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UPS Retirement Topics
UPS subsidizing non ups pensions
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<blockquote data-quote="Cezanne" data-source="post: 140955" data-attributes="member: 5104"><p>Of those 17,000 hourly vested in the UPS Pension fund, how many are current full time teamsters now under the Central States plan? Fair to say that most of current UPS participants in the Central States fund started out under the UPS Pension plan for part-timers. Still remember way back in "93" the statement about those who retired under the company plan amounted to only about 380 employees, collecting around 300 per month. People fail to recognize that UPS's attempt to take control on the pension was orginally brought to the table in l993 four years prior to the l997 strike. </p><p> </p><p>What struck me about the jonfrum's information was the difference between the investment manager's commission costs. Whay would there be such a difference considering the number of participants are about the same. Have known for a long time that the company has been contributing about ten times more annually into their pension plan (UPS Retirement Plan) compared to their employees plan (UPS Pension Plan). Maybe the investment costs are related to the greater amount of annual contributions over the years and much larger portfolio. </p><p> </p><p>As far as the stock investment, I believe that there are limits to how much benefit plans can invest in their company stock, thinking off my head it is around 15 percent. The whole Eron fiasco probadly added to more protection legislation under the new pension reform act. Considering how many innocent people were hurt when those corporate clowns started to cook the books, just from skimming the improvements the feds did add more prison time and increased the fines and penalities for corportate criminals who decide to play games.</p></blockquote><p></p>
[QUOTE="Cezanne, post: 140955, member: 5104"] Of those 17,000 hourly vested in the UPS Pension fund, how many are current full time teamsters now under the Central States plan? Fair to say that most of current UPS participants in the Central States fund started out under the UPS Pension plan for part-timers. Still remember way back in "93" the statement about those who retired under the company plan amounted to only about 380 employees, collecting around 300 per month. People fail to recognize that UPS's attempt to take control on the pension was orginally brought to the table in l993 four years prior to the l997 strike. What struck me about the jonfrum's information was the difference between the investment manager's commission costs. Whay would there be such a difference considering the number of participants are about the same. Have known for a long time that the company has been contributing about ten times more annually into their pension plan (UPS Retirement Plan) compared to their employees plan (UPS Pension Plan). Maybe the investment costs are related to the greater amount of annual contributions over the years and much larger portfolio. As far as the stock investment, I believe that there are limits to how much benefit plans can invest in their company stock, thinking off my head it is around 15 percent. The whole Eron fiasco probadly added to more protection legislation under the new pension reform act. Considering how many innocent people were hurt when those corporate clowns started to cook the books, just from skimming the improvements the feds did add more prison time and increased the fines and penalities for corportate criminals who decide to play games. [/QUOTE]
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