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UPS Retirement Topics
CS pension language cleared up
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<blockquote data-quote="Cezanne" data-source="post: 256450" data-attributes="member: 5104"><p>Look again at the formula with this new pension plan. Now look at the Master lanuage for the UPS controlled part time pension plan, which will go up to 60 dollars per serivce year Aug "08". If I am right a part timer with 30 years in will get 1800 a month any age, from just skimming this UPS/IBT plan anybody who retires before age 57 with the same number of years in regardless of how many of them are full time will collect 2000 dollars, minus spousal deductions, taxes, and health insurance costs. They might say they have a 25, 30 and out at any age, but can anybody afford to leave and not be eligible for food stamps. </p><p> </p><p>This new pension plan is fine and danny if you can physically last till your late 50's and early 60's, but for those who been here a while consider the attrition rate of medical retirees or permanent disabilities that come with most jobs at UPS. I am afraid most of us will not be able to last till 57 and end up settling for table scraps. The figures quoted with this new pension plan are and will be so inferior to our Western Confernce brothers and sisters that it would be almost criminal. Has everybody forgot how much the IAM Mechanics union pension plan pays, is it at still 300 dollars per service year.</p><p> </p><p>I agree that the Central States buyout was needed to help everybody represented by the Teamsters, but all of us UPS Central States participants should expect a better deal with the pension benefit. </p><p> </p><p>Also the concessions under master lanuage are primed for more eliminations of full time positions in favor of the low paying entry level part time ones. That three year feeder classification lay off clause and no improvements to protect your current hourly wage from classification transfer will be jammed right down our throats. Anybody who been here a while knows that score on what happens with bad lanuage.</p><p> </p><p>For all those high seniority part timers under the company plan out there who are close to retirement you better get some facts on when you will be eligible for medical coverages after you retire. Is it at age 57 or am I wrong on this one, if I am right do you really have an early retirement option or not?</p><p> </p><p>For those who were around during the "97" attempted take over, do you remember all the informational packets send to you trying to sell the pension and health and welfare packages. Compare it to the current data that you are getting with this new UPS/IBT pension plan, see anything different?</p><p> </p><p>This pension deal was strictly done to get the Central States fund back in the black. Again I am afraid that the teamster's members at UPS will again be asked to bite the bullet and sacrifice for the good of all the members. Not against that, but we are sure sick of getting the table scraps from our negotiating committees contract after contract, that good old "let them eat cake" mentality.<img src="/community/styles/default/xenforo/smilies/group1/sad.gif" class="smilie" loading="lazy" alt=":sad:" title="Sad :sad:" data-shortname=":sad:" /></p></blockquote><p></p>
[QUOTE="Cezanne, post: 256450, member: 5104"] Look again at the formula with this new pension plan. Now look at the Master lanuage for the UPS controlled part time pension plan, which will go up to 60 dollars per serivce year Aug "08". If I am right a part timer with 30 years in will get 1800 a month any age, from just skimming this UPS/IBT plan anybody who retires before age 57 with the same number of years in regardless of how many of them are full time will collect 2000 dollars, minus spousal deductions, taxes, and health insurance costs. They might say they have a 25, 30 and out at any age, but can anybody afford to leave and not be eligible for food stamps. This new pension plan is fine and danny if you can physically last till your late 50's and early 60's, but for those who been here a while consider the attrition rate of medical retirees or permanent disabilities that come with most jobs at UPS. I am afraid most of us will not be able to last till 57 and end up settling for table scraps. The figures quoted with this new pension plan are and will be so inferior to our Western Confernce brothers and sisters that it would be almost criminal. Has everybody forgot how much the IAM Mechanics union pension plan pays, is it at still 300 dollars per service year. I agree that the Central States buyout was needed to help everybody represented by the Teamsters, but all of us UPS Central States participants should expect a better deal with the pension benefit. Also the concessions under master lanuage are primed for more eliminations of full time positions in favor of the low paying entry level part time ones. That three year feeder classification lay off clause and no improvements to protect your current hourly wage from classification transfer will be jammed right down our throats. Anybody who been here a while knows that score on what happens with bad lanuage. For all those high seniority part timers under the company plan out there who are close to retirement you better get some facts on when you will be eligible for medical coverages after you retire. Is it at age 57 or am I wrong on this one, if I am right do you really have an early retirement option or not? For those who were around during the "97" attempted take over, do you remember all the informational packets send to you trying to sell the pension and health and welfare packages. Compare it to the current data that you are getting with this new UPS/IBT pension plan, see anything different? This pension deal was strictly done to get the Central States fund back in the black. Again I am afraid that the teamster's members at UPS will again be asked to bite the bullet and sacrifice for the good of all the members. Not against that, but we are sure sick of getting the table scraps from our negotiating committees contract after contract, that good old "let them eat cake" mentality.:sad: [/QUOTE]
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