nospinzone
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Central States is the largest plan covering UPS employees. That means that it will have a big impact on UPSF employees should you guys choose to buy into it.Teamster251 said:Your problem nospin is your head is stuck in the CS plan hole.
Pull it out and take a look around at the other plans and seek the truth not a fraction of it
But of the two other large plans, only the boys out in California are actually enjoying some success. The Western Conference is 100% funded. Kudos to them. Too bad my family and I don't live in California.
The other fund, the New England Fund, is almost just as bad as Central States. It also will fall into the "yellow zone" as described by the Pension Protection Act of 2006. This means that the fund can cover 80% or less of its responsibilities. So, lets review. Two out of the three largest Teamster plans are having to cut back on benefits to secure their funding levels. Now how is this attractive to UPSF people again?
And just to drive the point home, here is an excerpt from a recent TDU article on their website.
And therein lies the true reason why the Teamsters want to organize UPSF.Also, a plan in the Yellow Zone cannot raise benefits until its funding level improves. This makes it critically important to bargain increased employer contributions, bringing part-time UPSers and UPS Freight into the Central States Fund, and to step up organizing as well.