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UPS Union Issues
The State of the "Union"
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<blockquote data-quote="InsideUPS" data-source="post: 1095552" data-attributes="member: 31414"><p><span style="font-size: 12px">Hmmmm........you speak highly of your WCT Pension Plan....hope it continues to work out for you....now and in the future. however, not quite the same with Central States Pension Plan...</span></p><p><span style="font-size: 12px"></span></p><p><span style="font-size: 12px"><a href="https://www.tdu.org/news/could-central-states-pension-fund-go-insolvent" target="_blank">https://www.tdu.org/news/could-central-states-pension-fund-go-insolvent</a></span></p><p><span style="font-size: 12px"></span></p><p><span style="font-size: 12px">104Feeder states "<em>Any pension that falls into the PBGC will receive, in most cases, more than 50% just look at these tables</em>:</span></p><p><span style="font-size: 12px"></span><span style="color: #000000"><span style="font-family: 'Verdana'"><strong></strong></span></span></p><p><span style="color: #000000"><span style="font-family: 'Verdana'"><strong><span style="font-size: 12px">The Consequences</span></strong></span></span><span style="color: #000000"><span style="font-family: 'Verdana'"><span style="font-size: 12px">Over 213,000 retirees depend on the fund for their promised retirement after a lifetime of Teamster work. Another 67,000 active members have been promised a pension in the future. <u>If the fund becomes insolvent, Teamsters would be dependent on the Pension Benefit Guaranty Corporation (PBGC), which has a maximum payout per month of $1,080 for a Teamster with 30 years credit.</u></span></span></span></p><p><span style="color: #000000"><span style="font-family: 'Verdana'"><span style="font-size: 12px"></span></span></span></p><p><span style="color: #000000"><span style="font-family: 'Verdana'"><span style="font-size: 12px">Conclusion: NOT ALL Pension Plans are created equal.....not all pension plans are secure...</span></span></span></p></blockquote><p></p>
[QUOTE="InsideUPS, post: 1095552, member: 31414"] [SIZE=3]Hmmmm........you speak highly of your WCT Pension Plan....hope it continues to work out for you....now and in the future. however, not quite the same with Central States Pension Plan... [url]https://www.tdu.org/news/could-central-states-pension-fund-go-insolvent[/url] 104Feeder states "[I]Any pension that falls into the PBGC will receive, in most cases, more than 50% just look at these tables[/I]: [/SIZE][COLOR=#000000][FONT=Verdana][B] [SIZE=3]The Consequences[/SIZE][/B][/FONT][/COLOR][COLOR=#000000][FONT=Verdana][SIZE=3]Over 213,000 retirees depend on the fund for their promised retirement after a lifetime of Teamster work. Another 67,000 active members have been promised a pension in the future. [U]If the fund becomes insolvent, Teamsters would be dependent on the Pension Benefit Guaranty Corporation (PBGC), which has a maximum payout per month of $1,080 for a Teamster with 30 years credit.[/U] Conclusion: NOT ALL Pension Plans are created equal.....not all pension plans are secure...[/SIZE][/FONT][/COLOR] [/QUOTE]
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