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UPS Retirement Topics
Surrending CS Pension?
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<blockquote data-quote="ok2bclever" data-source="post: 72590" data-attributes="member: 1356"><p>Well, as far as the lawyers of a "union busting firm" being knowledgeable about the process, there is some truth.</p><p></p><p>Normally however, the ubf term really means the firm works at keeping unions out rather than actually being able to get rid of them after they are in, which is far, far harder.</p><p></p><p>So if we need someone to show us how to spread dissension, suspicion and untruths we would know where to go.</p><p></p><p>Trust them, uhhhhhh, no.</p><p></p><p>I would be all for a UPS employees only pension, just as long as it isn't UPS only as far as decisions go.</p><p></p><p>Of course, that doesn't even get into the consequences that it would no doubt hasten the collapse of the multi-employer pension fund that those of us of higher seniority have most of our years with which would not be beneficial to us.</p><p></p><p>The longer you have been with the company the more of a problem this would represent to you.</p><p></p><p>I have seen what UPS does to their own and wouldn't truly want them in sole charge of the decision making process on how much we get, when and why or under what terms they can reduce, change, take away or disqualify employees.</p><p></p><p>As far as them building up the coffers and happily ever after. . .</p><p></p><p>You are aware that single employer pension funds (that is what we would then have) have been and are failing at a far, far higher rate than multi-employer funds, so it obviously isn't a foolproof move.</p><p></p><p>Not to mention many of these corporations that have control of the pension fund change them from defined benefit to defined contribution making them glorified personal savings accounts where you have limited access and control and they decide how much goes in.</p><p></p><p>Many other seps claim bankruptcy and dump their employees on the government dole, yet continue in business making money so the loop holes for them appear myriad.</p><p></p><p>Unfortunately, nothing is simple, straightforward or "of course".</p></blockquote><p></p>
[QUOTE="ok2bclever, post: 72590, member: 1356"] Well, as far as the lawyers of a "union busting firm" being knowledgeable about the process, there is some truth. Normally however, the ubf term really means the firm works at keeping unions out rather than actually being able to get rid of them after they are in, which is far, far harder. So if we need someone to show us how to spread dissension, suspicion and untruths we would know where to go. Trust them, uhhhhhh, no. I would be all for a UPS employees only pension, just as long as it isn't UPS only as far as decisions go. Of course, that doesn't even get into the consequences that it would no doubt hasten the collapse of the multi-employer pension fund that those of us of higher seniority have most of our years with which would not be beneficial to us. The longer you have been with the company the more of a problem this would represent to you. I have seen what UPS does to their own and wouldn't truly want them in sole charge of the decision making process on how much we get, when and why or under what terms they can reduce, change, take away or disqualify employees. As far as them building up the coffers and happily ever after. . . You are aware that single employer pension funds (that is what we would then have) have been and are failing at a far, far higher rate than multi-employer funds, so it obviously isn't a foolproof move. Not to mention many of these corporations that have control of the pension fund change them from defined benefit to defined contribution making them glorified personal savings accounts where you have limited access and control and they decide how much goes in. Many other seps claim bankruptcy and dump their employees on the government dole, yet continue in business making money so the loop holes for them appear myriad. Unfortunately, nothing is simple, straightforward or "of course". [/QUOTE]
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