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UPS Union Issues
Central States going broke---
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<blockquote data-quote="DELACROIX" data-source="post: 4831563" data-attributes="member: 49065"><p>I know that you have retired under the company plan (UPS Retirement Plan) set up for high salary or non union employees, and I presume you are very comfortable with the benefits and perks. Basically it is 50 % of your base salary calculated from your best 5 years, plus no cost health coverage till age 65, for you and your spouse, you stated previously that you retired when the going was good.</p><p></p><p>Your statement about the Teamster's honor of commitment to their members is a true one, but before we start putting UPS Corporate on the pedestal of how run a pension plan you better research some of their previous dealings with Union and Non Union employees who were originally in that plan and were mysterious booted out, prior to the stock going public in l999. Does "Morrow II" sound familiar, in l991 Scott Davis decided to move them (200 employees) into the UPS Pension Plan to save money, that was just before they promoted him to the Board and then CEO. Scott retired and I expect is living comfortably on a roughly 4 million a year pension benefit.. </p><p></p><p>I mentioned that you deserve every dollar you get from UPS for your long service that still stands, but never bring up any integrity superiority with the way UPS has treated those that they deem as unworthy or unfitting.</p><p></p><p>The bottom line is that the ERISA act of l974 is a piss poor law that Companies and unfortunately Unions have taken advantage for over 48 years. The penalties and the fines over any violations are a joke and are not taken seriously by the Plan Administrators or the Board of Trustees, when people go to jail maybe, just maybe things will change for the common worker expecting a decent retirement and not just for the higher elites..</p></blockquote><p></p>
[QUOTE="DELACROIX, post: 4831563, member: 49065"] I know that you have retired under the company plan (UPS Retirement Plan) set up for high salary or non union employees, and I presume you are very comfortable with the benefits and perks. Basically it is 50 % of your base salary calculated from your best 5 years, plus no cost health coverage till age 65, for you and your spouse, you stated previously that you retired when the going was good. Your statement about the Teamster's honor of commitment to their members is a true one, but before we start putting UPS Corporate on the pedestal of how run a pension plan you better research some of their previous dealings with Union and Non Union employees who were originally in that plan and were mysterious booted out, prior to the stock going public in l999. Does "Morrow II" sound familiar, in l991 Scott Davis decided to move them (200 employees) into the UPS Pension Plan to save money, that was just before they promoted him to the Board and then CEO. Scott retired and I expect is living comfortably on a roughly 4 million a year pension benefit.. I mentioned that you deserve every dollar you get from UPS for your long service that still stands, but never bring up any integrity superiority with the way UPS has treated those that they deem as unworthy or unfitting. The bottom line is that the ERISA act of l974 is a piss poor law that Companies and unfortunately Unions have taken advantage for over 48 years. The penalties and the fines over any violations are a joke and are not taken seriously by the Plan Administrators or the Board of Trustees, when people go to jail maybe, just maybe things will change for the common worker expecting a decent retirement and not just for the higher elites.. [/QUOTE]
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