Are You Getting Tired Of Sacrificing Your Pension Money?

[705red]

The Teasmsters have been notorious for imbezzeling moneys out of pension funds in years past. That is capital that can never be recovered.
Central States has always been severely underfunded. This is something that has not just happened in recent years. I can remember asking a union rep in the early 80's what was cs funded at and his reply was 60%
Just beware the company wants out of cs but current ups employees
will get to keep the years they have in it. Is this a good deal or not???
My question to Tie is back in 97 was UPS going to assume our pension? When UPS offered a 30 and out who were they talking to?
Brand new employees or was this offer for everyone??? In 97 I had 15 yrs in with cs. What would have happened to those vested years if UPS
would have pulled out???

Wyobill, i do not believe that ups has offered to assume our pension at any time. That would cost them alot of dough in order to do it. I dont see the company paying the withdraw liability and on top of it putting on the side extra cash for those who years that upsers have vested in the cs plan. Another uestion is what happens to those that dont have 5 years in cs before this gets signed? Do they lose their 4 plus years, or will ups assume them. I say we just sit back and listen to all the runors, but wait until you see the offer in full detail before making your decison.

 

[sawdusttv]

Wyobill, i do not believe that ups has offered to assume our pension at any time. That would cost them alot of dough in order to do it. I dont see the company paying the withdraw liability and on top of it putting on the side extra cash for those who years that upsers have vested in the cs plan. Another uestion is what happens to those that dont have 5 years in cs before this gets signed? Do they lose their 4 plus years, or will ups assume them. I say we just sit back and listen to all the runors, but wait until you see the offer in full detail before making your decison.

RED,
If it is like times past, we will never see the full details. We will see a vague outline of a proposal once the teamsters and UPS have come to an agreement and we will be rushed to a vote with the teamsters telling us to accept it. This is how it has been in the past and I don't see them changing. They do not want us to have the time to study any offer. They want to push it through and get it signed before we can figure out what hit us.

 

[705red]

RED,
If it is like times past, we will never see the full details. We will see a vague outline of a proposal once the teamsters and UPS have come to an agreement and we will be rushed to a vote with the teamsters telling us to accept it. This is how it has been in the past and I don't see them changing. They do not want us to have the time to study any offer. They want to push it through and get it signed before we can figure out what hit us.

This by far wil be the biggest issue you in cs will ever have to make, so its up to us to make sure we get all the info on this issue, and not to take anyones word on it. We can not vote one way or the other without the details and we sure cannot vote to accept it without knowing all the facts, so if either party refuses to give us the details we better vote it down so they are forced to show us the details! Im not saying to vote it down because im a teamster whos in favor of the mep plan, im saying it because you deserve to know what you are getting in return for leaving the mep fpr a sep plan.

 

[sawdusttv]

This by far wil be the biggest issue you in cs will ever have to make, so its up to us to make sure we get all the info on this issue, and not to take anyones word on it. We can not vote one way or the other without the details and we sure cannot vote to accept it without knowing all the facts, so if either party refuses to give us the details we better vote it down so they are forced to show us the details! Im not saying to vote it down because im a teamster whos in favor of the mep plan, im saying it because you deserve to know what you are getting in return for leaving the mep fpr a sep plan.

Agreed,
Let us hope that when the time comes that the employees will keep a level head and think, demanding details is a must and should not be compomised under any circumstance.