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UPS Union Issues
Teamsters Applaud Treasury Decision to Deny CSPF Cuts, Protect Retiree Pensions
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<blockquote data-quote="upschuck" data-source="post: 2207617" data-attributes="member: 49865"><p>Because they would be on the hook for 10 more years of retirees that CSPF could not pay on, thus getting the full pension amount instead of 30-50% of pension amount.</p><p></p><p>How about the one that paid little to nothing and got full credit? Who thought that was a good idea?</p><p></p><p>Another reason the infusion would have worked a lot better in 97, so it could have grown in the top 20% longer, giving the fund a lot more time to increase the infusement of monies to grow, rather than right before the fall. Besides, CSPF has been around a lot longer than 20 years.</p><p></p><p>My bad, someone mention 25% was the PBGC guarantee for multi employer. Single employer is much higher guaranteed, from what I've heard.</p></blockquote><p></p>
[QUOTE="upschuck, post: 2207617, member: 49865"] Because they would be on the hook for 10 more years of retirees that CSPF could not pay on, thus getting the full pension amount instead of 30-50% of pension amount. How about the one that paid little to nothing and got full credit? Who thought that was a good idea? Another reason the infusion would have worked a lot better in 97, so it could have grown in the top 20% longer, giving the fund a lot more time to increase the infusement of monies to grow, rather than right before the fall. Besides, CSPF has been around a lot longer than 20 years. My bad, someone mention 25% was the PBGC guarantee for multi employer. Single employer is much higher guaranteed, from what I've heard. [/QUOTE]
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Teamsters Applaud Treasury Decision to Deny CSPF Cuts, Protect Retiree Pensions
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