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Brown Cafe UPS Forum
UPS Retirement Topics
The truth about the new UPS/IBT pension plan
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<blockquote data-quote="tieguy" data-source="post: 264712" data-attributes="member: 1912"><p><span style="color: blue">You're partially right in that this was one of the lines of misinformation spread around. There were no social security penalties in the offer. But then we can argue that one to the end because the teamster leadership at the time would not present our offer to the members back then. </span></p><p> </p><p><span style="color: #0000ff">One thing I wonder about is if the 97 offer put more pressure on the CS plan. If you remember UPS offered a private co-administered pension plan that paid 3000 a month. Many pension plans then suddenly raised their payout levels to match what UPS was offering. CS was one of them. In hindsight it appears CS over extended or over spent their means at the time.</span></p></blockquote><p></p>
[QUOTE="tieguy, post: 264712, member: 1912"] [COLOR=blue]You're partially right in that this was one of the lines of misinformation spread around. There were no social security penalties in the offer. But then we can argue that one to the end because the teamster leadership at the time would not present our offer to the members back then. [/COLOR] [COLOR=#0000ff]One thing I wonder about is if the 97 offer put more pressure on the CS plan. If you remember UPS offered a private co-administered pension plan that paid 3000 a month. Many pension plans then suddenly raised their payout levels to match what UPS was offering. CS was one of them. In hindsight it appears CS over extended or over spent their means at the time.[/COLOR] [/QUOTE]
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The truth about the new UPS/IBT pension plan
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