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Brown Cafe UPS Forum
UPS Union Issues
Worst part of contract
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<blockquote data-quote="chevyman" data-source="post: 255127" data-attributes="member: 390"><p>bear123, UPS is not in the red. The Central States fund that UPS contributes to in behalf of its employees is in the red ( i've seen estimates around 47% or 50%). UPS wants to be relieved of having to contribute to that plan because it is a multi-employer pension fund. A fund that for every dollar paid into that fund only 40 cents actually goes to a UPS employee. The other 60 cents goes to support say retirees whose company has been out of business for 5,10, or 20 years. By making a one- time dump into the CS fund UPS can walk away. From that point on UPS never has to pay into that fund again and gets to create a new fund for its own employees. I do disagree with some of these other posts because we have already had our meeting at our union hall. They way they explained it if this contract passes you will receive one check from the new plan, taking into account for all time, both part-time and full time under the CS plan. The one-time payment into the CS plan by UPS and never having to pay on behalf of its 44,000 or so members of that plan will strengthen the CS plan. Maybe others can add to the answer you are looking for.</p></blockquote><p></p>
[QUOTE="chevyman, post: 255127, member: 390"] bear123, UPS is not in the red. The Central States fund that UPS contributes to in behalf of its employees is in the red ( i've seen estimates around 47% or 50%). UPS wants to be relieved of having to contribute to that plan because it is a multi-employer pension fund. A fund that for every dollar paid into that fund only 40 cents actually goes to a UPS employee. The other 60 cents goes to support say retirees whose company has been out of business for 5,10, or 20 years. By making a one- time dump into the CS fund UPS can walk away. From that point on UPS never has to pay into that fund again and gets to create a new fund for its own employees. I do disagree with some of these other posts because we have already had our meeting at our union hall. They way they explained it if this contract passes you will receive one check from the new plan, taking into account for all time, both part-time and full time under the CS plan. The one-time payment into the CS plan by UPS and never having to pay on behalf of its 44,000 or so members of that plan will strengthen the CS plan. Maybe others can add to the answer you are looking for. [/QUOTE]
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Worst part of contract
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