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Union Pension too dependent on brown?
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<blockquote data-quote="Sissy Brown Short Shorts" data-source="post: 5230726" data-attributes="member: 67435"><p>If my understanding is correct before the trucking industry was deregulated in the 80s basically every trucking company paid into a massive union pension pot. The deregulation led to a lot of these companies going under and only a handful survived. Then these huge trucking companies were paying for pensions for union members that were never employed by them in the first place. UPS got out of that with having their own pension (managed by the union) and master agreement, but the union takes UPS’s money that’s supposed to go into our pension plan and uses it to fund old ones anyways (basing that off a local union issue we had years ago) UPS has the money to fund it but the union squanders it. Our pension plan last time I looked was insolvent in 2024. Honestly I’d rather have a company run pension plan. UPS shouldn’t have to fund other people’s pensions when they don’t work for them. I act as though I won’t have a pension or social security. I put 15% of my pay into 401k and Roth IRA. I may be wrong or partially wrong on that info, that’s just what I’ve made sense of bits and pieces of info I’ve gotten over the years.</p></blockquote><p></p>
[QUOTE="Sissy Brown Short Shorts, post: 5230726, member: 67435"] If my understanding is correct before the trucking industry was deregulated in the 80s basically every trucking company paid into a massive union pension pot. The deregulation led to a lot of these companies going under and only a handful survived. Then these huge trucking companies were paying for pensions for union members that were never employed by them in the first place. UPS got out of that with having their own pension (managed by the union) and master agreement, but the union takes UPS’s money that’s supposed to go into our pension plan and uses it to fund old ones anyways (basing that off a local union issue we had years ago) UPS has the money to fund it but the union squanders it. Our pension plan last time I looked was insolvent in 2024. Honestly I’d rather have a company run pension plan. UPS shouldn’t have to fund other people’s pensions when they don’t work for them. I act as though I won’t have a pension or social security. I put 15% of my pay into 401k and Roth IRA. I may be wrong or partially wrong on that info, that’s just what I’ve made sense of bits and pieces of info I’ve gotten over the years. [/QUOTE]
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