Home
Forums
New posts
Search forums
What's new
New posts
Latest activity
Members
Current visitors
Log in
Register
What's new
Search
Search
Search titles only
By:
New posts
Search forums
Menu
Log in
Register
Install the app
Install
Home
Forums
Brown Cafe UPS Forum
UPS Union Issues
Things to look at if your in New England or Central States !
JavaScript is disabled. For a better experience, please enable JavaScript in your browser before proceeding.
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an
alternative browser
.
Reply to thread
Message
<blockquote data-quote="wildgoose" data-source="post: 133601" data-attributes="member: 5428"><p>The Central States Fund and the New England Fund will very likely be in the “Yellow Zone” (also called endangered status) because they are less than 80 percent funded. A Yellow Zone Fund must develop a funding improvement plan. The union can bargain over its terms, so union leadership is critical to protecting members’ interests.</p><p>In the case of Central States, the law actually provides some protection, in a strange way: <em>the union trustees have already agreed to huge cuts in pension accrual, down to one percent of contributions. The law provides that no fund can ever pay less, so it is already at the legal minimum.</em></p><p></p><p>Also, a plan in the Yellow Zone cannot raise benefits until its funding level improves. This makes it critically important to bargain increased employer contributions, bringing part-time UPSers and UPS Freight into the Central States Fund, and to step up organizing as well. </p><p></p><p>A strong bargaining plan in the national contracts will be an important factor in ending pension accrual cuts, providing medical coverage to retirees, and protecting our pension plans. The other key is leadership from union trustees, who hold 50 percent control of the funds. Teamster trustees wield 50 percent control of the fund but have not used their authority to counter employers and defend members from benefit reductions.</p></blockquote><p></p>
[QUOTE="wildgoose, post: 133601, member: 5428"] The Central States Fund and the New England Fund will very likely be in the “Yellow Zone” (also called endangered status) because they are less than 80 percent funded. A Yellow Zone Fund must develop a funding improvement plan. The union can bargain over its terms, so union leadership is critical to protecting members’ interests. In the case of Central States, the law actually provides some protection, in a strange way: [I]the union trustees have already agreed to huge cuts in pension accrual, down to one percent of contributions. The law provides that no fund can ever pay less, so it is already at the legal minimum.[/I] Also, a plan in the Yellow Zone cannot raise benefits until its funding level improves. This makes it critically important to bargain increased employer contributions, bringing part-time UPSers and UPS Freight into the Central States Fund, and to step up organizing as well. A strong bargaining plan in the national contracts will be an important factor in ending pension accrual cuts, providing medical coverage to retirees, and protecting our pension plans. The other key is leadership from union trustees, who hold 50 percent control of the funds. Teamster trustees wield 50 percent control of the fund but have not used their authority to counter employers and defend members from benefit reductions. [/QUOTE]
Insert quotes…
Verification
Post reply
Home
Forums
Brown Cafe UPS Forum
UPS Union Issues
Things to look at if your in New England or Central States !
Top