Retired union workers facing 'unprecedented' pension cuts.

[grgrcr88]

Now,
I did not read the article, I am out of town. Friend said it does include UPS and Teamsters were going with this.
Can ANYONE tell me if it is True if this "Could" affect UPS people and if Teamsters Leaders are for this?

"
Hundreds of thousands of retired union workers are facing pension cuts that could slash their monthly payments in half — or even more."

(sorry it is bold -- Cut and paste from phone)
Retired union workers facing 'unprecedented' pension cuts - Nov. 15, 2013

If you went to your local union meetings you would know all about this already.

 

[RealPerson]

If you went to your local union meetings you would know all about this already.

I work all day Saturdays!

 

[old brown diamond reo]

In article 34 of the master a paragraph reads.

The UPS/IBT Plan will recognize full-time service in the CS plan for determining eligibility for the benefits in this section and will offset at normal retirement age the benefits accrued from the CS Plan commencing at normal retirement age. 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.

What does this mean? If the benefit is reduced by law the reduction shall not be included in this offset. Page 85 contract book.

I think some of you are reading this wrong. It means just the opposite of what you are thinking. At 65, when central states pays their part of our pension, if their part has been reduced by law, ups can't include this in the off-set. In other words they have to make up the difference.

 

[pretender]

I am just cautious about trusting promises from UPS that aren't in writing.

...and notarized.

 

[RealPerson]

Exactly.... I see Several Different answers. There should be an official place to ask for clarification and the Answer is Set in Stone. Sorry I don't like go ask a Steward or BA. As you can see see just from here, many have different answers.

 

[Catatonic]

Exactly.... I see Several Different answers. There should be an official place to ask for clarification and the Answer is Set in Stone. Sorry I don't like go ask a Steward or BA. As you can see see just from here, many have different answers.

Dream on ... these contracts and documents are works of lawyers.

​Perpetual motion.