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Brown Cafe UPS Forum
UPS Union Issues
So whats next? Is this the exact same thing that was done in the Central States?
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<blockquote data-quote="Benben" data-source="post: 1019569" data-attributes="member: 25133"><p><a href="http://www.pionline.com/article/20120903/PRINTSUB/309039997/a-new-pension-model" target="_blank">http://www.pionline.com/article/20120903/PRINTSUB/309039997/a-new-pension-model</a></p><p></p><p> </p><p>"the company and fund agreed to create a new structure for future benefit accruals in which all employers that join the new fund will be liable for only their own employee pension benefits." What exactly does this mean for The New England UPSers, those retired, those currently working and the new hires? </p><p></p><p>The Central States fund is said to be, "in critical status." Yet the letter I received a last month listed it as 80% funded thus not "critical." My interpretation is the company is moving to protect us but I have a nasty habit of looking at things through rose colored glasses.</p></blockquote><p></p>
[QUOTE="Benben, post: 1019569, member: 25133"] [URL]http://www.pionline.com/article/20120903/PRINTSUB/309039997/a-new-pension-model[/URL] "the company and fund agreed to create a new structure for future benefit accruals in which all employers that join the new fund will be liable for only their own employee pension benefits." What exactly does this mean for The New England UPSers, those retired, those currently working and the new hires? The Central States fund is said to be, "in critical status." Yet the letter I received a last month listed it as 80% funded thus not "critical." My interpretation is the company is moving to protect us but I have a nasty habit of looking at things through rose colored glasses. [/QUOTE]
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So whats next? Is this the exact same thing that was done in the Central States?
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