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<blockquote data-quote="Thebrownblob" data-source="post: 5971463" data-attributes="member: 60485">Yep, a little known fact about how these pensions worked is that UPS even though they paid all that money was still on the hook for billions. The shockwaves it would’ve sent through the economy would’ve been tremendous.“However, UPS withdrew in 2007, with a hurried contract ratification with the Teamsters <a href="https://www.nytimes.com/2007/10/01/us/01labor.html" target="_blank">enabling them to avoid changes to multi-employer plans coming into effect in 2008</a>. Because the withdrawal liability payment required under legislation at the time did not fully compensate the plan for the losses it would experience, this and other withdrawals brought about further decreases in pension funding.”This was around 2016 and it was actually much more than this and this was just for Central states.[URL unfurl=&quot;true&quot;]https://www.pionline.com/article/20160428/ONLINE/160429859/ups-faces-up-to-3-8-billion-charge-if-central-states-benefit-reductions-approved[/URL]</blockquote>

[QUOTE="Thebrownblob, post: 5971463, member: 60485"] Yep, a little known fact about how these pensions worked is that UPS even though they paid all that money was still on the hook for billions. The shockwaves it would’ve sent through the economy would’ve been tremendous. “However, UPS withdrew in 2007, with a hurried contract ratification with the Teamsters [URL='https://www.nytimes.com/2007/10/01/us/01labor.html']enabling them to avoid changes to multi-employer plans coming into effect in 2008[/URL]. Because the withdrawal liability payment required under legislation at the time did not fully compensate the plan for the losses it would experience, this and other withdrawals brought about further decreases in pension funding.” This was around 2016 and it was actually much more than this and this was just for Central states. [URL unfurl="true"]https://www.pionline.com/article/20160428/ONLINE/160429859/ups-faces-up-to-3-8-billion-charge-if-central-states-benefit-reductions-approved[/URL] [/QUOTE]

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