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Brown Cafe UPS Forum
UPS Retirement Topics
REFORM PLAN FOR Central States Pension Plan
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<blockquote data-quote="Ms.PacMan" data-source="post: 1869058" data-attributes="member: 4656"><p>No this contract stalled on healthcare. We just got out of a multi-employer pension and were thrown into a multi- employer health fund. Louisville had a lot of issues, not just healthcare.</p><p></p><p>The pension buyout was last contract. When UPS bought us out of CS in 2008 we were led to believe (and maybe the Teamsters did believe) that the 6.4 billion dollar buy out would go a long way to shore up the CS pension. We even had a driver retire under the old pension (without waiting to work the one day in the new pension) because he believed CS would be fine.</p><p></p><p>No one forgot about retirees. Based on the info at the time, everything seemed like a win-win.</p></blockquote><p></p>
[QUOTE="Ms.PacMan, post: 1869058, member: 4656"] No this contract stalled on healthcare. We just got out of a multi-employer pension and were thrown into a multi- employer health fund. Louisville had a lot of issues, not just healthcare. The pension buyout was last contract. When UPS bought us out of CS in 2008 we were led to believe (and maybe the Teamsters did believe) that the 6.4 billion dollar buy out would go a long way to shore up the CS pension. We even had a driver retire under the old pension (without waiting to work the one day in the new pension) because he believed CS would be fine. No one forgot about retirees. Based on the info at the time, everything seemed like a win-win. [/QUOTE]
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REFORM PLAN FOR Central States Pension Plan
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