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
Tiyeeee-gyyyeah!
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
Tiyeeee-gyyyeah!
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
Tiyeeee-gyyyeah!
My local has Coca Cola, Pepsi, and Waste Management among others. Pretty stable places.
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