributions. Unless your fund has the same M.O.; cuts are more likely than buyouts.</p><p></p><p>I thought I remember seeing that the guys around Washington D.C. get over $6,000 per month. I doubt that pension plan is sustainable.</p><p>I believe the West had a Cadillac plan as well, how is that one doing? Anyone know?</p></blockquote><p></p>
[QUOTE="35years, post: 2102877, member: 60822"] Why would UPS pay 2 Billion? They run the UPS/Teamster (old Central States) fund which now has over a billion in unfunded liability... by UPS's choice. All total, UPS pension funds have over 8 Billion in unfunded liability. With each of the funds UPS will just throw up their hands and say time to cut benefits and raise the age/years of service requirements. Upstate, from your past postings it sounds as if your pension has very liberal years of service requirements and large monthly benefits. I doubt UPS will just kick in 2 Billion so you guys can keep your Cadillac plan when others get far less. UPS had a vested interest in jumping out of Central States...Too many retired truckers from now defunct firms eating UPS contributions. Unless your fund has the same M.O.; cuts are more likely than buyouts. I thought I remember seeing that the guys around Washington D.C. get over $6,000 per month. I doubt that pension plan is sustainable. I believe the West had a Cadillac plan as well, how is that one doing? Anyone know? [/QUOTE]
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