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Question for Central Staters
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<blockquote data-quote="ok2bclever" data-source="post: 54874"><p>gman, </p><p> </p><p>With all due respect, the fact that you believe or want to believe it would "cost them a fraction of what they are paying now to provide equal or better benefits." is easy to say, but the math and statistics disagree. </p><p> </p><p>Our fund is not in trouble because money is being illegally, immorally or stupidly wasted by the fund, nor is it being squandered on raising retirees of lesser companies up to our level, despite such popular pablum that is being spewed by those who don't like the organization. </p><p> </p><p>Organizations such as TDU which absolutely abhors Hoffa and other union hating groups that would love nothing better than to expose union corruption and graft have investigated as deeply as they can (now for years since the sht hit the pension fan) and the best they can come up with is to denigrate the financial secrecy (not particularly fond of that myself) of the organization or spread unsubstantiated "what if" scenarios. </p><p> </p><p>Again, it is straight math. </p><p> </p><p>Amount of money coming in, interest compounded on surplus held money, amount of money going out. </p><p> </p><p>The only thing UPS has going for it superior to most of the participating Teamster companies in the plan is it's demographics of a younger and growing (although that has slowed dramatically) workforce relative to the retiring baby boom generation. </p><p> </p><p>I agree that difference would be great for us if we had a comparable plan with UPS that we had been acruing benefits from all these years <strong>and</strong> we could trust UPS to not out think us with legal loopholes to keep the money from us, but that just ain't where we are at in reality. </p><p> </p><p>As a stewart who has watched UPS <em><u>use</u></em> seemingly solid innocent contract language to do exactly what they want, many times at the expense of the employee, I have many reservations about our ability to outwit their ability to write in invisible loopholes in any pension plan they create.</p></blockquote><p></p>
[QUOTE="ok2bclever, post: 54874"] gman, With all due respect, the fact that you believe or want to believe it would "cost them a fraction of what they are paying now to provide equal or better benefits." is easy to say, but the math and statistics disagree. Our fund is not in trouble because money is being illegally, immorally or stupidly wasted by the fund, nor is it being squandered on raising retirees of lesser companies up to our level, despite such popular pablum that is being spewed by those who don't like the organization. Organizations such as TDU which absolutely abhors Hoffa and other union hating groups that would love nothing better than to expose union corruption and graft have investigated as deeply as they can (now for years since the sht hit the pension fan) and the best they can come up with is to denigrate the financial secrecy (not particularly fond of that myself) of the organization or spread unsubstantiated "what if" scenarios. Again, it is straight math. Amount of money coming in, interest compounded on surplus held money, amount of money going out. The only thing UPS has going for it superior to most of the participating Teamster companies in the plan is it's demographics of a younger and growing (although that has slowed dramatically) workforce relative to the retiring baby boom generation. I agree that difference would be great for us if we had a comparable plan with UPS that we had been acruing benefits from all these years [b]and[/b] we could trust UPS to not out think us with legal loopholes to keep the money from us, but that just ain't where we are at in reality. As a stewart who has watched UPS [i]<u>use</u>[/i] seemingly solid innocent contract language to do exactly what they want, many times at the expense of the employee, I have many reservations about our ability to outwit their ability to write in invisible loopholes in any pension plan they create. [/QUOTE]
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