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<blockquote data-quote="JonFrum" data-source="post: 133958"><p>You need to read this Federal Court of Appeals decision . . .</p><p>USCA1 Opinion 91-1542</p><p>You will see that the courts are not on your side and there are major hurdles that you must overcome in order to transfer UPS-contributed money out of a Teamsters pension plan. </p><p>The above link is to the Appeal of the original case, which the rank and file UPS reformers also lost. I have a copy of the original decision dated 4-19-1991 Civil Action No. 86-3690-H by Judge Harrington, but it's not available easily on line. I attended the original case in person. It was a real eyeopener. </p><p></p><p>Exerpt from the above link . . .</p><p> UNITED STATES COURT OF APPEALS FOR THE FIRST CIRCUIT No. 91-1542 </p><p>RONALD W. CATERINO, ET AL., Plaintiffs, Appellants,</p><p> v. </p><p>J. LEO BARRY, ET AL., Defendants, Appellees. </p><p></p><p>APPEAL FROM THE UNITED STATES DISTRICT COURT FOR THE DISTRICT OF MASSACHUSETTS</p><p> [Hon. Edward friend. Harrington, U.S. District Judge] </p><p>Before Breyer, Chief Judge, Cyr and Stahl, Circuit Judges.</p><p>November 12, 1993</p><p></p><p>"The Teamsters Pension Fund, being a multi-employer fund, spreads the benefits of such excess contributions among all participants in the Fund. In a single-employer plan, the UPS employees realized, they would not have to share their "excess" with others. And unshared, UPS' $1.66 per hour contribution, as of 1986, could buy pensions of $2600 per month (instead of $900 per month) for UPS employees who retired from UPS service after twenty-five years. Alternatively, UPS, in a single-employer plan, could fund the $900 per month pension for employees retiring after 25 years with a contribution of less than 70 cents (rather than $1.66) for every employee hour worked."</p></blockquote><p></p>
[QUOTE="JonFrum, post: 133958"] You need to read this Federal Court of Appeals decision . . . USCA1 Opinion 91-1542 You will see that the courts are not on your side and there are major hurdles that you must overcome in order to transfer UPS-contributed money out of a Teamsters pension plan. The above link is to the Appeal of the original case, which the rank and file UPS reformers also lost. I have a copy of the original decision dated 4-19-1991 Civil Action No. 86-3690-H by Judge Harrington, but it's not available easily on line. I attended the original case in person. It was a real eyeopener. Exerpt from the above link . . . UNITED STATES COURT OF APPEALS FOR THE FIRST CIRCUIT No. 91-1542 RONALD W. CATERINO, ET AL., Plaintiffs, Appellants, v. J. LEO BARRY, ET AL., Defendants, Appellees. APPEAL FROM THE UNITED STATES DISTRICT COURT FOR THE DISTRICT OF MASSACHUSETTS [Hon. Edward friend. Harrington, U.S. District Judge] Before Breyer, Chief Judge, Cyr and Stahl, Circuit Judges. November 12, 1993 "The Teamsters Pension Fund, being a multi-employer fund, spreads the benefits of such excess contributions among all participants in the Fund. In a single-employer plan, the UPS employees realized, they would not have to share their "excess" with others. And unshared, UPS' $1.66 per hour contribution, as of 1986, could buy pensions of $2600 per month (instead of $900 per month) for UPS employees who retired from UPS service after twenty-five years. Alternatively, UPS, in a single-employer plan, could fund the $900 per month pension for employees retiring after 25 years with a contribution of less than 70 cents (rather than $1.66) for every employee hour worked." [/QUOTE]
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