If UPS in Atlanta figured out who you were and that you were posting on this forum during working hours you would be in a world of hurt.
Anyone in the 177 get the Critical pension level status letter?
- Thread starter ManInBrown
- Start date
TearsInRain
IE boogeyman
i'm behind 7 proxies
Coldworld
Well-Known Member
Ask monkey butt what happen when he started to get "too big for his britches" on here when he was posting things he shouldn't have and the " talking to" he got from his superiors....
BigUnionGuy
Got the T-Shirt
I'm behind several partners that are no longer on the ups payroll, and have made it possible to move on to another firm.
Coldworld
Well-Known Member
Nice crocheted hat...Tough guy.
TearsInRain
IE boogeyman
you look pretty cute BUG, hope you have a beard waiverTough guy.
i don't know what that means but thanks for sharing i guess
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pickup
Guest
According to the letter I received in the mail, the 2016 Plan Year is funded at 71.2% , 2015 at 70.5%, 2014 at 72.6%.
First off all, what happened in 2015 that the value dropped that much?
Secondly, I remember being at a 177 meeting (about a year ago or less) in which a representative (Actuary?) stated the fund was at about 78 % (memory is a little shaky here, could have been 77%).
Seems to me what the actuary said and what this letter says contradicts each other.
First off all, what happened in 2015 that the value dropped that much?
Secondly, I remember being at a 177 meeting (about a year ago or less) in which a representative (Actuary?) stated the fund was at about 78 % (memory is a little shaky here, could have been 77%).
Seems to me what the actuary said and what this letter says contradicts each other.
Maybe the actuary had up to date pct's rather than year end reports.
Not sure on the L177 plan but the industry has absorbed several mortality table increases (people live longer) which stresses funded pcts. Also many multi employer plans are (prudently) lowering their assumed rate of return which changes forecasts and lowers funding pcts.
Conversely UPS's Plan (a single employer plan) used an 8.75 assumption rate making their plan appear to be over 100% funded. How much you wanna bet they won't hit 8.75 per year for the next 20 years?
One of the few things Congress has done correctly is force plan admins and Trustees to more accurately report pension plans status.
East coast navy
Veteran
I was at the May meeting in 2016... The Acturary never said we are at 78%. He said we are at 70.5%.
Indecisi0n
Well-Known Member
Go to your local union meeting. They explained that and so much more last time.
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pickup
Guest
The only thing that rings a bell with regards to 70.5% was the 7.5% (one decimal point to the left) return the actuary was assuming that the plan would enjoy throughout the coming years.
East coast navy
Veteran
What's kill us is drivers taking days off with out pay...
brownmonster
Man of Great Wisdom
Why? The guy replacing him would have his day go towards the pension.
Whatbrownwontdoforyou
Well-Known Member
Exactly 1 pension day being paid by ups and 2 people collecting pensions for that day
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pickup
Guest
The more dead days you take , the less money you collect or the more days you have to work the make the pension money that you would have made had you not taken the dead days to begin with.
Zero sum game.
Catatonic
Nine Lives
TIR has not revealed his identity as far as I know ... he should be OK.
I got talked to by three different people who are no longer employed by UPS.
navigator
Well-Known Member
Central States letter 4/27/17
Notice of Critical and Declining Status. Same as last year.
2016 Funding. Pension fund has just 42.1% of assets need to fund our current and pending pension obligations.
Plan is projected to be insolvent in 2025.
The PGC's maximum guarantee, therefore, is $ 35.75 per month times a participants years of service.
Notice of Critical and Declining Status. Same as last year.
2016 Funding. Pension fund has just 42.1% of assets need to fund our current and pending pension obligations.
Plan is projected to be insolvent in 2025.
The PGC's maximum guarantee, therefore, is $ 35.75 per month times a participants years of service.
Coldworld
Well-Known Member
No longer employed... what the hell did you do???
Catatonic
Nine Lives
I got even!
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