You sir! Don't know what you are talking about, under the existing supplemental the company has to put monies in local804/447 pension fund to cover to difference of what's coming in as pension contribution from full time members and what's going out as benefits paid! Now let me break it down for you all!
When the current supplemental was signed back in 2008 the pension fund had a deficiency of 19million so thru out the following years the deficiency grew to now over 26million. Why this? Well simply we have less full time members working.
The previous board didn't negotiated $1.75! What they did was to tie future contributions to the law (PPA).
If you divide 26millions/4035 full time members you get $3.09 and hour! That is almost double what the current Eboard negotiated!
OK Albert if indeed the past board "tied future contributions to the law" whatever that inanity means, how come UPS hasn't filled the holes in the plan since 2008? If Howie fixed the plan, why hasn't funding improved?
Not one cent of contributions this board lives under was negotiated by THIS board. THIS board remarkably even with inadequate past funding was able to secure a benefit improvement in this TA unlike anything your vaunted past board ever did, which incidentally did negotiate $1.75 in a MOU in '08. Your post shows your complete lack of comprehension of process. Divididng numbers of members into shortfalls on a one year basis proves your lack of understanding.