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<blockquote data-quote="DELACROIX" data-source="post: 5678476" data-attributes="member: 49065">I still have a pamphlet dated around 1991 from the Central States trustees that indicated that they were concerned about not having enough active participants to cover their future retirees.I believe they were paying a thousand or 1,500 a month for a 30 year pension in the mid nineties, just before the strike.&nbsp; That is one of the many reasons that Carey did not allow that Company’s offer of 100 dollars per service year up to 35 years and also 50 dollars per service year for everyone’s prior part time service. Carey ran on the promise to increase pension benefits primarily for those under the Central and Southern which were the largest.I believe that once UPS upped the ante, the Central States trustees had to match those pension increases after the strike.&nbsp; That in turned causes more underfunding which caused those other Companies that were contributing to find an out, similar to what is happening with Yellow today.It could be even back then the Company knew that the Central would not be be able to pay its pension obligations in the future by matching that Company’s pension proposal.&nbsp; They failed in “97” but got it done in 2008.Pension plans rely on investments and returns in order to maintain or grow, that is why those trustees in the West stated that they will be able to improve and increase their pension benefits without that 1.00 per hour additional contribution.These guys are smart in the West, just look how well that fund is managed.&nbsp; They know that they will be able to improve their plan over the next 5 years.&nbsp; Their final retirement benefit will always be higher than any other pension out there, except maybe the one in the Washington DC area.</blockquote>

[QUOTE="DELACROIX, post: 5678476, member: 49065"] I still have a pamphlet dated around 1991 from the Central States trustees that indicated that they were concerned about not having enough active participants to cover their future retirees. I believe they were paying a thousand or 1,500 a month for a 30 year pension in the mid nineties, just before the strike. That is one of the many reasons that Carey did not allow that Company’s offer of 100 dollars per service year up to 35 years and also 50 dollars per service year for everyone’s prior part time service. Carey ran on the promise to increase pension benefits primarily for those under the Central and Southern which were the largest. I believe that once UPS upped the ante, the Central States trustees had to match those pension increases after the strike. That in turned causes more underfunding which caused those other Companies that were contributing to find an out, similar to what is happening with Yellow today. It could be even back then the Company knew that the Central would not be be able to pay its pension obligations in the future by matching that Company’s pension proposal. They failed in “97” but got it done in 2008. Pension plans rely on investments and returns in order to maintain or grow, that is why those trustees in the West stated that they will be able to improve and increase their pension benefits without that 1.00 per hour additional contribution. These guys are smart in the West, just look how well that fund is managed. They know that they will be able to improve their plan over the next 5 years. Their final retirement benefit will always be higher than any other pension out there, except maybe the one in the Washington DC area. [/QUOTE]

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