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UPS Retirement Topics
Has IBT/CS been a wise steward of our pension?
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<blockquote data-quote="sawman" data-source="post: 53014"><p>WKmac, </p><p> You bring up a good point and I see where the people in single employer funds would be agains this pay freeze. </p><p>But, the majority are in multi-employer fund, just a small portion are in funds that are in good standing. </p><p> </p><p>I for one would not be apposed to excluding these small group from the pay freeze and only freeze the employees that are in multi-employer fund all be it we might have to up the two years to two and a half or three years, but I for one think that it would still be worth it. That is assumimg that we foot the whole bill. UPS may pick up a portion of it and that would shorten the time of the pay freeze. </p><p>As far as the few and I do mean few people that retired back in the 70's (we had one at our building that left with 25 years and draws a little over 500.00 a month), there were not enoug hof them to make much difference. The rest of us have had money paid in since day one, so no one carried us, we paid our way. </p><p> </p><p>Furthermore, if you check, every piece of paper that UPS has given you since day one that talks about your earnings, it states hourly wage plus insurance, plus pension = your salary. Your pension and insurance are a part of what you make each day. UPS even goes as far as totaling these together and gives you a lump sum of what your job is worth. So, the pension money is ours not the Teamsters or CS or any other pension funds.</p></blockquote><p></p>
[QUOTE="sawman, post: 53014"] WKmac, You bring up a good point and I see where the people in single employer funds would be agains this pay freeze. But, the majority are in multi-employer fund, just a small portion are in funds that are in good standing. I for one would not be apposed to excluding these small group from the pay freeze and only freeze the employees that are in multi-employer fund all be it we might have to up the two years to two and a half or three years, but I for one think that it would still be worth it. That is assumimg that we foot the whole bill. UPS may pick up a portion of it and that would shorten the time of the pay freeze. As far as the few and I do mean few people that retired back in the 70's (we had one at our building that left with 25 years and draws a little over 500.00 a month), there were not enoug hof them to make much difference. The rest of us have had money paid in since day one, so no one carried us, we paid our way. Furthermore, if you check, every piece of paper that UPS has given you since day one that talks about your earnings, it states hourly wage plus insurance, plus pension = your salary. Your pension and insurance are a part of what you make each day. UPS even goes as far as totaling these together and gives you a lump sum of what your job is worth. So, the pension money is ours not the Teamsters or CS or any other pension funds. [/QUOTE]
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Has IBT/CS been a wise steward of our pension?
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