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UPS Union Issues
Question about Central States Funding.
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<blockquote data-quote="PiedmontSteward" data-source="post: 1172433" data-attributes="member: 42270"><p>Last time I checked, CS Health & Welfare (TeamCare) had 18+ months of reserves -- meaning if all employer contributions stopped tomorrow, they could continue to pay out claims and benefits for the next year and a half. </p><p></p><p>Using CS H&W to "prop up" the CS pension fund would be incredibly illegal, at worst, and unethical, at best. From what I was told, none of the proposed GWI diversions that have caused so much controversy could be put toward a pension fund in critical (>70%) status. </p><p></p><p>Dues money does not go directly towards pension funds or H&W funds, but locals do contribute to pensions and healthcare plans using dues dollars on behalf of their officers and staff.</p></blockquote><p></p>
[QUOTE="PiedmontSteward, post: 1172433, member: 42270"] Last time I checked, CS Health & Welfare (TeamCare) had 18+ months of reserves -- meaning if all employer contributions stopped tomorrow, they could continue to pay out claims and benefits for the next year and a half. Using CS H&W to "prop up" the CS pension fund would be incredibly illegal, at worst, and unethical, at best. From what I was told, none of the proposed GWI diversions that have caused so much controversy could be put toward a pension fund in critical (>70%) status. Dues money does not go directly towards pension funds or H&W funds, but locals do contribute to pensions and healthcare plans using dues dollars on behalf of their officers and staff. [/QUOTE]
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