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Brown Cafe UPS Forum
UPS Union Issues
Worst part of contract
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<blockquote data-quote="Bustrbyte" data-source="post: 255020" data-attributes="member: 5322"><p>Guyinbrown -you say; In order to get out, they must pay money upfront to bring the plan funding to a level that would maintain current benefit.</p><p></p><p>It is my understanding they have to pay their unfunded liability for their employees. This goes into the fund and is not set aside for their employees. A lot have said UPS cut a deal with CS but it's a legal deal. If a CO pays the unfunded liability they have to let them out, pending if union, their employees accept. </p><p> There will continue to be more companies leave the fund just as they have in the past for various reasons without paying. The worst part is the employee to retiree ratio will continue to get worse. Another big one like CF going under would really be bad.</p></blockquote><p></p>
[QUOTE="Bustrbyte, post: 255020, member: 5322"] Guyinbrown -you say; In order to get out, they must pay money upfront to bring the plan funding to a level that would maintain current benefit. It is my understanding they have to pay their unfunded liability for their employees. This goes into the fund and is not set aside for their employees. A lot have said UPS cut a deal with CS but it's a legal deal. If a CO pays the unfunded liability they have to let them out, pending if union, their employees accept. There will continue to be more companies leave the fund just as they have in the past for various reasons without paying. The worst part is the employee to retiree ratio will continue to get worse. Another big one like CF going under would really be bad. [/QUOTE]
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Worst part of contract
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