Is Central States pension fund ready to go under?

[UPS FREIGHT WORKER]

The money in the cen states will remain in the cen states. The apwa will not be able to touch it! All vested employees will be locked in at the time a new union took over. Then you would have to start all over again with a pension fund from scratch! If you have, say 10 years in the cen states, you would be vested for that 10 years. Just the same as if you left your job at UPS after 10 years. The apwa has no legal rights to one penny in the cen states. It would have to start from scratch. Any apwa claim to cen states present funds is 100% false.

 

[satellitedriver]

As I have stated before pension cuts will not change my stance. Pension cuts are becoming a way of life and will be a way of life for years to come sadly enough. For me to back the APWA I would want to see some proof that they have some experience, or any experience at what they claim they can do for us. The APWA itself doesn't even have to have a contract with another company, just someone involved with them that has negotiated labor contracts succesfully in the past. The APWA also needs to release its plans for other aspects of our jobs like our vacations, wages, healthcare, etc. A good retirement is important, but I am not just concerned with the future, I am concerned with what I will have now. Finally, if the teamsters were to negotiate my wages and or healthcare levels down in order to keep their pensions afloat I might be a little more open to the idea of a non-experienced union taking over for them.



The APWA has not even begun to propose such an option. Their only proposal is to keep the current dinosaur alive that we call a pension plan. Better ideas need to be put forth, not old ones in new clothing.

The APWA has proposed an option that applies all money contributed by UPS to go only to UPSERS. A pension plan can work. I will have to get back to you on my theory of contributions per employee and the annuity paid.
Simply put, money given over time per employee should have no negative effect on payout to said moneys invested over time, no matter what the contributions are in the future for new employees.
The dinosaur that is eating the workability of the teamster pension plan is the multi-pension employer concept.
Robbing Peter to pay Paul sums up the teamster pension logic.
You are putting forth a better idea and I agree with it, but it is one that will never be embraced by the teamsters.

 

[sawdusttv]

I don't think anyone every asked the teamsters to embrace anything.
The APWA is offering the UPS employees better representation and a stronger financial future than the teamsters have been willing to give us for many years now.
The teamsters want us to fix the problems that they created by cutting our pension and health care, when in fact, all that will do is prolong the agony.
The teamsters don't want to fix anything, they want us to fix the problems.
The APWA wants to stop the bleeding and put us back on the right track to a better work environment, and stong finacial future.

The teamsters don't even show any concern that our benifits are being raped. The only thing we here from them is "oh, well! it's happening to everyone!"
All of you that still have there benifits in tact better listen. Do you hear what they are saying?

" IT"S HAPPENING TO EVERYONE"

Which means that they are coming for yours next.

The teamsters are like the dog that turns on you after being a loyal pet for years. He has already bit some people, and it is only a matter of time before he bites you too.

 

[Bill]

Baseless huh?

Go to this site and scroll down to the employee section, and pay very close attention to the number of retirees GM has versus active workers. GM has been having money trouble in recent years and have pointed their trouble directly at their pension requirements. GM has about 142,000 active employees, that includes both production and white collar employees. They have approxomatly 460,000 retirees. Thats almost 3 retirees per one active employee.

I will leave the social security stats for you to look up, but everything I have read has stated that when SS was first concieved there were 16 active workers for every one person on SS. After the bulk of the baby boomers have retired there will be less than 4 workers per one person on SS.

I have already put forth a better plan, and thats putting those pension contributions into my 401k and let me decide what to do with it. I will make better use of those funds than both the IBT or the APWA.

What does the pension of GM have to do with the pension of UPS employees? There is a big difference that you overlook. GM controlled its employee pension plan, and they manipulated it any way they wanted. However, the APWA plan differs such that the company (UPS) only contributes money into a pension plan, but is managed by the union (whether it be the Teamsters or the APWA). The big advantage of the APWA plan over the Teamsters is that all the money would go to the employees of UPS, whereby under the Teamsters, our money is shared with all the other Central States employees, thus we receive only 40% of our money, or less every year that we remain in the multipension plan. Currently, UPS puts $214 per week per employee into the pension plan, but we are credited only $86 per week. Why should we accept this?

 

[Bill]

Neither side offers that so neither side is showing real interest in attacking the real problem.

The only solution that the Teamsters offer is making more cuts to our medical and pension plans.

 

[Bill]

Your plan for the pension is a great and better idea.
It should be the money contibuted for pension and benefits should only go to those that earned them. On this point, we are in total agreement.
Past,present and future teamsters proposals for UPS retirement and benefit plans will never allow UPSERS to get a 100% of the monies contributed on their behalf.
APWA, at least gives us this option.
Numbers be damned ,about who is contributing and who is receiving at other companies.
As long as the monies go only to past,present and future UPSERS,we of UPSERS have a measure of control.
The teamsters will never get give up the control of these monies. It is their lifeblood.

The only point of contention you seem to express is that the APWA has no history in bargaining wages and benefits.
The teamster history on bargaining wages is great.(Only because that is what dues are based on.)
Their choice of pension and health benefit providers(and it is their choice not ours)has been less than stellar.
If we as UPSERS screwup with the money provided by UPS, then it will be our own fault.
If we as UPSERS give away the money to other teamsters provided by UPS, then it really will be our fault.
SS will pay me almost double (net) than 25yrs with CS.

When the APWA takes control, and it is time to negotiate a new contract, they will hire people who have experience doing this line of work. The Teamsters have experience, but keep selling us out. Frist the part-timers, who made more money 21 years ago, then the full time drivers 22.3 fiasco, and now the rest of us having to endure yearly cuts in our benefits that THEY bargained for. When is this going to stop? With no additional money going into the medical benefit fund, additional cuts are on the way in the form of higher deductibles and co-payments.

 

[Bill]

The money in the cen states will remain in the cen states. The apwa will not be able to touch it! All vested employees will be locked in at the time a new union took over. Then you would have to start all over again with a pension fund from scratch! If you have, say 10 years in the cen states, you would be vested for that 10 years. Just the same as if you left your job at UPS after 10 years. The apwa has no legal rights to one penny in the cen states. It would have to start from scratch. Any apwa claim to cen states present funds is 100% false.

Where do you get this nonsense from? When the APWA takes over, Central States will have to give over control of the pension money that is prorated for UPS employees.

 

[Bill]

I don't think anyone every asked the teamsters to embrace anything.
The APWA is offering the UPS employees better representation and a stronger financial future than the teamsters have been willing to give us for many years now.
The teamsters want us to fix the problems that they created by cutting our pension and health care, when in fact, all that will do is prolong the agony.
The teamsters don't want to fix anything, they want us to fix the problems.
The APWA wants to stop the bleeding and put us back on the right track to a better work environment, and stong finacial future.

The teamsters don't even show any concern that our benifits are being raped. The only thing we here from them is "oh, well! it's happening to everyone!"
All of you that still have there benifits in tact better listen. Do you hear what they are saying?

" IT"S HAPPENING TO EVERYONE"

Which means that they are coming for yours next.

The teamsters are like the dog that turns on you after being a loyal pet for years. He has already bit some people, and it is only a matter of time before he bites you too.

Well put!!! It is just a matter of time before everyone is hit with some cuts.

 

[UPS FREIGHT WORKER]

Your the one who speaks nonsense. The money in the pension is already allocated and can not be touched. Only future $ would go into a new pension fund. So, to state otherwise is not true. I know this blows your pension plan out of the water, but the apwa would never get control over the present cen. states funds. Sorry. All employees would be vested in the cen. states according to service years. The new fund the apwa proposes would start off fresh. The only way to get that money would be to get the ok of UPS and the teamsters pension board. Good Luck! The apwa will never have enough support to do that!

 

[mittam]

Your the one who speaks nonsense. The money in the pension is already allocated and can not be touched. Only future $ would go into a new pension fund. So, to state otherwise is not true. I know this blows your pension plan out of the water, but the apwa would never get control over the present cen. states funds. Sorry. All employees would be vested in the cen. states according to service years. The new fund the apwa proposes would start off fresh. The only way to get that money would be to get the ok of UPS and the teamsters pension board. Good Luck! The apwa will never have enough support to do that!

don't say never

 

[nospinzone]

Your the one who speaks nonsense. The money in the pension is already allocated and can not be touched. Only future $ would go into a new pension fund. So, to state otherwise is not true. I know this blows your pension plan out of the water, but the apwa would never get control over the present cen. states funds. Sorry. All employees would be vested in the cen. states according to service years. The new fund the apwa proposes would start off fresh. The only way to get that money would be to get the ok of UPS and the teamsters pension board. Good Luck! The apwa will never have enough support to do that!

Worker, please review

The APWA cannot just takeover the $50 billion now in Teamster pension plans just because it may represent UPS workers.
...... APWA could only stake claim to the portion of the funds attributable to contributions and accrued interest made on behalf of UPS members. This claim is described in the 1st Circuit US Court of Appeals decision in the NETTIPF argument in 1993 where the court said "The employees can automatically entitle themselves to a share of fund assets should the matter become so critically important to them that they take the drastic step of changing collective bargaining representatives (i.e., of leaving the Teamsters)." (pg23)

Bottom line.....We worked for the money, and the courts recognized our right to maintain control of the money should we choose to change CBA.

 

[gambler]

dont say never

 

[gambler]

glad you posted thatnospinzone some people just talk to here themself talk

 

[satellitedriver]

I never say never, unless I say never again will I be a teamster.

 

[sawdusttv]

Amen To That!!!!!!!!!!

 

[brett636]

What does the pension of GM have to do with the pension of UPS employees? There is a big difference that you overlook. GM controlled its employee pension plan, and they manipulated it any way they wanted. However, the APWA plan differs such that the company (UPS) only contributes money into a pension plan, but is managed by the union (whether it be the Teamsters or the APWA). The big advantage of the APWA plan over the Teamsters is that all the money would go to the employees of UPS, whereby under the Teamsters, our money is shared with all the other Central States employees, thus we receive only 40% of our money, or less every year that we remain in the multipension plan. Currently, UPS puts $214 per week per employee into the pension plan, but we are credited only $86 per week. Why should we accept this?

For someone who claims to be college educated you sure do lack what should be a basic level of reading comprehension.

What that has to do with UPS pensions is exactly the issue all pensions are facing. More retirees, and less active contributors. It has happened to GM, and with the baby boomers making up a large percentage of todays active workforce will make it even worse. Wake up fool, pensions are a relic of the past, not a viable option for the future.

 

[nineball1]

i can see this guy is brain washed

 

[30andout]

i can see this guy is brain washed

How can you wash something you don't possess.

 

[sawdusttv]

UPS has thousands more active employees than they do retirees. It is all the other companies that tip the scales in the wrong direction.
All the more reason to get out and start our own pension fund!

 

[brett636]

UPS has thousands more active employees than they do retirees. It is all the other companies that tip the scales in the wrong direction.
All the more reason to get out and start our own pension fund!

I wish I could remember where, but I did read that near 50% of all UPS drivers are nearing retirement. The bulk of those will be retiring between the years of 2008 and 2013. Thats a lot of drivers sucking down that brand new APWA pension. Not to mention some of them may be drawing on them for 20 years or more.