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Brown Cafe UPS Forum
UPS Retirement Topics
Surrending CS Pension?
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<blockquote data-quote="tieguy" data-source="post: 72560" data-attributes="member: 1912"><p>The problem with that liability is that UPS could end up paying a huge bill simply as their reward for being the last employer standing. UPS has paid into these retirement funds, met all their obligations and should not now be penalized simply because they are the only transportation company left with money in their pockets. Since UPS fullfilled their obligations to this fund I think the responsibility for any failures should fall squarely on the teamsters who did not invest this money wisely. If so then I think the teamsters may actually take more of an interest in the financial viablility of the companies they unionize. Perhaps the membership should sue the teamsters for lost or for substandard retirement results. As long as a union thinks they can blame the company for substandard retirement results they will not hold theirselves accountable. One thing that has to come out of the present pension crisis is a process of holding the union and pension trustees accountable for results. UPS pays way too much money into these funds for our people to be shortchanged. JMO</p></blockquote><p></p>
[QUOTE="tieguy, post: 72560, member: 1912"] The problem with that liability is that UPS could end up paying a huge bill simply as their reward for being the last employer standing. UPS has paid into these retirement funds, met all their obligations and should not now be penalized simply because they are the only transportation company left with money in their pockets. Since UPS fullfilled their obligations to this fund I think the responsibility for any failures should fall squarely on the teamsters who did not invest this money wisely. If so then I think the teamsters may actually take more of an interest in the financial viablility of the companies they unionize. Perhaps the membership should sue the teamsters for lost or for substandard retirement results. As long as a union thinks they can blame the company for substandard retirement results they will not hold theirselves accountable. One thing that has to come out of the present pension crisis is a process of holding the union and pension trustees accountable for results. UPS pays way too much money into these funds for our people to be shortchanged. JMO [/QUOTE]
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