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<blockquote data-quote="BrownMonk" data-source="post: 2963487" data-attributes="member: 66576"><p>First, you have to be aware that for years carhaul and freight had much more in contributions than UPS so we just happen to be the big contributor and it may not always be like that. </p><p> Next, in the next couple weeks there should be legislation proposed in Congress to help save what is already there. It mimics the plan that saved the Credit Unions back in the 80s and 90s when they were having huge issues. The Funds will sell longterm bonds to private investors who will forgo any payments, except interest, for a couple decades until a balloon payment way down the line. The Government will guarantee the loans so the investors have no liability. Each Fund should borrow the amount of their liability for payouts for the next couple decades and reinvest the money that they already have to make it grow in anticipation of the balloon payment. The interest rate is minimal. This gives the Funds the ability to re adjust their payout procedure and get back to financial stability. It becomes putting off the inevitable unless some real changes are made within each Fund. Trustees(both Union and Company) have to stop trying to be heroes and do the hard work. Private Funds(Company Pensions) would also have rights to the Bonds. I could see UPS borrowing money and using it as a low interest loan. </p><p> The idea is popular in Wash DC because all legislators know that the system is collapsing and the Government is on the hook and can't keep up. Also, it will put a drain on all the other government assistance programs. </p><p> I'm not sure if it will work but will give time to fix it if it is implemented. BTW BrownSlave....it isn't "my Union's" problem. It is an American problem.</p></blockquote><p></p>
[QUOTE="BrownMonk, post: 2963487, member: 66576"] First, you have to be aware that for years carhaul and freight had much more in contributions than UPS so we just happen to be the big contributor and it may not always be like that. Next, in the next couple weeks there should be legislation proposed in Congress to help save what is already there. It mimics the plan that saved the Credit Unions back in the 80s and 90s when they were having huge issues. The Funds will sell longterm bonds to private investors who will forgo any payments, except interest, for a couple decades until a balloon payment way down the line. The Government will guarantee the loans so the investors have no liability. Each Fund should borrow the amount of their liability for payouts for the next couple decades and reinvest the money that they already have to make it grow in anticipation of the balloon payment. The interest rate is minimal. This gives the Funds the ability to re adjust their payout procedure and get back to financial stability. It becomes putting off the inevitable unless some real changes are made within each Fund. Trustees(both Union and Company) have to stop trying to be heroes and do the hard work. Private Funds(Company Pensions) would also have rights to the Bonds. I could see UPS borrowing money and using it as a low interest loan. The idea is popular in Wash DC because all legislators know that the system is collapsing and the Government is on the hook and can't keep up. Also, it will put a drain on all the other government assistance programs. I'm not sure if it will work but will give time to fix it if it is implemented. BTW BrownSlave....it isn't "my Union's" problem. It is an American problem. [/QUOTE]
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