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UPS Discussions
UPS/IBT pension funding
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<blockquote data-quote="35years" data-source="post: 2814388" data-attributes="member: 60822"><p>The new annual statement has been published.</p><p></p><p>The fund continues to slide, and the slide is accelerating.</p><p></p><p><strong>Using the standard accounting methods</strong>...</p><p>-As of the last published report (December 31, 2016)<strong> the UPS/IBT fund had a Funding Shortfall of</strong> <strong>$1,949,988,961</strong></p><p><strong> - Now funded at 70.68%</strong> down from 76% in 2015 and 79% in 2014.</p><p></p><p> -The shortfall of <strong>$2 Billion</strong> is now nearly twice what it was 2 years ago.</p><p></p><p>Was there not language that UPS would keep the fund near 100% funded?</p><p>If not, this needs to be addressed in this contract cycle.</p><p>This pension was to rescue us from the demise of the Central States fund, not mimic it.</p><p></p><p>Bug or anyone else, is this even being discussed???????</p><p></p><p></p><p></p><p></p><p><strong></strong></p><p><strong></strong></p></blockquote><p></p>
[QUOTE="35years, post: 2814388, member: 60822"] The new annual statement has been published. The fund continues to slide, and the slide is accelerating. [B]Using the standard accounting methods[/B]... -As of the last published report (December 31, 2016)[B] the UPS/IBT fund had a Funding Shortfall of[/B] [B]$1,949,988,961 - Now funded at 70.68%[/B] down from 76% in 2015 and 79% in 2014. -The shortfall of [B]$2 Billion[/B] is now nearly twice what it was 2 years ago. Was there not language that UPS would keep the fund near 100% funded? If not, this needs to be addressed in this contract cycle. This pension was to rescue us from the demise of the Central States fund, not mimic it. Bug or anyone else, is this even being discussed??????? [B] [/B] [/QUOTE]
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