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<blockquote data-quote="OZZ" data-source="post: 254838">Both can not be true:#1&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; Quote:Originally Posted by outthedoor&nbsp; If Central States has reduced pension benefit amounts because of financial problems, UPS will guarantee your full pension amount for the rest of your life. ----Are you certain about that part? It seems to be the exact opposite of what we&#039;ve seen in the posted contract. --------------------------------------------------------------------------------------------------------------- #2Originally Posted by Tackleberry&nbsp; Hi. I could be wrong, but the way I&#039;m reading this -&quot;The UPS/IBT Plan will recognize full-time service in the CS Plan for determining eligibility for the benefits in this section and will offset at Normal Retirement Age the benefits accrued from the CS Plan commencing at Normal Retirement Age.&quot;UPS will use count the years you&#039;ve accrued with CS toward your total and will then reduce the amount you will receive from CS from the UPS plan. (two checks)and this-&quot;If the benefit paid from the CS Plan is reduced as permitted or required by law, the amount of such reduction shall not be included in this offset.&quot;seems to mean that if, for some reason CS cannot pay the full amount it owes you, then UPS is not required to make up the difference. For instance, if the Feds or CS decide that CS won&#039;t be able to pay everyone the agreed upon retirement amount, I suppose they could reduce it- if the current law permits the reduction.&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------&nbsp; I think DenverBrown has false information. The wording of the contract is more authoritive. I wish UPS was going to guarantee the CS pension. This, I believe is a rumor intentionally spread by UPS and the union to bolster support for the contract. Both sides have said it to me. When you attend your informational meetings ask them if UPS will guarantee your pension benifit if CS falters.Then ask them where it is in the contract. It is a big lie and they think if they say it enough times you will believe it. Vote the way you want but don&#039;t be mislead.</blockquote>

[QUOTE="OZZ, post: 254838"] Both can not be true:#1 Quote: Originally Posted by outthedoor If Central States has reduced pension benefit amounts because of financial problems, UPS will guarantee your full pension amount for the rest of your life. ---- Are you certain about that part? It seems to be the exact opposite of what we've seen in the posted contract. --------------------------------------------------------------------------------------------------------------- #2 Originally Posted by Tackleberry Hi. I could be wrong, but the way I'm reading this - "The UPS/IBT Plan will recognize full-time service in the CS Plan for determining eligibility for the benefits in this section and will offset at Normal Retirement Age the benefits accrued from the CS Plan commencing at Normal Retirement Age." UPS will use count the years you've accrued with CS toward your total and will then reduce the amount you will receive from CS from the UPS plan. (two checks) and this- "If the benefit paid from the CS Plan is reduced as permitted or required by law, the amount of such reduction shall not be included in this offset." seems to mean that if, for some reason CS cannot pay the full amount it owes you, then UPS is not required to make up the difference. For instance, if the Feds or CS decide that CS won't be able to pay everyone the agreed upon retirement amount, I suppose they could reduce it- if the current law permits the reduction. -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- I think DenverBrown has false information. The wording of the contract is more authoritive. I wish UPS was going to guarantee the CS pension. This, I believe is a rumor intentionally spread by UPS and the union to bolster support for the contract. Both sides have said it to me. When you attend your informational meetings ask them if UPS will guarantee your pension benifit if CS falters.Then ask them where it is in the contract. It is a big lie and they think if they say it enough times you will believe it. Vote the way you want but don't be mislead. [/QUOTE]

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