I would like to say hello to my fellow retirees. I hope that you are all healthy, and I thank those of you who responded to the e-mails I sent out recently. So glad to hear from you!
First of all I would appreciate it if you DO NOT want to be included on this list, please respond to me and indicate that you want to be removed.
I have gotten your e-mail address off the Silver Club website. I know that the list is not all inclusive and there are more people who have retired from UPS than are listed. If anyone knows someone who is not on this list of contacts, feel free to forward to them to keep them informed.
I would like to share a few thoughts with you about the pension fund cutback letter. I am sorry if some of you have already gotten this…. I just updated my list of contacts.
There may be some useful tools that we may be able to utilize on our behalf:
1. Does anyone remember when the membership started legal actions to change the pension fund? I am referring to when the membership took control of the pension fund investment policies. Dates would be useful here and possibly the names of attorneys.
2. Does anyone remember when the pension fund was audited by the Federal Government. The result of the audit was that the government found the pension fund was OVERFUNDED and mandated that the pension fund had to implement a plan to REDUCE its assets to an acceptable level? This occurred AFTER the legal battle to gain control of Pension Fund Investments. [We did GOOD!] Once again, Dates and persons involved would be useful here.
3. UPS Retirees should have a person on any committee the pension fund sets up to change our benefits, or even begin the consideration of such changes. We have no one to represent UPS Retirees.
4. UPS has consistently paid into the pension fund. Over the years UPS employees had pay increases go into the Health Plan and Pension fund instead of receiving pay increases. I think that this is significant and should be taken into consideration.
I have attached a .pdf document from the Department of the Treasury that details the MPRA act. In addition, here are some links that some of you may find useful:
These sites outline just a few of the other information sites that are available, there are many more. Also, please note that there is no language in the Kline-Miller Act that allows for disclosure and discussion with the membership until after decisions are made. Special case criteria that applies to groups of retirees like UPS compared to other companies like P&C may be overlooked in the process.
My wife, xxxxx, and myself are absolutely sickened over this. Just having something like this hanging over our heads prevents us from making long range plans because we do not know how our income will be affected. Once the benefits are gone, they will not be replaced, and there is no language to prevent it from happening again 5 or 10 years from now.
Please note that I am just trying to gather information. I would like to share as much information that is available. This is the only method we have to be able to communicate.
We have to talk among ourselves, and we have to communicate with each other. If we don’t, we lose!
Good Luck Sherry... The retirees have to wake up!
If you look at MPRA and replace Multiemployer Pension with Social Security, you will see the true direction this is going. MPRA will establish the legal precedent the response to it will determine the course the Federal Government will take. Does not matter which political party! It is on the horizon!
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