Central States Pension - UPS will not cover difference ?

[UpstateNYUPSer(Ret)]

I still contend that if the pension benefit is reduced by the government, not CSPF, then UPS is not obligated to make up the difference.

 

[BigUnionGuy]

I still contend that if the pension benefit is reduced by the government, not CSPF, then UPS is not obligated to make up the difference.

Dave,

With all due respect, I was at the 2-man in 2007.... and every meeting with Central States after that.

I still have all the documentation and my hand written personal notes. It affects me.

I am one of the 100 or so, officers and agents that are "grandfathered" into the new UPS plan.

Went to a seperate meeting for that.... After they realized, they were going to have to make an amendment to the Plan to include us.


Unfortunately, (as with so many threads on this site) there are a lot of well meaning opinions.... on various topics.

But very few people.... that have factual information.



​-Bug-

 

[UpstateNYUPSer(Ret)]

Thank you for your response. The respect is mutual. Dave.

 

[DDD1983]

It's covered. Other than that I'm not saying anything else because the subject has been beat to death. Call your local, the international the trustees of the ups /Ibt plan or Atlanta and get your answer. Not a message board. Common sense people.

 

[DDD1983]

It sounds to me if it says shall not cover the offset that means they won't cover the offset after age 65. You must be a business agent or someone from the local who wants your members to get off of your back about this subject and it's not just going to go away.

 

[DDD1983]

Why am I being told from the Union that UPS will cover our pensions after age 65 if Central States becomes insolvent? (They obviously will be) It clearly states in the contract that they will NOT. Looks as if those of us relying on Central States for a pension are *%it out of luck after age 65. Look out Health Care !


"The USP/IBT Plan will recognize full time service in the CS Plan for determining eligibility for the benefits in
this Section and will offset at Normal Retirement Age the benefits accrued from the CS Plan commencing at
Normal Retirement Age. 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".

 

[DDD1983]

I know this thread is old but the subject should be at the Forefront of this next contract especially us that are in the Central States plan and have significant time pre 2008. The language is ambiguous and meant to confuse and kick the can down the road of the Dirty Little Secret of the Central States Pension Plan. If I have 25 years of service pre-2008 then the pension plan goes broke is UPS going to make up the difference? The language speaks otherwise. Shall not means they shall not cover the offset so we are SOL if we don't change it.

 

[Catatonic]

I know this thread is old but the subject should be at the Forefront of this next contract especially us that are in the Central States plan and have significant time pre 2008. The language is ambiguous and meant to confuse and kick the can down the road of the Dirty Little Secret of the Central States Pension Plan. If I have 25 years of service pre-2008 then the pension plan goes broke is UPS going to make up the difference? The language speaks otherwise. Shall not means they shall not cover the offset so we are SOL if we don't change it.

Probably SOL unless you give up wages/compensation to offset those expenses.

 

[wkmac]

Probably SOL unless you give up wages/compensation to offset those expenses.

There you go!

Monkey nailed it but with UPS sunsetting the non union/management retirement plan, guess what will be next in their gunsights?

This isn't Jim Casey's UPS anymore.

 

[Catatonic]

There you go!

Monkey nailed it but with UPS sunsetting the non union/management retirement plan, guess what will be next in their gunsights?

This isn't Jim Casey's UPS anymore.

And more to the point ... this is not the business environment that Jim Casey knew.
Even with his vision, I don't think Jimbo foresaw today's world.

 

[wkmac]

And more to the point ... this is not the business environment that Jim Casey knew.
Even with his vision, I don't think Jimbo foresaw today's world.

That may be true but I'm not convinced even today's business environment requires totally selling your people, union, non union alike, down the river.

 

[DDD1983]

Probably SOL unless you give up wages/compensation to offset those expenses.

Most members will do that but the union doesn't want to give up wages cuz the more we make the more they make

 

[Catatonic]

Most members will do that but the union doesn't want to give up wages cuz the more we make the more they make

Exactly but the IBT stooges will tell you that you are nutz.

 

[DDD1983]

Because they would rather us get a raise in pay than fund the Central States Pension Plan that they raped and pillaged our money from.

 

[wkmac]

Exactly but the IBT stooges will tell you that you are nutz.

I know several who told me that when I suggested it.

 

[wkmac]

Because they would rather us get a raise in pay than fund the Central States Pension Plan that they raped and pillaged our money from.

I agree with those who say we shouldn't put good money into bad but that doesn't stop us from coming up with other solutions that could make a difference for everyone.

Everyone being UPSers.

 

[DDD1983]

With all due respect, I was at the 2-man in 2007.... and every meeting with Central States after that.

I still have all the documentation and my hand written personal notes. It affects me.

I am one of the 100 or so, officers and agents that are "grandfathered" into the new UPS plan.

Went to a separate meeting for that.... After they realized, they were going to have to make an amendment to the Plan to include us.

Unfortunately, (as with so many threads on this site) there are a lot of well meaning opinions.... on various topics.

But very few people.... that have factual information.

-Bug-

Unfortunately for most in the Central States plan, officers and agents of the Union have a separate pension plan.
So there is no motivation for them to help their own membership stuck in this sinking ship.
Other than their membership giving them hell fix it.
That's what it's going to take

 

[Catatonic]

Unfortunately for most in the Central States plan, officers and agents of the Union have a separate pension plan.
So there is no motivation for them to help their own membership stuck in this sinking ship.
Other than their membership giving them hell fix it.
That's what it's going to take

As a UPS management person, I was always glad that the UPS Pension plan was the same one that the Management Committee was under.
That's most likely why the new elimination of further Pension contributions was pushed out to 2023.
They probably looked at the people that would decide and when they would not be affected ... that's the date!

 

[Catatonic]

That may be true but I'm not convinced even today's business environment requires totally selling your people, union, non union alike, down the river.

That's what happens when you bring in consultants.

 

[5habits100]

Unfortunately for most in the Central States plan, officers and agents of the Union have a separate pension plan.
So there is no motivation for them to help their own membership stuck in this sinking ship.
Other than their membership giving them hell fix it.
That's what it's going to take

Which Local Union in the Central Region have a different pension plan other than Central States? You and the other geniuses have no idea what you are talking about.