The "offer" that was denied, by the teamsters, to buyout of the failing Central States Pension Fund would have secured the future UPS retiree's a stable paycheck, at the cost of 560 million.
20 and out, and, 25 and out guaranteed at any age.
Full health insurance provided for free, to the retiree.
Yep, da teamsters showed them and went on strike.
Central States Pension went down the tubes.
25 and out was still in effect, but the retiree had to deduct 6% for every year under the age of 65.
Do the math, and subtract those 6% yearly reductions.
If one retired before the age of 57, one was banned from getting health insurance.
Hat in hand, da teamsters, accepted a contract that cost UPS 6 billion, instead of 560 million, to save the UPSER's in Central States.