New Mgt Pension Rumor

Discussion in 'UPS Partners' started by dumbsup, Jan 3, 2007.

  1. dumbsup

    dumbsup Member

    Rumor has it that there is a townhall mtg in Corp from 3-5 on Friday announcing the pension buyout for all. Anyone hear this?:ohmy:
     
  2. tieguy

    tieguy Banned

    If so and someone could send me a private message with the CC number I would be very gratefull.
     
  3. There was a "Town hall" meeting scheduled for Friday. According to an email this morning it has been cancelled but will be rescheduled at a future date/time TBD.
     
  4. waldo911

    waldo911 New Member

    I'm not holding my breath for this one.
    So many rumors, so few results. :lol:
     
  5. nhguy

    nhguy New Member

    Is there anybody out there that was a part of the SCS buyout that might be able to share some light on what the package was to leave. Was medical included, was there a formula used to calculate your payout? How many installments for the payout and how far apart before each payment. Sure would like someone to shed some light on this VSBO. Any information would be appreciated.
     
  6. Tarnsman

    Tarnsman Guest

    I heard that only 350 people took/are taking the December 2006 offer....That offer must have been quite a low-ball offer....
     
  7. The Corporate SVSO eligible individuals have until the end of January to elect to accept the offer. The amount of incorrect information posted and commented on never seases to amaze me.
     
  8. speeddemon

    speeddemon Guest

    How about a buyout for some of us drivers who actually could use it due to our backs being shot.
     
  9. nhguy

    nhguy New Member

    Bucket of Boltz,

    Please shed some light on us. If you know that information is inaccurate, please feel free to correct us. I have often found that there is a lot of inaccurate information on this web site, however, there is usually someone who will step forward and set the record straight. Anything you know about the VSBO that was offered would be greatly appreciated.
     
  10. Cezanne

    Cezanne New Member

    Can imagine that those affected where kindly reminded not to reveal the pay out to the general public or fellow employees, so don't expect any correct information off this forum. If they are corporate and above the grade of district managers they will be well taken care of and to what benefit would it be to them to reveal anything. Guys you should know the mindset involved (me, myself and I ) are their main concerns devil with the rest. This is from an union hourly so if I am incorrect with my assessment any management employees can add their two cents in.:cool:
     
  11. upsis

    upsis Gold Member

    anything new on this ?
     
    Last edited: Jan 10, 2007
  12. I.P. Daily

    I.P. Daily Guest

    No changes announced. Town hall meeting postponed. Participation weak. Memo sent inferring reductions and transfers will occur if projected reductions are not met. 15 days to deadline for participation. More particiants will come forward soon.
     
  13. nhguy

    nhguy New Member

    Is this a dead issue? Haven't heard even a whisper since the SCS buyout was offered? With all the rumors that were running around out there, sure would have expected to see more changes. What about the pension, the retirement age, the downsizing ! Has this board and it's posters lost all it's sources or were the leaking parties reprimanded????

    It sure is quiet!!!!!!!!!!!!!!!!
     
  14. Dfigtree

    Dfigtree New Member

    From my point of view, I would advise you to plan for the buyout. Do you know what your COBRA benefits will be? For how long? Do you have a 3 to 6 month emergency fund to cover monthly expenses? Do you have a marketable skill? Do you have life or disability insurance (term, please) to protect your kids college after UPS coverage lapses? Plan for the woist. Hope for the best.

    FP
     
  15. Dfigtree

    Dfigtree New Member

    Plan for the worst. Hope for the best. Do you know what your COBRA coverage will be? For how long? Do you have a 3 to 6 month cash emergency fund for monthly expenses to tide you over? Do you have life (term, please) and disability insurance for the days after UPS coverage stops, to protect for your kids college education, etc. Do you have a marketable skill? If you think these redneck rumors are just lies, they might just be lying through their tooth. Or, they might be telling the truth. Without a financial plan, bankruptcy comes as a complete surprise.

    FP
     
  16. There is/was no "SCS buyout". Despite the PR spin to the contrary, the buyout was clearly aimed at high grade level Corporate dead wood. Of the 650 people eligible for it only 100 or so were from SCS. The offer doesn't sound too good. The only people who will take it are the fat cats who are hanging around for retirement medical. If they take the buyout their pension is reduced a lot, but they've got enough cash already that they don't care. Anyone who cares about losing most of their pension isn't going to take it. All the nonsense about duplication between SCS and Corp is pure PR spin.
     
  17. BSUUPS

    BSUUPS New Member

    look for an announcement on Jan 26th OR just before 1st QTR earnings (late April). There is truth to this one. Depending on your years vested in the plan you may find it to your liking depending on your aversion to risk