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Brown Cafe UPS Forum
UPS Union Issues
Breaking News Regarding Fed Ex Express
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<blockquote data-quote="Mugarolla" data-source="post: 3886317" data-attributes="member: 8481"><p>Wrong.</p><p></p><p>Even if they did go out of business, the UPS-IBT Pension Plan is funded at 100.00% as of 12/31/2017.</p><p></p><p>That means there is enough money in the fund to pay the current liabilities. So, even if they went out of business, there would still be pension payments for a long time to come.</p><p></p><p>The same for those not in the UPS-IBT Plan. Although some of those may not be as well funded.</p><p></p><p>Actually, I believe the PBGC takes over the pension, since they guarantee it, and the money UPS had in the pension fund goes to them.</p><p></p><p>But I wouldn't worry, too much, about them going out of business, at least not anytime soon.</p></blockquote><p></p>
[QUOTE="Mugarolla, post: 3886317, member: 8481"] Wrong. Even if they did go out of business, the UPS-IBT Pension Plan is funded at 100.00% as of 12/31/2017. That means there is enough money in the fund to pay the current liabilities. So, even if they went out of business, there would still be pension payments for a long time to come. The same for those not in the UPS-IBT Plan. Although some of those may not be as well funded. Actually, I believe the PBGC takes over the pension, since they guarantee it, and the money UPS had in the pension fund goes to them. But I wouldn't worry, too much, about them going out of business, at least not anytime soon. [/QUOTE]
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