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UPS Union Issues
Viewpoints for new contract, what's in-store?
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<blockquote data-quote="Inthegame" data-source="post: 2860068" data-attributes="member: 37112"><p>Not sure if any fund weathered the meltdown "just fine".</p><p>Good to see Monday morning quarterbacking is still alive and well.</p><p></p><p>The CSPF was bleeding and UPS was willing to pony up 6.3 billion to a fund that needed cash. After the UPS withdrawal liability was paid, CSPF was certified green zone. As fiduciaries, the trustees were put in a difficult position of predicting the future. Like most investors, they were wrong.</p><p></p><p>And now because of their declining principal, CSPF is forced to take additional risks other plans avoid. Even so, the CSPF has (and continues to have) ROI in the top 25% of pension plans.</p><p></p><p>Had the meltdown not happened, that cash could have returned the plan to solvency, protecting many UPSers and others.</p><p></p><p>While markets always fluctuate, few predicted the extent of 2008.</p><p> </p><p>The CSPF was a victim of bad timing in 2008 and bad decisions in the late 90's by granting service pensions for all.</p></blockquote><p></p>
[QUOTE="Inthegame, post: 2860068, member: 37112"] Not sure if any fund weathered the meltdown "just fine". Good to see Monday morning quarterbacking is still alive and well. The CSPF was bleeding and UPS was willing to pony up 6.3 billion to a fund that needed cash. After the UPS withdrawal liability was paid, CSPF was certified green zone. As fiduciaries, the trustees were put in a difficult position of predicting the future. Like most investors, they were wrong. And now because of their declining principal, CSPF is forced to take additional risks other plans avoid. Even so, the CSPF has (and continues to have) ROI in the top 25% of pension plans. Had the meltdown not happened, that cash could have returned the plan to solvency, protecting many UPSers and others. While markets always fluctuate, few predicted the extent of 2008. The CSPF was a victim of bad timing in 2008 and bad decisions in the late 90's by granting service pensions for all. [/QUOTE]
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