c.s and retired employees

Discussion in 'UPS Retirement Topics' started by WHicks45, Oct 18, 2007.

  1. WHicks45

    WHicks45 New Member

    Just to be upfront with those of you on here. I don't work for ups, I'm just doing some homework for my dad who was going to retire tomorrow. Can anyone on here give me some insight on what the plan is for the guys/gals who put in their 30 + at ups and have retired or are about to. My fathers understanding of the situation is that basically he's going to lose any pension that he would have had if/when central states goes belly up in 5 10 15 years. Ever how long it takes for them to file bankruptcy after ups pulls out. I've read some post on here that hint at a lump sum buy out for those guys, but looking over the T A I can't find anything that even hints at that in there. Thanks in advance for any help or insight
     
  2. silverfox

    silverfox New Member

    he needs to work one day into 2008 the way i see it. i retired last year with 31 years and expect the worst for me and my brothers who help build this company. so i think your dad could avoid being part of a class action lawsuit by staying till 2008. hope this helps
     
  3. WhatsUP

    WhatsUP Member

    Is that legal in the Pension Laws doing what UPS plans on doing to the retirees as far as not guaranteeing their Future Pension Payouts????
     
  4. silverfox

    silverfox New Member

    i don't know if it's legal, but the retired people better wake up. this plan was based on you paying the way for the brothers and sisters that built this pension. i did'nt work for one of the closed down company's. i put 31years in at ups and expect to have the same safe gaurd's in place as somebody who works one day into 2008 !!!
     
  5. kenco80233

    kenco80233 New Member

    Several years ago,I had a union official explain to me that the union has no obligation to represent a retired member.Ther only obligation is to represent a dues paying member.
     
  6. WhatsUP

    WhatsUP Member

    I am surprised UPS and the Teamsters dont seem to care or did not address this issue on their Video on the Teamster Site which explained the New UPS Pension Plan (the issue of why current retirees can't get the same guarantees). I just wonder how many UPS retirees know about the coming changes if this Plan Passes. I agree that we should get the same treatment or choice that the other brothers are getting as far as guarantees in our Pension Payouts in the Future.
     
  7. kenco80233

    kenco80233 New Member

    That is a good question.I guess since the current retirees,I am one,don't vote on this contract,we are not that important?