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Brown Cafe UPS Forum
UPS Union Issues
Why vote yes on a supplement and no on the master?
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<blockquote data-quote="DELACROIX" data-source="post: 3745394" data-attributes="member: 49065"><p>The NE Teamster's fund is currently underfunded by 1.6 billion, I believe that UPS paid out of it in 2012 (1.2 Billion) and created a Hybrid Plan similar to what they did in the Central back in 2008. Your liability issue is fixable and you should vote your Supplement in if it is a plus.</p><p></p><p>The remaining problem would be the Massive Central with it's 17.2 billion future liabilities. The PBGC federal insurance program is projected to run out of funds in 2025..The Central is projected to collapse around the same time or sooner. </p><p></p><p>Currently the markets are going bananas just look at your 401k plan. All pension trusts are invested in the markets and other securities if this trend continues it will help every pension plan nationwide. Even with that the Central is still in a "Dead Man Walking" situation, unless somehow the Feds can figure out a deal. </p><p></p><p>Nobody (the Union, UPS and the PBGC) wants to be holding the bag and being responsible, it is that big of an issue and problem..</p></blockquote><p></p>
[QUOTE="DELACROIX, post: 3745394, member: 49065"] The NE Teamster's fund is currently underfunded by 1.6 billion, I believe that UPS paid out of it in 2012 (1.2 Billion) and created a Hybrid Plan similar to what they did in the Central back in 2008. Your liability issue is fixable and you should vote your Supplement in if it is a plus. The remaining problem would be the Massive Central with it's 17.2 billion future liabilities. The PBGC federal insurance program is projected to run out of funds in 2025..The Central is projected to collapse around the same time or sooner. Currently the markets are going bananas just look at your 401k plan. All pension trusts are invested in the markets and other securities if this trend continues it will help every pension plan nationwide. Even with that the Central is still in a "Dead Man Walking" situation, unless somehow the Feds can figure out a deal. Nobody (the Union, UPS and the PBGC) wants to be holding the bag and being responsible, it is that big of an issue and problem.. [/QUOTE]
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Why vote yes on a supplement and no on the master?
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