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UPS Union Issues
What is the UPS end game with the current health care proposal?
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<blockquote data-quote="beentheredonethat" data-source="post: 1094477" data-attributes="member: 4886"><p>Pensions should be run so that money comes in for that employee from the empoyer, it is pooled and invested so that averages can take over. By that I mean, some people will die early, some people will live a very very long time. Statistics when talking about a single person's life span is not accurate at all. However, with a large group of people, statistics are incredibly accurate knowing the average age a person will live to. So by pooling a large group of people together you can know very accurately the average age, and therefore the average known amount of time a pension has to pay out for the folks covered. Based on that, the folks who run the pension can determine the amount of money coming in, for how long and the anticipated rate of return. That in turn can determine how much they can pay people. If run correctly even if every company went out of business and stopped contributing, all the promised benefits could still be paid out to those retired, (and about to retire). By stating that the reason is due to lower number of workers, means they ran it like a ponzi scheme. ala Bernie Madoff. (or the govt).</p></blockquote><p></p>
[QUOTE="beentheredonethat, post: 1094477, member: 4886"] Pensions should be run so that money comes in for that employee from the empoyer, it is pooled and invested so that averages can take over. By that I mean, some people will die early, some people will live a very very long time. Statistics when talking about a single person's life span is not accurate at all. However, with a large group of people, statistics are incredibly accurate knowing the average age a person will live to. So by pooling a large group of people together you can know very accurately the average age, and therefore the average known amount of time a pension has to pay out for the folks covered. Based on that, the folks who run the pension can determine the amount of money coming in, for how long and the anticipated rate of return. That in turn can determine how much they can pay people. If run correctly even if every company went out of business and stopped contributing, all the promised benefits could still be paid out to those retired, (and about to retire). By stating that the reason is due to lower number of workers, means they ran it like a ponzi scheme. ala Bernie Madoff. (or the govt). [/QUOTE]
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What is the UPS end game with the current health care proposal?
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