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UPS Retirement Topics
UPS offer on the Table for takeover of Central States fund !
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<blockquote data-quote="JonFrum" data-source="post: 198432"><p><strong>Re: "Beyond Repair" . . . Really???</strong></p><p></p><p></p><p></p><p>Brett,</p><p></p><p>Odd as it may seem, a 100% funded fund is not the ideal. A fund needs to be funded as much over 100% as possible, the more the better. What if the stock market slumps, or crashes? All of a sudden that 100% fund is now only, say, 63% funded, just like the Central States fund is today. (Or 47% and headed for oblivion, if you believe Engineer79.)</p><p></p><p>Besides, I doubt it's possible for a UPS fund to survive after UPS closes its doors. You can't just appoint Van and Danny to be caretakers who'll mail out the checks every month. The fund is taken over by the nearly bankrupt PBGC and they administer the paying out of checks. Their schedule of benefit guarantees is no where near what the cheerleaders have been claiming so expect a lot of disapointments in this regard. I suggested earlier to an APWA supporter that they should publish a chart of exactly what levels of PBGC insurance coverage would apply to all the various categories of UPSers in their plan, but they never did it. Such a chart would make clear how few people would get the full level of pension benefit coverage, and how many would get a lot less, or none at all.</p></blockquote><p></p>
[QUOTE="JonFrum, post: 198432"] [b]Re: "Beyond Repair" . . . Really???[/b] Brett, Odd as it may seem, a 100% funded fund is not the ideal. A fund needs to be funded as much over 100% as possible, the more the better. What if the stock market slumps, or crashes? All of a sudden that 100% fund is now only, say, 63% funded, just like the Central States fund is today. (Or 47% and headed for oblivion, if you believe Engineer79.) Besides, I doubt it's possible for a UPS fund to survive after UPS closes its doors. You can't just appoint Van and Danny to be caretakers who'll mail out the checks every month. The fund is taken over by the nearly bankrupt PBGC and they administer the paying out of checks. Their schedule of benefit guarantees is no where near what the cheerleaders have been claiming so expect a lot of disapointments in this regard. I suggested earlier to an APWA supporter that they should publish a chart of exactly what levels of PBGC insurance coverage would apply to all the various categories of UPSers in their plan, but they never did it. Such a chart would make clear how few people would get the full level of pension benefit coverage, and how many would get a lot less, or none at all. [/QUOTE]
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UPS offer on the Table for takeover of Central States fund !
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