Anyone with time in Central States should vote no !!!

[browned out]

Asking to see a regional supplement that has already been completed is not a petty demand.

The foundation would be that the union is urging a yes vote on an agreement we have not yet seen.

Do not waste our union dues sending out propaganda threatening that we had better vote yes.

The Central States Supplement is complete. Why not post it on the Teamsters Package Division section of the Teamsters website? Why not post it on the UPS rising app?

 

[Brownslave688]

UPS can try and wiggle all they want.

They are still on the hook.... by virtue of the contractual language.

And they'll get that language changed as soon as them having to pay becomes a reality.

There's simply no way ups is going to make up the entire difference when they already paid their way out.

 

[Bubblehead]

You're reading it wrong.


Trust me.... I was there at the 2-man committee in 2007.

The IBT allowing UPS to pay their withdraw liability and start their own pension fund

was contingent on them picking up the tab if Central States defaults.



-Bug-

UPS can try and wiggle all they want.

They are still on the hook.... by virtue of the contractual language.

Aside from the obvious possibility that this "guarantee" can disappear every time that our collective bargaining agreement is renegotiated, we also need to be leery of the Kline-Miller Multiemployer Pension Reform Act and it's provisions that could allow UPS to challenge their contractual obligations if any cuts do not follow a strict script.

UPS spent an enormous amount of money lobbying in the months and years leading up to the implementation of this legislation, shaping much of the language within, before it was whisked through as a result of being attached to the Omnibus Budget Bill of 2015, in late 2014.

I won't count on having my pension as it's advertised until the ink is dry on my retirement papers and Central States is inevitably deemed completely insolvent.

Make no mistake, UPS is desperately looking for a way out of this guarantee, as they never imagined the huge liability attached after paying the $6 billion plus withdraw liability, a sum they sure figured would stretch Central States out until most of us with skin in the game died off.




~Bbbl~™

 

[john chesney]

How are we going to get shafted.... when the language you posted says different ?





No.





It's been in the Master since 2008.

That's what protects us, if Central States defaults. Then UPS foots the entire bill.



-Bug-

I’ve seen that language and I’ll take your word for it. I would of liked it the way you wrote it “If central states defaults ups picks up entire bill”

 

[jagger john]

I believe we’re gonna get shafted when we turn 65 !!

im in cetrall states to 32 year diver i agree we need it in stone or they will screw us how do you like no pension raise till 2020 we get 3400 for 30 years at 55 1600.00 below what we should be getting vote noooooooooooooooooooooooooooo

 

[BigUnionGuy]

im in cetrall states to 32 year diver i agree we need it in stone or they will screw us how do you like no pension raise till 2020 we get 3400 for 30 years at 55 1600.00 below what we should be getting vote noooooooooooooooooooooooooooo

Solid case....

To increase funding for public schools.

 

[Brownslave688]

im in cetrall states to 32 year diver i agree we need it in stone or they will screw us how do you like no pension raise till 2020 we get 3400 for 30 years at 55 1600.00 below what we should be getting vote noooooooooooooooooooooooooooo

For the 800th time how do you propose they increase the payout with an underfunded pension?

 

[542thruNthru]

For the 800th time how do you propose they increase the payout with an underfunded pension?

Because he wants his and screw everyone else.

 

[browned out]

For the 800th time how do you propose they increase the payout with an underfunded pension?

The UPS pension fund is above 95% funded. UPS can afford to increase the pension amounts now.

 

[Brownslave688]

The UPS pension fund is above 95% funded. UPS can afford to increase the pension amounts now.

Central states is is what 40%. Mjne is over 100% but i would like them to hold off til after a downturn to increase it

 

[jagger john]

For the 800th time how do you propose they increase the payout with an underfunded pension?

yea reason it is under funded is because ups is under funding it they pay more we get more.and this contract is not putting in but 1970 pension raise

 

[BigUnionGuy]

yea reason it is under funded is because ups is under funding it they pay more we get more.and this contract is not putting in but 1970 pension raise

Kids....

Don't do drugs.

 

[Brownslave688]

yea reason it is under funded is because ups is under funding it they pay more we get more.and this contract is not putting in but 1970 pension raise

Do you know how much ups puts in the pension on your behalf?


It's over $400 a week here.

 

[RealPerson]

Do you know how much ups puts in the pension on your behalf?


It's over $400 a week here.

Well I seen a video if True, they put a ton of $$$, so my question, where is all that money? Some people quit, get fired and never collect... Just saying.

 

[onehandsolo]

For what it is worth. In one of the recent earnings conference calls the company did mention a possible one time 6 billion dollar pension liability due to the central states fund being underfunded.

 

[brown_trousers]

(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)

What if the pension goes under for some reason "not permitted by law" in the future? That would not qualify under that clause. Would UPS be off the hook?

 

[Inthegame]

What if the pension goes under for some reason "not permitted by law" in the future? That would not qualify under that clause. Would UPS be off the hook?

You're talking bankruptcy which is a legal status, hence permitted by law.

 

[Delivered]

yea reason it is under funded is because ups is under funding it they pay more we get more.and this contract is not putting in but 1970 pension raise

It doesn't take a degree in Finance or Economics to understand why CSPF has failed.

 

[BigUnionGuy]

It doesn't take a degree in Finance or Economics to understand why CSPF has failed.

Deregulation of the trucking industry.... starting in 1980.

 

[Delivered]

Deregulation of the trucking industry.... starting in 1980.

Followed by the failure of the IBT to organize companies in the 90's and place them into CS