UPS says it contributes to 21 multi-employer, defined benefit, pension funds on behalf of its Teamsters-represented employees. Some claim UPS and UPSers are subsidizing retirees of other companies, especially companies that have gone out of business, so that UPSers are only geting back in retirement benefits 40% of what they paid in. Can any one cite me specific clauses in the official Rules & Regulations of the various plan documents that legally require this alledged subsidy, or permit it, or at least provide ambiguous language that would allow such subsidies to take place? For the subsidies to happen, there must be a legal basis, and that basis must be spelled out in the Rules, probably with accompaning benefit tables containing the particulars. And which non-UPS retirees exactly are we subsidizing? Certainly not those who "retire" prior to being vested. They don't get any retirement benefits period. Is it those who "retire" early but can't collect benefits until "Normal Retirement Age?" Here in the New England Fund that's age 64. These retirees had their benefit calculated the day they "retired" and the purchasing power of their frozen amount has been diminished by inflation for all the years until they finally get their first check at age 64, assuming they or their surviving spouse are still alive. Some retirees only qualify for small benefit checks anyway, or only collect checks for a short time. Are they the ones consuming the lion's share of UPSer's pension fund contributions? How about retirees who's careers are abruptly cut short by their employer going out of business? If they are fortunate to at least be vested, don't they have to settle for reduced pensions, or pensions payable at (much?) later dates because they lack sufficient years of Contributory Credits? How about those who don't stop working just because their employer went bankrupt, and go out and get another job with another employer who contributes to the same pension plan? Indeed, what's the big difference between a UPSer with, say, thirty years of Contributory Pension Credit, all from one company, and some unlucky non-UPSer who has the same thirty years credit, albeit with two, or more, companies, as he keeps getting new jobs as fast as his existing employers go belly up? What about those who work for companies that contribute at a lesser rate? Isn't that taken into account by the funds, so that they get lower benefits accordingly? I don't deny there is some subsidy going on, It's unavoidable in such collectivist programs. Or that some Teamster funds are in (big?) trouble. Or that our benefit levels are inadequate. I just want someone to explain specifically how the subsidies operate and how you arrive at your estimate of their magnitude. Please be as specific as possible. Thanks. Now excuse me as I enjoy Labor Day by watching this very interesting video clip about UPS drivers . . .