Good questions d. Have you tried contacting them? Given the issues involved, a healthy dose of skepticism is necessary.
No doubt the pension rollover solution will be a messy one and is not anywhere to be found on the site. In their defense, the contributions over the 30 year period are compounded, thus producing the projected higher payout. Their model also is based on what appears to be an individual annuity, instead of the negative dynamics of the multi-employer model when the ratio of retirees drawing benefits exceeds the number of participants whose employer is making contributions on their behalf.
Let's also not forget that the UPS Pension Plan and UPS Retirement Plan are 100% funded. I wouldn't know if these plans compounded like the UBS fund example on their site, however. Furthermore, assuming the UBS plan were adopted, I believe this plan would fall under the single employer rules, which are more stringent than the multi-employer model. So in effect, by law, this plan would have to be 90% funded or better at all times.
I'm assuming if they can't get enough interest they will cease operations, just like any business would. Speaking for myself, this new union offers a potential second chance that was lost in '97, which I welcome. Furthermore, I'm at least 20-25 years from retirement and quite frankly, if present trends continue, I don't expect the pension I'm vested in to exist when I go to file a benefit claim down the road. Change however painful, will be necessary at some point. These issues are not going to fix themselves, so doing nothing is not an option.
Its great we are able to debate this here. Quite honestly, the discussion on this thread is far better than any I could get at work. I'm also thankful for the folks behind APWA for having the gumption to try even if the union fails.