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UPS Retirement Topics
REFORM PLAN FOR Central States Pension Plan
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<blockquote data-quote="Mugarolla" data-source="post: 1871881" data-attributes="member: 8481"><p>Well, it's about time you said something. You have just been disagreeing with posts instead of posting your <strong>reason </strong>as to why you disagree.</p><p></p><p>I guess that's what the button is for. Anyone can click a button. Tell us why you disagree.</p><p></p><p></p><p></p><p>It's about time</p><p></p><p></p><p></p><p>Yes it does. The withdrawal liability was what was need to cover that portion of UPS retirees pensions who will receive a partial CSPF payment, for life. Problem is, the money vanished and is now gone. So they have to do something.</p><p></p><p></p><p></p><p>Plus the UPS portion after normal retirement age, 65. But the buy out did not guarantee the CSPF portion. The buy out is what was needed to cover the CSPF portion, for life.</p><p></p><p>And, under the current law at the time, it was guaranteed. The pension fund could not reduce it. So yes, the pension buy out plan guaranteed your full pension for life, until the law changed.</p><p></p><p>There are no guarantees in life, except for taxes and death.</p><p></p><p></p><p></p><p>You're relying, stating facts, on a calculator on a web site?</p><p></p><p>The cuts were only announced last week and are not even approved yet, and you think a calculator has been updated?</p><p></p><p></p><p></p><p>Yes, it says that.</p><p></p><p>And we can argue all day long what it means. The <strong>fact </strong>is that even CSPF, within the letters they sent out, agree that this clause means that UPS is liable for any reduction.</p><p></p><p>So are you going to believe a calculator on a web site, or are you going to believe your Congress, your union and the CSPF?</p><p></p><p></p><p></p><p>Are you serious?</p><p></p><p>The CSPF is going to cut our pensions and you don't want them to send you a letter?</p><p></p><p></p><p></p><p>Again, are you serious? CSPF is showing you what your pension amount is going to be reduced to. If UPS, by law or contract, does not pay this reduction, you need to know what your pension will be.</p><p></p><p>By law, they have to send you these letters. I am not worried about my CSPF cuts. It is going to happen and it is a fact.</p><p></p><p>I am worried about UPS finding some was to not make them up.</p><p></p><p></p><p></p><p></p><p>Yes, the CS portion stays the same. You are not earning any more credits in the CS Plan. It will be a fixed amount starting at age 65 until you die.</p><p></p><p>The UPS portion will rise as you put in later dates of retirements because we have a contributory pension. The more years we put in, the higher the pension will be. UPS portion rises and the CSPF portion remains constant.</p><p></p><p><strong>And, by the way, the calculator shows what the CS Plan pays right now, before any reductions.</strong></p><p></p><p></p><p></p><p>No, they do not. That is why we need to keep the clause in the contract. Does it need to be there for UPS to make up any cuts? That is up for debate.</p><p></p><p>But if the answer is yes, if it is removed from the contract at a later point, then, yes, we could be screwed. But no one can say, with 100% certainty, that it will be removed.</p><p></p><p></p><p></p><p>And we agree on something.</p><p></p><p></p><p></p><p></p><p>Do you see how to do it? You don't just disagree with someone.</p><p></p><p>State your side as to why you disagree.</p><p></p><p>And in this case, I believe your facts are incorrect.</p><p></p><p>You are welcome to rebut my facts instead of just disagreeing. This is how its done. But if you feel that you just need to click disagree, so be it.</p><p></p></blockquote><p></p>
[QUOTE="Mugarolla, post: 1871881, member: 8481"] Well, it's about time you said something. You have just been disagreeing with posts instead of posting your [B]reason [/B]as to why you disagree. I guess that's what the button is for. Anyone can click a button. Tell us why you disagree. It's about time Yes it does. The withdrawal liability was what was need to cover that portion of UPS retirees pensions who will receive a partial CSPF payment, for life. Problem is, the money vanished and is now gone. So they have to do something. Plus the UPS portion after normal retirement age, 65. But the buy out did not guarantee the CSPF portion. The buy out is what was needed to cover the CSPF portion, for life. And, under the current law at the time, it was guaranteed. The pension fund could not reduce it. So yes, the pension buy out plan guaranteed your full pension for life, until the law changed. There are no guarantees in life, except for taxes and death. You're relying, stating facts, on a calculator on a web site? The cuts were only announced last week and are not even approved yet, and you think a calculator has been updated? Yes, it says that. And we can argue all day long what it means. The [B]fact [/B]is that even CSPF, within the letters they sent out, agree that this clause means that UPS is liable for any reduction. So are you going to believe a calculator on a web site, or are you going to believe your Congress, your union and the CSPF? Are you serious? The CSPF is going to cut our pensions and you don't want them to send you a letter? Again, are you serious? CSPF is showing you what your pension amount is going to be reduced to. If UPS, by law or contract, does not pay this reduction, you need to know what your pension will be. By law, they have to send you these letters. I am not worried about my CSPF cuts. It is going to happen and it is a fact. I am worried about UPS finding some was to not make them up. Yes, the CS portion stays the same. You are not earning any more credits in the CS Plan. It will be a fixed amount starting at age 65 until you die. The UPS portion will rise as you put in later dates of retirements because we have a contributory pension. The more years we put in, the higher the pension will be. UPS portion rises and the CSPF portion remains constant. [B]And, by the way, the calculator shows what the CS Plan pays right now, before any reductions.[/B] No, they do not. That is why we need to keep the clause in the contract. Does it need to be there for UPS to make up any cuts? That is up for debate. But if the answer is yes, if it is removed from the contract at a later point, then, yes, we could be screwed. But no one can say, with 100% certainty, that it will be removed. And we agree on something. Do you see how to do it? You don't just disagree with someone. State your side as to why you disagree. And in this case, I believe your facts are incorrect. You are welcome to rebut my facts instead of just disagreeing. This is how its done. But if you feel that you just need to click disagree, so be it. [B][/B] [/QUOTE]
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