More gloom and doom..CS is tanking

raceanoncr

Well-Known Member
Ok.

Then you retired under the new UPS plan.

Why would you be concerned about Central States ?

Any cuts or default.... is made up by the company.


Help me out.



-Bug-


For one thing, I'm NOT concerned about Central States. I'm not the OP. I've got my other plans and investments.

For another thing, yes, I DID retire under the UPS plan. That is, until I turned 65, then, only the amount of years that I worked at UPS once they paid into CS was paid, is paid by UPS. The rest is paid by CS now. So now, I get about $500 from UPS, the rest from CS.

AND, I see NOWHERE where UPS is going to guarantee the make-up difference. Oh, yes, I heard that when they first paid that $6 Bazillion, that if CS goes bellyup, then "We'll take care of our people". I've heard it over and over but ain't seen it in writing, yet.

If somebody CAN provide me with the exact words that UPS will make it up, I'll be happy to read it but, til then, I DON'T think I'm gonna take em at their word.
 

oldngray

nowhere special
For one thing, I'm NOT concerned about Central States. I'm not the OP. I've got my other plans and investments.

For another thing, yes, I DID retire under the UPS plan. That is, until I turned 65, then, only the amount of years that I worked at UPS once they paid into CS was paid, is paid by UPS. The rest is paid by CS now. So now, I get about $500 from UPS, the rest from CS.

AND, I see NOWHERE where UPS is going to guarantee the make-up difference. Oh, yes, I heard that when they first paid that $6 Bazillion, that if CS goes bellyup, then "We'll take care of our people". I've heard it over and over but ain't seen it in writing, yet.

If somebody CAN provide me with the exact words that UPS will make it up, I'll be happy to read it but, til then, I DON'T think I'm gonna take em at their word.

I think UPS promised to cover any pension deficits until 65 but not sure of the exact wording.
 

reginald95

Well-Known Member
Damn. I guess I should up my 401k contributions. I'm at 25 percent as it is right now. Just started contributing last year though.
 

Johney

Well-Known Member
How many people can actually do 40 yrs in that package car? Takes a special breed to do 30, might be pretty tough for 40.
Maybe that is the ultimate goal. Get rid of us all long before retirement then there will be no worries for the future Teamsters. If you don't need to worry about paying future employees retirement because of turn over then I guess it's a win-win for both UPS and the Teamsters.
 

bbsam

Moderator
Staff member
The really sad thing is the "ME" generation that is up and coming will not do much better for the current retires or the future ones.
But then again, why should they? Look at the debt and low wage economy we're handing them. They probably won't see Social Security either so maybe we really do have it coming.
 

bbsam

Moderator
Staff member
Maybe that is the ultimate goal. Get rid of us all long before retirement then there will be no worries for the future Teamsters. If you don't need to worry about paying future employees retirement because of turn over then I guess it's a win-win for both UPS and the Teamsters.
...and thus all the new drivers on the sidelines?
 

Johney

Well-Known Member
But then again, why should they? Look at the debt and low wage economy we're handing them. They probably won't see Social Security either so maybe we really do have it coming.
I agree. I can tell you now that if there was ever a strike, far too many young guys in our building would not honor it.
 
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