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UPS Retirement Topics
Surrending CS Pension?
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<blockquote data-quote="ok2bclever" data-source="post: 73743" data-attributes="member: 1356"><p>I see bush was saying today that too many companies are not putting away enough money to protect the retirement benefits of their workers.</p><p> </p><p>He isn't lying.</p><p> </p><p>An article co-written by the current US secretaries of Commerce and Labor said legislation emerging from Senate negotiations would relax rather than strengthen funding rules for pensions.</p><p> </p><p>"Unless these bills are strengthened, they could result in weaker pension funding that increases the potential that workers will lose benefits and taxpayers will have to bail out the pension insurance program"</p><p> </p><p>"It's no secret that some companies don't want to pay more to support their pension promises," the article by Chao, Snow and Gutierrez said. "It's also no secret that labor unions would rather bargain for new wages than ask companies to fund benefits their members already have."</p><p> </p><p>Agree with both of those statements. <img src="/community/styles/default/xenforo/smilies/group1/glare.gif" class="smilie" loading="lazy" alt=":glare:" title="Glare :glare:" data-shortname=":glare:" /></p><p> </p><p>It appears the pension legislation affecting us so far only attempts to give some breathing room (no idea whether even that will be effective as the language is confusing and in some ways appears more likely to cause funds like the CSPF to fold than fix) with absolutely no efforts to fix the root causes.</p></blockquote><p></p>
[QUOTE="ok2bclever, post: 73743, member: 1356"] I see bush was saying today that too many companies are not putting away enough money to protect the retirement benefits of their workers. He isn't lying. An article co-written by the current US secretaries of Commerce and Labor said legislation emerging from Senate negotiations would relax rather than strengthen funding rules for pensions. "Unless these bills are strengthened, they could result in weaker pension funding that increases the potential that workers will lose benefits and taxpayers will have to bail out the pension insurance program" "It's no secret that some companies don't want to pay more to support their pension promises," the article by Chao, Snow and Gutierrez said. "It's also no secret that labor unions would rather bargain for new wages than ask companies to fund benefits their members already have." Agree with both of those statements. :glare: It appears the pension legislation affecting us so far only attempts to give some breathing room (no idea whether even that will be effective as the language is confusing and in some ways appears more likely to cause funds like the CSPF to fold than fix) with absolutely no efforts to fix the root causes. [/QUOTE]
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