Pension increase

Yakatak

New Member
Does anyone know when the increased pension will be implemented?
I retired Feb 1 '14, have been notified TeamCare took effect June 1 with the enhanced Dental and Vision, but no mention of the pension.
 

retiredTxfeeder

cap'n crunch
I got a letter in the mail last week stating that due to the newly ratified contract, My pension amount has been increased, but I didn't read the whole thing, the CFO of my family intercepted it. I'm assuming that was what it was about.
 
I retired last month and contacted my pension department. They told me they have to recalculate everyone that retired from Aug 1, 2013 to April 24, 2014. They don't know what the time span that would take. They told me my monthly pension will increase a little bit but don't know when it will happen.
 

Wally

BrownCafe Innovator & King of Puns
Local 177 got a boost, but we put half of our raise back into the fund. Maybe someone knows the exact numbers but it is around $4100 a month minus the new health care costs. In reality, when you factor in the new healthcare fees, it is a wash.
 

flyersfan

Member
Speaking of increases,what about our union dues going up?,makes me sick to my stomach!It went up $2,not the normal $1 is usually does when we get our union raise.I guess it'll go up again on Aug 1st when we get another .70.Some guy who's been there for over 25yrs is now paying $70 a month!Remember the days when we all paid $25 a month?Those days are long gone.Many people are pissed off about how the contract was suddenly passed,but it's all about the power of money,the customers like Amazon who threatened us many times if the contract wasn't passed.Speaking of the new contract,when will we receive it?They're probably still tweaking it as I speak.
 

sven

Member
The problem with the Local 177 pension fund is that were in a multi-employer fund with locals NOT associated with UPS and in some cases are no longer functioning. Meaning that before the "multi-pension plan" we were fully funded. Now its underfunded as those locals collecting pensions no longer are active. Its a very gray area, and I hate to agree with the company, its a mistake to have our pension contributions going to locals not associated with us.
 

The Milkman

Well-Known Member
Local 177 got a boost, but we put half of our raise back into the fund. Maybe someone knows the exact numbers but it is around $4100 a month minus the new health care costs. In reality, when you factor in the new healthcare fees, it is a wash.
Exactly what I was trying to tell my old co workers , awash when you need the increase to cover your new improved medical plan costs which are more than likely going to increase next great contract
 

rod

Retired 22 years
My dues when I first started were around 6 bucks. (so far I have received $468,000 back in pension).
 

Work safe or not at all.

Well-Known Member
Speaking of increases,what about our union dues going up?,makes me sick to my stomach!It went up $2,not the normal $1 is usually does when we get our union raise.I guess it'll go up again on Aug 1st when we get another .70.Some guy who's been there for over 25yrs is now paying $70 a month!Remember the days when we all paid $25 a month?Those days are long gone.Many people are pissed off about how the contract was suddenly passed,but it's all about the power of money,the customers like Amazon who threatened us many times if the contract wasn't passed.Speaking of the new contract,when will we receive it?They're probably still tweaking it as I speak.

My dues are $75, and I'm part time, man up.


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