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UPS Union Issues
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<blockquote data-quote="dannyboy" data-source="post: 84181" data-attributes="member: 484"><p>Wiley</p><p> </p><p>there is a big difference in retirement plans and staying on a route. </p><p> </p><p>When they split our center, they gave us the option to go with central states or stay in the Atlantic. What a no brainer. But those vested or not would have not lost the time put in with UPS. The pay out at retirement would just have been less, and the retirement options would have been different.</p><p> </p><p>Now going to another union would be something different totally. There would have to be issues worked out to phase the new workers out of the teamsters and into the new union. So my guess is that over the next 10 years there would have to be a hybrid system for retirement. That is unless UPS decides that the new union is that much better to deal with and buys the time in the new union. I know at one time there was a number floating around that UPS would have to pay the teamsters if UPS were to take over the pension plan. Seems like it was 2.5 billion, but not sure. It would be far cheaper to just start from scratch and have the new union take it over. That way they would not have to fund the retirement of all the non UPS retirees.</p><p> </p><p>d</p></blockquote><p></p>
[QUOTE="dannyboy, post: 84181, member: 484"] Wiley there is a big difference in retirement plans and staying on a route. When they split our center, they gave us the option to go with central states or stay in the Atlantic. What a no brainer. But those vested or not would have not lost the time put in with UPS. The pay out at retirement would just have been less, and the retirement options would have been different. Now going to another union would be something different totally. There would have to be issues worked out to phase the new workers out of the teamsters and into the new union. So my guess is that over the next 10 years there would have to be a hybrid system for retirement. That is unless UPS decides that the new union is that much better to deal with and buys the time in the new union. I know at one time there was a number floating around that UPS would have to pay the teamsters if UPS were to take over the pension plan. Seems like it was 2.5 billion, but not sure. It would be far cheaper to just start from scratch and have the new union take it over. That way they would not have to fund the retirement of all the non UPS retirees. d [/QUOTE]
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