Our Pension program is taking a hit at UPS !

Discussion in 'UPS Freight' started by wildgoose, Dec 7, 2006.

  1. wildgoose

    wildgoose WILDGOOSE

    Here`s the latest news about the pension groups that are covered by the IBT ! Western conference will be reducing the total amount of $ going towards your account. New York is in the works to reduce by 30% starting Jan 1st. Looks like this is the way of the pension plans. Couple of years back Central States took their hit and no one else thought this would happen to them. Reality is setting in. Don`t wait for the train to fall off the tracks before you try to fix things ? Cause that is what ups will be facing for the future trying to put the train back on a right track. It is a uphill battle !
     
  2. littlebrother

    littlebrother New Member

    You're not counting only on your Pension for retirement are you?

    Here's some more questions, Would you be better off without the IBT. Maybe staying non Union? Are you saying that there's another alternative, I mean, that has a track record or that has represented members to get feedback from? Who is going to put the train back on the right track? Apwa?
     
  3. tae111

    tae111 Member

    I can't believe that in a time when the Teamsters are trying to organize UPS Freight they would agree to a 30 percent pension accural for local 804 members in NewYork. Is this what UPS Freight people have to look forward to IF They become Teamsters???
     
  4. wildgoose

    wildgoose WILDGOOSE

    Yeah its a shame if any of you guys were to take the bait ! The representation is what every teamster was proud of way back when but not the current one for sure. Look at UPS Pilots have control of their own pension which means they have control of their destiny. Teamster pull the strings- When you retire you have to summit any jobs you take and see if they will allow you to work them and trucking is not one of em ! If you retire at 57 your insurance for your spouse will be around $1000 ! You get caught doing something not authorized they will recind your pension ! They have increased the retiring age to 62 for us and that will probably go higher. They make it impossible to retire and i see it with guys that are 61 + years that are still working. Your going to pay out of your pocket for this representation you must be nuts ! Teamsters want to stick around they are going to have to change their way of thinking but i don`t expect that to happen and you know what happens to business that have no flexability they end up in the dirt !
     
  5. Teamster251

    Teamster251 PSST Drvr Local 251 PRORI

    How about some links to this so-called news.

    All I see is your words and opinions typed in your post.

    How about some facts to back it up so others can form a better opinion of what you're try to convey.
     
  6. Teamster251

    Teamster251 PSST Drvr Local 251 PRORI


    Is this what UPSF employees have to look forward to if thye remain non-union with UPS incontrol of thier pension.

    Accrual rates are rates paid by the employer on your behalf toward your earned pension.

    UPS is the villian here not the Teamsters. What gives UPS the right to break an agreement on paid pension accrual rates in the middle of the contract?

    Spin it anyway you want, UPS is reducing the pension not the IBT fund which governs your pension.

    T251
     
  7. wildgoose

    wildgoose WILDGOOSE

    Hey Teamster251 here is a link via Bloomberg ! Please read this. UPS Uses Political Clout to Press for Cuts in Pension Benefits
    The local 804 drivers post what they have coming down the pike. That was all future accruals will be at 70%. The meeting will be upcoming weekend. If the teamsters thats companies that went under should be getting a pesnion for the amount of time put in after 57 without insurance or 62 with insurance at a rate equal to what we will have to pay. $500-$1000. If paying them screws us out of our pension it was abvious the union did not negotiate enough for those and us at UPS. Planners of pensions sit by for 2 years of dropping stockmarket and watch our funds slowly dwindle away ? Shows me maybe they were incompetant in the first place. Bottom line is that the teamster negotiated -suprervised - managed the pensions $ for our best interest and now the Montster is showing his head ! Teamster251 are you in the New England Fund ? If so i hear that fund is approaching the 40% mark ? Obvious this forum is but of a few concerned employees vieing for a consistent plan to rely on. I see nothing wrong with that.
     
    Last edited: Dec 10, 2006
  8. mittam

    mittam Member

    Hoffa was re-elected there will be no "fixing" to the pension, Time to jump ship and join the APWA, THIS IS OUR ONLY CHANCE TO GET WHAT IS OURS!!
     
  9. littlebrother

    littlebrother New Member

    mittam, why do you think that Apwa will do any better? What kind of bargaining power does the Apwa have that the Teamsters don't? What if the Apwa saves your pension but comes up short on your pay? Or Medical Benefits for that matter? What about everything else but the pension? I think dear old dad will only be pushed so far. Your going to have to give up something with the Apwa. Heck, why not give up the pay, I don't care if I make 15.00 an hour, just as long as I have my pension. Heck, I'm close to retirement who cares about my fellow younger employees, just as long as I have my pension.

    I'm not saying the teamsters are perfect but where would the employees be at UPS without them, as far as pay, benefits, ect... Where was the Apwa pre-2004? Oh thats right, Van didn't come up short of revisions until 2004. They were good enough until then but now the grass is getting green in your eyes (I don't see anything but weeds) and everyone is abandoning ship.

    Do you guys think a split in representation is good for the employees? I think the company would love to see this, It only benefits the company. I can see them laughing now, Employees divided, Perfect!

    Stick together, One Company, One Union.
     
  10. any122

    any122 adirondack man

    If you think that pension cuts are all thats going to get chopped I wouldn't speak to soon .More than likely you will also be paying something for health insurance.So you keep saving you may have to dip into them savings to pay for some medical bills.
     
  11. littlebrother

    littlebrother New Member

    Very negative outlook there, any. Maybe this company isn't good enough for you, My advice is to quit. Save yourself the misery of being one of the best paid workers around.
     
  12. Teamster251

    Teamster251 PSST Drvr Local 251 PRORI


    Have you acually read the Bloomberg article?

    I don't think you have. Read it again, don't skim though it.

    As far as the rest of your post, what are you trying to say or ask, it's all jibberish.

    Slow down and breathe.

    Do you know what pension accruals are and who's reducing them? It's certainly not the Teamsters.
     
  13. JonFrum

    JonFrum Guest

    Try here:http://www.tdu.org


    Strictly speaking, UPS is only responsible for contributing money at the negotiated hourly rate as agreeded upon in the UPS Contract. It's the fund trustees who set the accrual rates, and they can cut them if they feel the fund's financial situation demands it. By law, they can usually only cut future accrual rates, not those already earned. Of course, UPS does ratify the actions of the employer trustees, and in some funds, one or more trustees are actually UPS executives.
     
  14. Hawaii Five O

    Hawaii Five O Hawaii Five O

    As a ups freight driver; I am looking to retire in 6 years with 30 yrs service at the age of 58. I also belong to the 401 k plan which they match 50% in Ups stock. The company gives me credits for my years of service to pay for my medical benefits in retirement. According to my calculations this will pay for about half of my copay amount. How does this compare to what the teamsters offer in the master freight agreement and or the ups parcel contracts?
    I have also been reading a lot of threads about what happened to the CENTRAL STATES fund in relation to what is going on with local 804 in NY. What changes in the central states fund actually took place? This would be the fund that I would be in should we go union.
     
  15. Hawaii 5-O
    If you are going to join Central States then you better adjust those retirement plans from 58 to 85.
     
  16. Browser

    Browser Guest

    Guys,
    Let's clarify one thing that you don't seem to understand. Your pension program is taking a hit because of how it is set up and who draws off of it. UPS meets their obligation of depositing money on your behalf into the Teamster pension fund and then the Teamster pension fund takes 60% of the money that UPS put in for you and dishes it out to non-UPS teamsters who are also in the multi-employer fund, the other 40% is what you will actually earn from the fund. No matter what anyone else may say, that is the plain fact! UPS has nothing to do with the problems with your fund.
     
  17. wildgoose

    wildgoose WILDGOOSE

    We know that ! The teamsters took it upon themselves to take care of their cousins before taking care of their brothers ! The Government washed there hands of responsiblity until last couple months vote. Now they want to fix the mess the Teamsters leadership has gotten us into . The company has told them (teamsters) to fix this by increasing the multiplyer and eliminating the 25 & 30 outs at any age. Expect to keep seein reductions on the payouts because of the mismanagement of our Brothers ! Notice no reductions for the BA`s and up + the best increase in wages in a long time !!!!!!!!! Not to say about their insurance but remember we need the boys representation ???????
    How long does this have to take place for you to see the light ? !
     
  18. JonFrum

    JonFrum Guest

    Visit the Central States website. . . .
    Central States Funds | Home
     
  19. kenco80233

    kenco80233 New Member

    It is everyones problem now?
     
  20. trickpony1

    trickpony1 Well-Known Member

    Sorry to beat a dead horse but........
    what about the stories circulating about how our company had a representative sitting on the pension board that knew, or should have known, about the affairs of the pension and the impending "train wreck"?