More than 100 UPS retirees protest proposed pension cuts

More than 100 retirees gathered outside two UPS terminals Thursday to protest a company plan to cut their pensions by 20 percent. Many are calling it the latest attack on the Central States Teamster Pension Plan.

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There are 32,000 workers in Missouri alone who are vested in this pension plan. And protesters claim they all would feel the pain, arguing that if UPS can cut pension payments by 20 percent, other employers will follow.

"I think the pension plans are probably a dinosaur," said Cynthia McDaniel, wife of a retired Teamster freight driver. "They are wanting to get away from that. I have no issue with that. I have an issue with them throwing the people who have worked 30 or 40 years hard, hard labor. They are wanting to throw them under the bus and cut their pension plans and not deal with it."

The workers say cutting retirement income that many have earned after 30 or 40 years of labor will ripple throughout the region's economy, with less money spent at local businesses.

And retirees claim the proposed cuts are no guarantee for solving the pension crisis.

Wes Epperson drove a truck for UPS for nearly 44 years and says there are other proposed solutions that don't include cutting payments to workers.

"I don’t hoard money like billionaires," Epperson said. "We spend it. We put it into the economy. So it’s not going to be just us. It’s going to be all the small business people that we spend our money where we live."

Many retirees blame Wall Street for mismanaging their pension during the financial crisis of 2008, when the Central States Fund lost 40 percent of it's value.

Now that big banks are making billions again, retirees want the fines Wall Street firms have paid for their wrongdoing to be plowed back into pension funds.

Retirees say since Congress enacted the Multi-Employer Pension Reform Act, there have been attempts to include pension cuts to budget bills without any debate. The protesters want Congress to do it's job to enact a solution that doesn't fall entirely on the backs of workers.

Glenn A. Zaccara, a representative for UPS, issued the following statement:

"The potential failure of multiemployer pension plans is a national issue UPS did not create. UPS is working to be part of the solution by proposing a plan that has the potential to stop the failure of approximately 100 critical or declining pension plans across many industries, covering an estimated one million current and future retirees, including many UPS retirees."

Click here to read more at Fox 4 News.


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  • commented 2017-08-09 13:07:31 -0400
    They should not make any deal with Tom Nyham involved and show the members they are at least making an effort to do right by us. Mr. Nyham is the reason our plan is failing, has shown to be totally inept at his job and should not be involved with the repair of the plan.
  • commented 2017-08-05 16:05:24 -0400
    💰💵💵💵💵💵💵💵💵💰
    💰💵LAWYERS n LOVE💵💰
    💰💵💵💵💵💰💵💵💵💰

    Then came HOFFA a name
    to live in labor INFAMY
  • commented 2017-08-05 00:34:26 -0400
    HERE WE GO AGAIN!!! Working person has to take the hit, AGAIN. The working person had nothing to do with the loss of the money, the Government and trustees are at fault. The government at fault when chief of Justice (Lanny Breuer) failed to sue Goldman & Sach for the $13 Trillion fiasco by selling bad stock to Hudson Financial. Goldman & Sach even suckered people to invest by putting $2 million in the Hudson fund while Goldman & Sach placed $2 Billion on that it would fail. WATCH ONLINE; http://topdocumentaryfilms.com/veneer-justice-kingdom-crime/ A documentary on 2008 crash, when all said and done $5 trillion was missing from pension, housing and 401K’S plans.WATCH the movie “The Big Short” . The trustees at fault for miss use of funds and High wages they pay Tom Nyham $698,000.00 year and the year he asked for the cuts, he received a raise of $32,000.00, how many people can keep their job AND get a raise when performance is bad?? I feel the Government should vote on the KOPPA by Bernie Sander whether or not you like him, his plan will work without costing the retirees. This would make up for the Government failure to sue Goldman and Sach without admitting they were wrong….. WE DID NOT DUE THIS; Government would be Okay with this if we were the 1%, instead Government willing to hurt the 99%, so much for majority rules.
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