For those vested in the Central States Pension plan, and are now participants in the UPS/IBT plan:
Article 34, Section 1
Subsection (l) (6)
"The UPS/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."
This section can't even be touched.
The company needs to fulfill it's obligations to the Teamster employees, that sacrificed
hard work to make UPS what it is..... for Everyone.
-Bug-
@BigUnionGuy when you posted that
"This section can't even be touched", are you suggesting that it is literally 'untouchable', or rather that we need to insure that it is never on the table?
I ask because I believe at some point UPS will make a concerted effort to get out of that guarantee.
The Company, for sure, never envisioned the enormous liability that they are facing after paying $6+billion in withdraw liability.
Seems to me, the blueprint to get this done was demonstrated in the last contract in regards to healthcare?
Will the rest of the country be willing to strike to protect our pensions, in the face of a signing bonus or some other incentive, to sell out those of us vested in Central States???
Will the IBT have the fortitude to keep it from being brought to the membership in a "last, best, and final offer"?
~Bbbl~™