This seems like the reasonable and appropriate way to provide oversight in the managment of your pension. All parties that have an interest in the retirement funds would be represented on the trustee board.why shouldnt the people from upsf take pride in themselves, they had their pension before ups bought them out. whats wrong with asking tough question to any union? I want my fellow coworks to be informed. at the APWA meeting yesterday (Nov 5th) they said they idnt want our pension. the said it sould be handled by the employees with a panel of retirees, employees and management along with apwa officals over seeing it. LOOK AT THE BIG PICTURE. ITS the employees pension why does management need to be involved or did i misunderstand (NOT)
1. Retirees--for obvious reasons they should know and influence how their money is being managed.
2. Current employees--for obvious reasons current employees should personally know and influence how their money is being managed
3. APWA officials-- the membership is electing this organization to service and manage the pension. APWA officials would bring operational knowledge to the trustee board. And how well the fund performs and how well APWA produces on its goals would dictate how the membership votes. Thus, APWA needs to have a voice on the Trustee board.
4. UPS management-- They have a very strong interest in the performance of the pension and want to know that their employees are receiving their just benefits. Pension benefits is an investment on the part of the employer to entice employees to remain with the company. And UPS would want to influence fund managment to protect that investment. True, this might not always be in the best interest of the employee, but thats why the three other parties are present on the board so as to balance out the power.
Also, I don't have the web site to prove this, but common sense tells me that the ERISA laws probably require that employer representation be provided on pension board of trustees.
Looking at the big picture as you said, it is the employee's pension fund. Thus the reason why 75% of trustee members are employee representatives.