I’ve been to joint counsel conferences where the CS trustees give updates. Even they are vague. And in regards to the new pension bail out they have no idea how it’s going to work. Best advice have a great back up plan.
Dunno what you're trying to say in this aimless babble, but you bring up bankruptcy over and over in multiple threads, and that's just not how that works.
Oh?
When able....our pensions will go away. Then what? I sure don't know.
I don’t personally believe they’ll go away. At worst they could be reduced. That’s just my personal opinion I can’t give any guarantees because well……
Well, They’re protected through 2051 with the American Rescue Act.
Yes this is what we are told although there is very little info on how it will work. Also will $90 something billion be enough? I hope so.
Mismanagement is an entirely different concept than "canceled" pensions and bankruptcy laws. But hey, misdirection is your thing, only next to your ignorance.
Right....when able.....laws can be changed....bankruptcy can and does have a whole other set of standards.....
Well, mismanagement is why they are broke.....and bankruptcy goes hand in hand with being broke.....UPS is not there(pensions are) now....but easily in the future. YOU would have to be pretty ignorant to discount bankruptcy.....
Our whole democracy could fall apart too and you won’t get your pension then either.
NO!!!!!
Your pension cannot be 'flushed in bankruptcy'. You really should step back and learn the laws from people who know instead of going by what you 'feel' something is or will be.
Obviously, he has never stepped on a crack in any sidewalk...
I'd like proof of the latter!Funny.... I've never said that.
(even though it's better than Upstate NY)
Local 639's pension is even better than the Western Conference.
This is what I’ve been saying all along. Quad Copter Flyer just won’t listen.Your pension cannot be 'flushed in bankruptcy'. You really should step back and learn the laws from people who know instead of going by what you 'feel' something is or will be.
Home Page | Pension Benefit Guaranty Corporation
www.pbgc.gov
That is correct there is a certain level of safety but some of the retirees were pretty concerned before the relief act because their pension was going to be cut so far as to be almost worthless to them. Details are still sketchy but the trustees of Central states certainly looked much more upbeat this time
Mismanagement is why some pensions are broke, and no, UPS could not "easily" end up bankrupt. It would take quite an effort to bankrupt a company like this, and even if, it doesn't mean your pensions are "flushed" on a whim. Although, you seem sure that's how it goes, so please, your credentials? Exactly, please? I'm sure you've already experienced UPS going broke and flushing your pension, you've seen it all....
That is correct UPS is financially stable and then some. Many working people in the central region have little to almost no time in central states anymore and as we move further along that will continue. The UPS fund seems to be doing quite well. My guess is he was caught in the hoopla of central states going broke thinking he or others would lose everything. Thankfully there is insurance although it would not have covered everything. And thankfully the pension bailout gives 85 to 90 billion in relief. It won’t last forever (until 2051 I believe) and we need to hit the ground running organizing other industries as well as Amazon if we have a chance of surviving into the distant future.
