1989
Well-Known Member
It’s regional, ran by a board. 200,000 active participants. 1400 employers.
Progress made in the Third & Fourth Rounds of UPS Contract Negotiations
- Thread starter Catatonic
- Start date
The multi employer plan doesn't work anymore
1989
Well-Known Member
Mine works very well.
Mine did at one time also.
KOG72
I’m full of it
Agree
1989
Well-Known Member
At what time does it all go to hell?
upschuck
Well-Known Member
Wonder how many would be in good shape, if only they only got credit, if they contributed fully.
upschuck
Well-Known Member
Right before you start drawing from it.
About a decade ago. The market tumbled, some of the other players in our plan went out of business. More people retired and less and less are putting in.
brown_trousers
Well-Known Member
I wonder why they don't put protections into those multi-employer plans. Something to the effect of;
all pension money contributed by UPS, can only be paid out to UPS employees. Thereby eliminating the possibility of our pensions dollars bailing out non-UPSers
That is was of the things that are looking at. Some sort of a hybrid plan.
I'm just sick and tired of the double talk. Make some small cuts now, so it isn't as bad in the future.
brown_trousers
Well-Known Member
I agree. I cant understand why so many people oppose that. Its simple math. take a small reduction early on and continue to collect benefits till you die. or demand a higher benefit, and the whole thing goes bankrupt in a few years, and then you get little to nothing for the rest of your life.
It seems like a simple step in logic to understand that you would benefit more from taking the small benefit cut now, versus losing everything later on
MyTripisCut
Never bought my own handtruck
Mine is multi employer and 98 percent funded.
Answer=. Nobody has the balls to do the right thing.
1989
Well-Known Member
And some pensions came out unscathed?
MyTripisCut
Never bought my own handtruck
Depends on the employers involved and how many retirees they have.
Some did much better. The multi employer ones seemed to take the biggest hit.
brown_trousers
Well-Known Member
West coast?
Yellow freight didn't help us any. Hostess went bankrupt owes 10's of millions of dollars. We had a fee other big players say... friend* this , we are pulling out.
MyTripisCut
Never bought my own handtruck
My local has Coca Cola, Pepsi, and Waste Management among others. Pretty stable places.
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