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Brown Cafe UPS Forum
UPS Retirement Topics
What would happen to our pensions with a dissolving of a Teamster/UPS contract?
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<blockquote data-quote="qdg2" data-source="post: 5570942" data-attributes="member: 100309"><p>The way I see it...</p><p></p><p>We have folks on here that say your money is "locked in".....even in bankruptcy....into perpetuity(generalizing)".</p><p></p><p>With all respect.....that just isn't so. The exact opposite is happening. Happens.</p><p></p><p>How in the world if a company doesn't exist.....does a fund keep going?</p><p></p><p>Now, normal retirement age being 62 and life expectancy 72.....who knows. But if a defined benefit ends on the companies side, and the liabilities have a finite end.....it might work out for the remaining recipients. Such as ending a pension for a 401k. IDK.</p><p></p><p>And the wizards that think they know.....lol.</p></blockquote><p></p>
[QUOTE="qdg2, post: 5570942, member: 100309"] The way I see it... We have folks on here that say your money is "locked in".....even in bankruptcy....into perpetuity(generalizing)". With all respect.....that just isn't so. The exact opposite is happening. Happens. How in the world if a company doesn't exist.....does a fund keep going? Now, normal retirement age being 62 and life expectancy 72.....who knows. But if a defined benefit ends on the companies side, and the liabilities have a finite end.....it might work out for the remaining recipients. Such as ending a pension for a 401k. IDK. And the wizards that think they know.....lol. [/QUOTE]
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What would happen to our pensions with a dissolving of a Teamster/UPS contract?
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