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Brown Cafe UPS Forum
UPS Union Issues
Yes or NO on NEW CONTRACT?
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<blockquote data-quote="GuyinBrown" data-source="post: 265801" data-attributes="member: 9444"><p>That is incorrect and has been explained in a couple of different places on this board. </p><p></p><p></p><p></p><p>You're right about that at least. </p><p></p><p>If this contract passes, UPS is assuming full responsibility for your pension. At age 65, CS will begin to relieve some of that burden from UPS with the money you have accumulated in the Central States fund. However, your pension is still guaranteed by UPS. The portion that you draw from CS is called an "offset". As stated in the contract....</p><p></p><p><span style="color: Blue">"If the benefit paid from the CS Plan is reduced as</span></p><p><span style="color: Blue">permitted or required by law, the amount of such reduction shall not be included in this offset."<span style="color: Black"></span></span></p><p><span style="color: Blue"><span style="color: Black"></span></span></p><p><span style="color: Blue"><span style="color: Black">Thus, any reduction by Central States will not affect the total amount you receive. If a reduction "shall not be included in the offset", then it cannot change the amount of your pension. </span></span></p><p><span style="color: Blue"><span style="color: Black"></span></span></p></blockquote><p></p>
[QUOTE="GuyinBrown, post: 265801, member: 9444"] That is incorrect and has been explained in a couple of different places on this board. You're right about that at least. If this contract passes, UPS is assuming full responsibility for your pension. At age 65, CS will begin to relieve some of that burden from UPS with the money you have accumulated in the Central States fund. However, your pension is still guaranteed by UPS. The portion that you draw from CS is called an "offset". As stated in the contract.... [COLOR=Blue]"If the benefit paid from the CS Plan is reduced as permitted or required by law, the amount of such reduction shall not be included in this offset."[COLOR=Black] Thus, any reduction by Central States will not affect the total amount you receive. If a reduction "shall not be included in the offset", then it cannot change the amount of your pension. [/COLOR][/COLOR] [/QUOTE]
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Yes or NO on NEW CONTRACT?
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