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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="reydluap" data-source="post: 1874434" data-attributes="member: 1583"><p>I've hunted on the internet for what was written in this said Federal law that's being mentioned. All I found was this article that lets you click onto a link. I'm not using the news article in any way except to retrieve this link. The 8th paragraph, with the sentence beginning with "But it is in the bill, right there on page 82.........</p><p></p><p><a href="http://www.latimes.com/business/hiltzik/la-fi-mh-congress-expected-20141210-column.html" target="_blank">http://www.latimes.com/business/hiltzik/la-fi-mh-congress-expected-20141210-column.html</a></p><p></p><p>here is what it states:</p><p></p><p><a href="https://www.documentcloud.org/documents/1377518-page-82.html" target="_blank">https://www.documentcloud.org/documents/1377518-page-82.html</a></p><p></p><p>This section of the bill states UPS WILL make up any possibility of pension reductions. BUT it DOESN'T SAY FOR LIFE. The contractual agreement states what happens at Normal Retirement Age. Don't read extra thoughts into what is written. UPS will honor their contractual obligation, but I don't read one word stating anything that it will guarantee the full pension FOR LIFE in this section of the law.</p><p></p><p>Once again, the contract reads: 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></p><p>oldngray, I hear you, I've got over 25 years in Central States. I'll feel the pain too.</p></blockquote><p></p>
[QUOTE="reydluap, post: 1874434, member: 1583"] I've hunted on the internet for what was written in this said Federal law that's being mentioned. All I found was this article that lets you click onto a link. I'm not using the news article in any way except to retrieve this link. The 8th paragraph, with the sentence beginning with "But it is in the bill, right there on page 82......... [URL]http://www.latimes.com/business/hiltzik/la-fi-mh-congress-expected-20141210-column.html[/URL] here is what it states: [URL]https://www.documentcloud.org/documents/1377518-page-82.html[/URL] This section of the bill states UPS WILL make up any possibility of pension reductions. BUT it DOESN'T SAY FOR LIFE. The contractual agreement states what happens at Normal Retirement Age. Don't read extra thoughts into what is written. UPS will honor their contractual obligation, but I don't read one word stating anything that it will guarantee the full pension FOR LIFE in this section of the law. Once again, the contract reads: 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. oldngray, I hear you, I've got over 25 years in Central States. I'll feel the pain too. [/QUOTE]
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REFORM PLAN FOR Central States Pension Plan
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