What is the REAL reason negotiations have stalled?

Thebrownblob

Well-Known Member
Kind of did right? I mean if the teamsters allowed the members to vote on the last and final the members could be where the ups sups are now. With no pension.
Perhaps, but in 1997, everyone said if UPS took it over, we wouldn’t have a pension. Hasn’t happened yet although I’m sure they’re working on it.
 

Thebrownblob

Well-Known Member
You'd know better than me. I just remember a lot of people on here supporting it years later before the bailout and everything.
I don’t think anyone I knew would’ve voted yes on last, best and final. But admittedly, I was just a part timer, then. Lots of things I did not know.
 

Thebrownblob

Well-Known Member
That fund, the UPS/IBT single employer fund, is like 107% funded?
I’m talking specifically about central states and multiemployer pension plans that UPS wanted to take us out of in 1997 and ultimately did, I was being tongue-in-cheek about them finding a way to get rid of it, although I still know they would love to get rid of it.
 

Bubblehead

My Senior Picture
I’m talking specifically about central states and multiemployer pension plans that UPS wanted to take us out of in 1997 and ultimately did, I was being tongue-in-cheek about them finding a way to get rid of it, although I still know they would love to get rid of it.
They are essentially out now?

Every bit of liability UPS has in the Central States Fund will die off long before it runs out of money now.
 
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Automaton

Well-Known Member
They are essentially out now?

Every bit of liability UPS has in the Central States Fund will die off long before it runs out of money now.
Central States got handed a big pile of money once before (6 billion + ?) and it evaporated right before their very eyes. Who's to say something similar won't happen this time? I hope the UPS backup remains in place—just in case.
 

Bubblehead

My Senior Picture
Central States got handed a big pile of money once before (6 billion + ?) and it evaporated right before their very eyes. Who's to say something similar won't happen this time? I hope the UPS backup remains in place—just in case.
This time it was $35.8 billion, so.....
 
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