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 Retirement Topics
UPS offer on the Table for takeover of Central States fund !
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="Bill" data-source="post: 196502" data-attributes="member: 5483"><p>In case you are wondering, I am still here reading all the information before coming to conclusions as many of you do. It appears that UPS wants to buy out of Central States so that its employees can receive what we are due. UPS is tired of contributing more and more each year, but their workers receive less and less. It doesn't make much financial sense. Do you agree? If the Teamsters continue on their present course of running/sinking (you choose) the pension fund, the insurance fund will kick in in a few years, and we all will receive a measly $1000 for our retirement after working 30 years or longer. One of the Trustees of the pension fund has stated in writing that the CS pension fund can not be fixed. You can verify this information on another thread on this forum.. Also, I have a document from the CS annual report saying that administration fees for 2005 were $120,123,218. Would you agree that this is beyond excessive? Are the Teamsters grabbing a nice piece of the pie for themselves? That is only for the pension plan. The Teamsters took an additional $62,070,842 in administration fees for the Health and Welfare benefits. It looks as if the only ones receiving benefits are the fat cats who run the Teamsters.</p></blockquote><p></p>
[QUOTE="Bill, post: 196502, member: 5483"] In case you are wondering, I am still here reading all the information before coming to conclusions as many of you do. It appears that UPS wants to buy out of Central States so that its employees can receive what we are due. UPS is tired of contributing more and more each year, but their workers receive less and less. It doesn't make much financial sense. Do you agree? If the Teamsters continue on their present course of running/sinking (you choose) the pension fund, the insurance fund will kick in in a few years, and we all will receive a measly $1000 for our retirement after working 30 years or longer. One of the Trustees of the pension fund has stated in writing that the CS pension fund can not be fixed. You can verify this information on another thread on this forum.. Also, I have a document from the CS annual report saying that administration fees for 2005 were $120,123,218. Would you agree that this is beyond excessive? Are the Teamsters grabbing a nice piece of the pie for themselves? That is only for the pension plan. The Teamsters took an additional $62,070,842 in administration fees for the Health and Welfare benefits. It looks as if the only ones receiving benefits are the fat cats who run the Teamsters. [/QUOTE]
Insert quotes…
Verification
Post reply
Home
Forums
Brown Cafe UPS Forum
UPS Retirement Topics
UPS offer on the Table for takeover of Central States fund !
Top