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UPS Pressroom News
UPS, Teamsters to Restructure New England Pension Plan
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<blockquote data-quote="Sammy" data-source="post: 1014707" data-attributes="member: 43076"><p>For UPS, this structure allows the company to freeze its liability in the original pool<p style="text-align: left"><span style="color: #000000"></span></p> <p style="text-align: left"><span style="color: #000000">If you have 30 years of service on September 15, 2012 you will retire under the original pool of pension assets. That pool is 46% funded and is in critical condition. How long before the original pool has no more assets to pay out since (<span style="color: #ff0000"> For UPS, this structure allows the company to freeze its liability in the original pool</span>) UPS will no longer be legally liable for pension obligations under the old pool. </span></p> <p style="text-align: left"><span style="color: #000000">If I started today at UPS I would be more certain of my future pension. This sounds good for new employees but not good for employees ready to retire.</span></p> <p style="text-align: left"><span style="color: #000000">I may be wrong but that is how I read the press release.</span></p><p style="text-align: left"><span style="color: #000000"><span style="color: #000000"></span></p></span></p><p style="text-align: left"><span style="color: #000000"><span style="color: #000000"></span></p></span></p><p style="text-align: left"><span style="color: #000000"><span style="color: #000000"></span></p></p> <p style="text-align: left"></span></p></blockquote><p></p>
[QUOTE="Sammy, post: 1014707, member: 43076"] For UPS, this structure allows the company to freeze its liability in the original pool[LEFT][COLOR=#000000] If you have 30 years of service on September 15, 2012 you will retire under the original pool of pension assets. That pool is 46% funded and is in critical condition. How long before the original pool has no more assets to pay out since ([COLOR=#ff0000] For UPS, this structure allows the company to freeze its liability in the original pool[/COLOR]) UPS will no longer be legally liable for pension obligations under the old pool. If I started today at UPS I would be more certain of my future pension. This sounds good for new employees but not good for employees ready to retire. I may be wrong but that is how I read the press release. [LEFT][COLOR=#000000] [/COLOR][/LEFT] [/COLOR][/LEFT] [/QUOTE]
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UPS, Teamsters to Restructure New England Pension Plan
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