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Brown Cafe UPS Forum
UPS Union Issues
Has the Teamsters sold you out?
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<blockquote data-quote="Bill" data-source="post: 199277" data-attributes="member: 5483"><p>First of all, I explained this in another post, but you apparently did not see it. UPS currently contributes $214 per week per employee, but we receive less than half. Last year, Central States had an investment return of 13.4% of the pension money. Assuming that UPS gives no additional funds into our pension (above the $214), our pension would be worth over $5,000,000 each after 30 years. The 13.4% investment return is a bit high, so assuming an annual investment return of 8%, we should have roughly $1.2 million dollars each. Currently, the Teamsters are giving us a fraction of that, because of our pension fund being only 47.2% funded. Why should we accept the problems (mismanagement of our funds) by the Teamsters and Central states? We worked hard for all these years to get a decent pension. It is our money, not the Teamsters. Why should we have to work additional years until the age of 65 to receive our pension?</p></blockquote><p></p>
[QUOTE="Bill, post: 199277, member: 5483"] First of all, I explained this in another post, but you apparently did not see it. UPS currently contributes $214 per week per employee, but we receive less than half. Last year, Central States had an investment return of 13.4% of the pension money. Assuming that UPS gives no additional funds into our pension (above the $214), our pension would be worth over $5,000,000 each after 30 years. The 13.4% investment return is a bit high, so assuming an annual investment return of 8%, we should have roughly $1.2 million dollars each. Currently, the Teamsters are giving us a fraction of that, because of our pension fund being only 47.2% funded. Why should we accept the problems (mismanagement of our funds) by the Teamsters and Central states? We worked hard for all these years to get a decent pension. It is our money, not the Teamsters. Why should we have to work additional years until the age of 65 to receive our pension? [/QUOTE]
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