is there any chance of 25 and out at any age next contract?

Discussion in 'UPS Union Issues' started by themidnightoil, May 28, 2011.

  1. I will have 25 years in at the end of this contract at the age of 44 and was wondering if there is any chance of 25 and out at any age? sticking it out for 30 years and $3000 seems so far away but am preparing my mind for it (just don't think my body is ready for it). was hoping the offer would be $2000 a month for 25 years at any age.

    UPS can then get rid of the old guys and get the young work horses who will skip their lunch and be more productive for them at half the wage and have less vacation time and less likely to get injured because they are not worn out.

    hell, the way thing are going, we might not even have a pension if UPS had their way.

    cheers
     
  2. hdkappler

    hdkappler Member

    well put in next contract.if they don't then vote no.
     
  3. Anonymous 10

    Anonymous 10 Guest

    I wish
     
  4. cachsux

    cachsux Wah

    We have it now. 25 and out, $100 for every FT year, $1000 per year bonus at retirement.
     
  5. Anonymous 10

    Anonymous 10 Guest

    Is that any age???
     
  6. TheKid

    TheKid Well-Known Member

    The key is the benefits. Like Cachsux said. . . I am paraphrasing . . you can retire whenever you want and get credit for your time but do you keep your benefits ? For us the two magic numbers are age 57 and 30 yrs of service.
     
  7. Re-Raise

    Re-Raise Well-Known Member

    You really don't think your body can handle working until the age of 49?

    And how did you start driving at 19? I thought you had to be 21 to be a full-time driver.

    I don't think the pension plan can survive long if people are retiring before they reach 50 and living into their 90s.
     
  8. upsgrunt

    upsgrunt Well-Known Member

    I'm in 710 and have never seen or heard this. Please post a link.
     
  9. TheKid

    TheKid Well-Known Member

    I think the $1000 per year is if you are eligble for retirement before 60 and you wait until you are 60
     
  10. upsgrunt

    upsgrunt Well-Known Member

    So if I drive till I'm sixty and have 38 years of service I will get a 38,000 bonus plus my pension?
    My plans may have just changed.
     
  11. TheKid

    TheKid Well-Known Member

    In my local you only get the bonus until medicare kicks in
     
  12. upsgrunt

    upsgrunt Well-Known Member

    I must be missing something, or not comprehending correctly.
     
  13. beentheredonethat

    beentheredonethat Well-Known Member

    I still get amazed that people complain and place the majority of blame on the pension with UPS. Up in New England, we pay into the pension fund based on hours paid (with a max of 40). I know back in 94 time frame, we contributed about $2.60/hr into the pension fund, now I believe it's about $5.00/hr into the pension fund. At $5/hr thats $200/week or $10,400/yr assuming you get paid 40 hrs (or more) each week. I know oversight of the pension fund is half employers, half teamsters. But for the employers, UPS only has a portion of the vote. Many other employers pay less then what UPS contributes. Also, think of all the part timers who UPS contributes for (In New England, Part time is in the same pension fund). but doesn't stay the 5 years it takes to vest. Think of all that money that goes into the pot. That money has been seriously mismanaged.
     
  14. Re-Raise

    Re-Raise Well-Known Member

    I have never heard about anything like this either Grunt. I am guessing Cachsux must be in 705 because of his screen name.
     
  15. upsgrunt

    upsgrunt Well-Known Member

    I always thought that 705 and 710 were basically identical contracts.
     
  16. Re-Raise

    Re-Raise Well-Known Member

    I have my copy of 710 s contract and pension plan info and I don't see anything like that in there. None of the guys who have retired lately at our center ever mentioned anything like that either.
     
  17. I started at UPS at 19 on preload and started driving at 21. I can handle working until 49, just want to be able to walk after I retire!
     
  18. Re-Raise

    Re-Raise Well-Known Member

    I think your 2 years on the preload are a separate pension and won't count toward your years in the teamster pension plan.

    I worked 7 years on the preload and I received a letter saying I would get about $400 a month from UPS beginning at age 65 for those years.

    Actually you may need 5 vested years to get anything for your part-time years.
     
  19. SlowRide80k

    SlowRide80k My other one is Red Tag'd

  20. SlowRide80k

    SlowRide80k My other one is Red Tag'd

    Go to http://tdu.org/pension-comparison none of this is totally precise but a good idea
    The New UPS Pension Plan
    $2,500 25-at-57
    $3,000 30-and-out

    The accrual rises to just $158.50 by the end of the contract.

    Pays the lowest pension benefits of any fund covering UPS Teamsters.
    Covers 44,000 UPS Teamsters in the Carolinas and Central and Southern Regions—the single largest group of UPS Teamsters covered by any plan.
    Western Conference (covers 11 Western States)
    “80-and-out” for UPS, freight, and many others (age plus years of service).

    A UPS worker, for example, age 52 with 28 years service, can retire with approximately $4,000 presently. The monthly accrual for 2010, at 1.2% of annual employer contribution, is about $198.

    New England
    Baseline early retirement: $2,500 for 25-at-57. $3,500 for 30 and out at 57. $150 for each additional year of service. But annual accrual has risen to the point that Teamsters under national agreements and others with a comparable contribution level can retire early at 30 years with approx. $4,000 per month. Beginning Oct. 2010, a supplement of $1,000 per month will be paid between the ages of 62 and 65, for those who wait till age 62 to retire.

    Washington, D.C. (Local 639)
    $5,000 (approximately) at present for 30-and-out at any age. The accrual for this year is $445, so pensions will rise quite a bit higher during the life of the contract.

    New York State
    $5,500 for 30 and out at any age. (Starting in 2011, there will be an age requirement, such as 30-at-55 or 30-at-57 to get the full $5,500.)

    Virginia (Joint Council 83)
    $2,500 for 25-and-out.
    $3,500 for 30-and-out.
    $4,000 for 35-and-out.

    West Virginia (Locals 175 and 505)
    $3,000 for 30-and-out.
    $4,250 for 35-and-out.

    Philadelphia Area
    $3,590 for 30-and-out. This will increase by $131 per year, thus will be $4,248 per month by 2013.

    New Jersey (Local 177)
    $3,700 for 25-at-55.
    $3,700 for 30-and-out at any age.

    New York City (Local 804)
    $3,100 for 25-and-out at any age.
    $3,600 for 25-at-55, or 30-and-out at any age.

    Chicago Area (Local 705)
    $2,500 for 25-and-out, with lump sum of $25,000; $3,000 for 30-and-out, with $30,000 lump sum; $3,500 for 35-and-out, with $35,000 lump sum. Option to reject lump sum and add $8 per year of service to pension (e.g. $3,240 for 30-and-out).

    Illinois and Indiana (Local 710 Plan)
    $2,800 for 25-and-out, $3,300 for 30-and-out, $3,800 for 35-and-out.

    Central Pennsylvania
    $3,100 for 25 years at age 57. Many Teamsters can retire with considerably more, depending on age and service. There is option of taking some of pension in lump-sum equivalent, which a majority of retirees choose.

    Western Pennsylvania
    $3,500 for 30-and-out. However, the annual accrual is presently nearly $300, and Teamsters can retire with approximately $4,000 presently. The accrual may well be reduced in the near future.

    Missouri (Local 688)
    $2,600 for 25-at-57; $3,100 for 30-and-out, $3,200 for 30-at-57; $100 extra for each of age beyond 61 and also for each year of service (eg $4,000 for 35-at-64).

    Baltimore (Local 355)
    $4,200 for 30 years credit at age 50 or more. The accrual has been cut, so this amount will be lesser for younger Teamsters, unless the accrual rate is raised back up.

    Hagerstown, Maryland (Local 992)
    $3,000 for 25-at-57.
    $3,600 for 30-and-out.
    $4,200 for 35-and-out.

    Wisconsin (Local 344)
    $2,000 for 25-and-out at any age; $3,000 for 30-and-out; $101 more for each additional year.

    Central States
    (covers Carolinas, the South and much of the Central Region, but no longer any active UPS Teamsters)
    Teamsters in the top class (including freight, carhaul and others) with 30 years can presently retire with $3,200 at age 62, or $2,950 at age 57. 25-at-57 is presently $2,450. The accrual will reach $196 per year by 2012, so Central States pensions even for early retirees will be greater than the UPS Plan.