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UPS Retirement Topics
REFORM PLAN FOR Central States Pension Plan
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<blockquote data-quote="reydluap" data-source="post: 1874316" data-attributes="member: 1583"><p>UPS'm</p><p></p><p> With all due respect. I have read your link and understand your thinking. And yes, I agree, UPS will pay the full pension that you have earned (covering any possible reductions in the CSPF) until the age of 65. This is written in the CURRENT contractual agreement with UPS.</p><p></p><p>NO WHERE in your stated link does it state that it will make full payments FOR LIFE. The article can't make that claim, at any time, for this is in a supplemental agreement in the Central States section of the Master Contract. The UPS/TEAMSTER Contract agreement is only good through August 1, 2018, it is then that we can see possible wording changes of this "offset" paragraph.</p><p></p><p>But as of right now until August 1st, 2018, it still states in our contract that benefits split at Normal Retirement Age (age 65). Then, UPS will offset and pay their pension share earned since January 1, 2007 and CSPF will pay what we earned in their plan prior to December 31,2006. And, if CSPF reduces it's benefit, there is NO contractual wording in this contract that states UPS will make up the difference of the CSPF reductions at age 65 and beyond. It states just the opposite. Read this UPS contractual agreement sentence again, slowly..........:</p><p></p><p>If the benefit paid from the CS Plan is reduced as permitted or required by law, the amount of such reduction shall NOT be included in this offset.</p><p></p><p></p><p> I'll stand firm on my post until someone can show me by facts that SOME WHERE it is written that what I'm saying is incorrect. Please, Show me a UPS or CSPF legal contractual agreement that states our pension is GUARANTEED FOR LIFE (past the age of 65) and I'll admit that I am mistaken. I pray that what I have written and studied is wrong, I really do. I'm just stating what is written (or not written) and not reading hopes and dreams into these outside articles being published.</p><p></p><p>I'm not here to argue with anyone. But only to help my fellow employees out.</p><p></p><p>Read my post on this again. Think about it. Go check YOUR retirement calculator on UPSers.com, read our contract. Then you make your own decisions. You'll then understand where I'm coming from.</p></blockquote><p></p>
[QUOTE="reydluap, post: 1874316, member: 1583"] UPS'm With all due respect. I have read your link and understand your thinking. And yes, I agree, UPS will pay the full pension that you have earned (covering any possible reductions in the CSPF) until the age of 65. This is written in the CURRENT contractual agreement with UPS. NO WHERE in your stated link does it state that it will make full payments FOR LIFE. The article can't make that claim, at any time, for this is in a supplemental agreement in the Central States section of the Master Contract. The UPS/TEAMSTER Contract agreement is only good through August 1, 2018, it is then that we can see possible wording changes of this "offset" paragraph. But as of right now until August 1st, 2018, it still states in our contract that benefits split at Normal Retirement Age (age 65). Then, UPS will offset and pay their pension share earned since January 1, 2007 and CSPF will pay what we earned in their plan prior to December 31,2006. And, if CSPF reduces it's benefit, there is NO contractual wording in this contract that states UPS will make up the difference of the CSPF reductions at age 65 and beyond. It states just the opposite. Read this UPS contractual agreement sentence again, slowly..........: If the benefit paid from the CS Plan is reduced as permitted or required by law, the amount of such reduction shall NOT be included in this offset. I'll stand firm on my post until someone can show me by facts that SOME WHERE it is written that what I'm saying is incorrect. Please, Show me a UPS or CSPF legal contractual agreement that states our pension is GUARANTEED FOR LIFE (past the age of 65) and I'll admit that I am mistaken. I pray that what I have written and studied is wrong, I really do. I'm just stating what is written (or not written) and not reading hopes and dreams into these outside articles being published. I'm not here to argue with anyone. But only to help my fellow employees out. Read my post on this again. Think about it. Go check YOUR retirement calculator on UPSers.com, read our contract. Then you make your own decisions. You'll then understand where I'm coming from. [/QUOTE]
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