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Brown Cafe UPS Forum
UPS Union Issues
Hoffa's secret bargaining with UPS!
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<blockquote data-quote="local804" data-source="post: 151551" data-attributes="member: 1123"><p>Is it my understanding you have no 25/30 out anymore ?</p><p> What is the age of retirement without any penalties now ? Did you folks know that you were underfunded to a tune of 59% ? Central States is somewhere in that neighborhood of stability !</p></blockquote><p></p><p>Yes, I am very well aware that the fund is at 59% at this moment. We still do have a 25 and out but ofcourse it will be at a lower rate. All previous pension years acrued will stay intact, the 30% decrease stated January 1st. My 22 years will be full pension years towards my 25 with the remanding 3 at 70% each year. IMO, at our local level, we would have never had this problem if we had a 3-5 year contract. Plus, we still have negotiations(at a local level) for our contract when this one is up. It will get interesting, just watch and see.</p><p>[/QUOTE]</p>
[QUOTE="local804, post: 151551, member: 1123"] Is it my understanding you have no 25/30 out anymore ? What is the age of retirement without any penalties now ? Did you folks know that you were underfunded to a tune of 59% ? Central States is somewhere in that neighborhood of stability ![/QUOTE] Yes, I am very well aware that the fund is at 59% at this moment. We still do have a 25 and out but ofcourse it will be at a lower rate. All previous pension years acrued will stay intact, the 30% decrease stated January 1st. My 22 years will be full pension years towards my 25 with the remanding 3 at 70% each year. IMO, at our local level, we would have never had this problem if we had a 3-5 year contract. Plus, we still have negotiations(at a local level) for our contract when this one is up. It will get interesting, just watch and see. [/QUOTE]
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