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Brown Cafe UPS Forum
UPS Union Issues
Retired union workers facing 'unprecedented' pension cuts.
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<blockquote data-quote="PiedmontSteward" data-source="post: 1224087" data-attributes="member: 42270"><p>Based on my understanding, it would not affect UPS workers that retire(d) after 2008 as UPS is contractually obligated to "pick up the tab" on any pension shortfalls when/if Central States is taken over by the PBGC as part of their pension will be under CS and the rest (post 2008) will be under the UPS/IBT Plan. </p><p></p><p>The proposed pension reform <strong>would</strong>, however, affect other Teamsters still covered by Central States. Hoffa sent out a letter at the end of October on IBT's stance on the issue: <a href="http://www.tdu.org/sites/default/files/IBTletteronSolutionsNotBailouts_0.pdf" target="_blank">http://www.tdu.org/sites/default/files/IBTletteronSolutionsNotBailouts_0.pdf</a></p></blockquote><p></p>
[QUOTE="PiedmontSteward, post: 1224087, member: 42270"] Based on my understanding, it would not affect UPS workers that retire(d) after 2008 as UPS is contractually obligated to "pick up the tab" on any pension shortfalls when/if Central States is taken over by the PBGC as part of their pension will be under CS and the rest (post 2008) will be under the UPS/IBT Plan. The proposed pension reform [B]would[/B], however, affect other Teamsters still covered by Central States. Hoffa sent out a letter at the end of October on IBT's stance on the issue: [url]http://www.tdu.org/sites/default/files/IBTletteronSolutionsNotBailouts_0.pdf[/url] [/QUOTE]
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