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Brown Cafe UPS Forum
UPS Union Issues
tentative contract now online
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<blockquote data-quote="GuyinBrown" data-source="post: 252668" data-attributes="member: 9444"><p>I believe you are mistaken. I think that the term has gotten twisted around and it's distorted people's perceptions of what actually occurred. My understanding is that UPS did not "buy us out" of Central States, it payed a "withdawal penalty". Any money accumulated in the Central States plan stays with Central States and any new money contributed as of Jan 1st 2008 would begin accumulating in the new UPS/IBT plan. I do not state this as absolute fact, ( in fact I hope I'm wrong ) but that's what I've gotten out of the discussions over the last couple months. When we retire, we'd be looking at 2 separate checks... One from Central States and one from UPS.</p></blockquote><p></p>
[QUOTE="GuyinBrown, post: 252668, member: 9444"] I believe you are mistaken. I think that the term has gotten twisted around and it's distorted people's perceptions of what actually occurred. My understanding is that UPS did not "buy us out" of Central States, it payed a "withdawal penalty". Any money accumulated in the Central States plan stays with Central States and any new money contributed as of Jan 1st 2008 would begin accumulating in the new UPS/IBT plan. I do not state this as absolute fact, ( in fact I hope I'm wrong ) but that's what I've gotten out of the discussions over the last couple months. When we retire, we'd be looking at 2 separate checks... One from Central States and one from UPS. [/QUOTE]
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tentative contract now online
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