Home
Forums
New posts
Search forums
What's new
New posts
Latest activity
Members
Current visitors
Log in
Register
What's new
Search
Search
Search titles only
By:
New posts
Search forums
Menu
Log in
Register
Install the app
Install
Home
Forums
Brown Cafe UPS Forum
UPS Union Issues
What if Ups buys out Teamsters/Central States Pension woo`s?
JavaScript is disabled. For a better experience, please enable JavaScript in your browser before proceeding.
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an
alternative browser
.
Reply to thread
Message
<blockquote data-quote="barking dog" data-source="post: 203729" data-attributes="member: 10253"><p>I just joined this thread today but have been following some of the central states pension issue through other sources. It appears that the negotiations committee (UPS and IBT) have tentatively agreed to the UPS buy out from the central states and the reported cost is $4 billion. On the surface and from APWA would led one to believe this sounds like a good deal the UPS'ers because of the spin "all contributions from UPS go to UPS". Now with that said I would ask - is there going to be a system to allow the transfer of earned pension benefits for anyone that leaves the employ of UPS prior to their retirement date or is this going to be a UPS ONLY company pension. Is it going to be calssified as a single employer pension and then be governed under the federal laws that would permit PGBC under any future chapter 11 proceedings like what happened to the airlines? What happens to the UPS'er that can not finish their career due to health problems and falls short of the 20/25 or 30 years? Can they take their earned credits to another place of employmentand continue their pension? Also I am curious to know if anyone has heard what will happen to the part timers plan? The central states reached a "reproicity agreement" with UPS for part timers several years ago that gave them central states credit for their part time years. What will happen to this?</p></blockquote><p></p>
[QUOTE="barking dog, post: 203729, member: 10253"] I just joined this thread today but have been following some of the central states pension issue through other sources. It appears that the negotiations committee (UPS and IBT) have tentatively agreed to the UPS buy out from the central states and the reported cost is $4 billion. On the surface and from APWA would led one to believe this sounds like a good deal the UPS'ers because of the spin "all contributions from UPS go to UPS". Now with that said I would ask - is there going to be a system to allow the transfer of earned pension benefits for anyone that leaves the employ of UPS prior to their retirement date or is this going to be a UPS ONLY company pension. Is it going to be calssified as a single employer pension and then be governed under the federal laws that would permit PGBC under any future chapter 11 proceedings like what happened to the airlines? What happens to the UPS'er that can not finish their career due to health problems and falls short of the 20/25 or 30 years? Can they take their earned credits to another place of employmentand continue their pension? Also I am curious to know if anyone has heard what will happen to the part timers plan? The central states reached a "reproicity agreement" with UPS for part timers several years ago that gave them central states credit for their part time years. What will happen to this? [/QUOTE]
Insert quotes…
Verification
Post reply
Home
Forums
Brown Cafe UPS Forum
UPS Union Issues
What if Ups buys out Teamsters/Central States Pension woo`s?
Top