Pension Plans

Discussion in 'UPS Union Issues' started by 30andout, Nov 13, 2003.

  1. 30andout

    30andout Guest

    I am in Central Ohio, is anyone else having problems with retirement because of the UPS retirement plan and central states not being recripical of each other. Or do you know of anyone who is??????
     
  2. dannyboy

    dannyboy Guest

    ITs pretty much a problem everywhere.

    d
     
  3. wily_old_vet

    wily_old_vet Guest

    I'm confused. What does UPS retirement plan have to do with a teamster pension?
     
  4. 30andout

    30andout Guest

    Wily I have been with UPS for 31 years, 14 as a fulltime clerk and 17 as a driver. When I changed job classes management told me it was all put together. Now its time to go and they say the first 14 years would not count. And I paid union dues the whole time.
     
  5. wily_old_vet

    wily_old_vet Guest

    Sorry to hear that. I've got 30 in but the first five were as part time loader, part time sup, and full time clerk. I was a clerk for a couple of years and it was not a union position so that's why I was confused. Hope your situation gets cleared up. What's the company telling you about all this? I'm guessing it's the union that's saying you've only got 17 years in.
     
  6. 30andout

    30andout Guest

    The Union says there nutral, Central States says I have 17 vested, but I worked for UPS 31 and there only giving credit for 14.
     
  7. muncher

    muncher Guest

    This is the #1 reason UPS hates full time jobs.
    thet make people work part-time for full time hours alot, and don't pay a cent into the penion fund, the next time you wounder whey it takes 10 years for a real full time job at UPS, thats why
     
  8. deliver_man

    deliver_man Guest

    <font color="ff0000">thet make people work part-time for full time hours alot,</font>
    <font color="000000"> I'm gonna give you the benefit the doubt (not that you rate it) and assume that you meant to type "they" instead of "thet". Having said that, I wasn't aware that UPS "make people" do anything. It's a free country, if you don't like working here why don't you just move along and find something that you enjoy? I'm sure that somewhere out there is a paper hat and a spatula with your name on it.</font>
     
  9. 30andout

    30andout Guest

    I beg to differ, Yes UPS can MAKE people do what they don't want to. I have my 30 years in and their trying to make me stay another 13 so I can get my pension. Quiting is not an option now. Sorry if I mis [​IMG]}}spelled anything.
     
  10. deliver_man

    deliver_man Guest

    <font color="ff0000">I beg to differ, Yes UPS can MAKE people do what they don't want to. I have my 30 years in and their trying to make me stay another 13 so I can get my pension. Quiting is not an option now. Sorry if I mis spelled anything. </font>
    <font color="000000">Who says you don't have 30 years? The company? The union? Or the contract? How is the company violating the contract in your case? Can you post up the relevant contract language regarding your situation? </font>
     
  11. wily_old_vet

    wily_old_vet Guest

    30 and out- First Central States is the union so they are not neutral, they're saying you've got 17 years towards a teamster retiremnt. Second you should have been vested in whatever UPS pension plan you were covered by while you were a full time clerk. Find out from them what retirement benefit you are eligible for from them. Then find out from the union what retirement benefit you are eligible for from them. Even though it doesn't seem fair you were only covered by teamster pension benefits for the time you have been a driver even though you've been at UPS 31 years.
     
  12. 30andout

    30andout Guest

    I was told by my local union BA teamsters dont have anything to do with the way Central States operates. UPS has told me that for my 14 years in their retirement plan I may get a whole $500 a month when I reach age 55, But I have been told by someone else that I cannot collect from both pensions only one. UPS keeps beating around the bush soo much I am totaly confused.They have been contacted by an attorney but won't even answer back.
     
  13. badhab1

    badhab1 Guest

    I'm afraid there is a misunderstanding here. I think that there can only be one of two scenarios present. If 30 and out was a fulltime union clerk (he says he paid union dues the entire time) then the problem lies between him and the union exclusively. The company has no dog in that fight. I suspect the second scenario is the case. Few parts of the country had union clerks prior to the contract before the last one. My guess is that 30 and out was a non union clerk and there is no reciprocal agreement between company and union for those people going from non-union (including p/t sups.) to union. The reason the agreement works only in one direction is simple. The company wanted it and in fact had to have it to get quality union employees to be interested in management. The company bears the brunt of financial needs for this to happen. It has never to my knowledge been of interest to the union to do likewise when a non-union person goes to a union job. If memory serves full time non-union vesting was 10 years fifteen years ago, and that would mean that at 65 he would be eligible for some company pension, however small it might be. Keep in mind this has nothing to do with the fact that p/t years prior to 1975 (I think) were not rolled in to any plan. Hope that helps and sorry Muncher but UPS pays all of the p/t pension monies.
     
  14. 30andout

    30andout Guest

    badhab1 would you like to see my union dues receipts for the last 29 years, my first two years were part time and not being disputed. As for the Unions stand, they say its not their problem the clerks chose to be in a ups retirement plan and thats not the same as your Pension plan from ups.[​IMG]
     
  15. dannyboy

    dannyboy Guest

    Who ever told you you could not draw from both retirements at the same time was wrong. You just have to be at least 55 to start drawing the one from UPS.

    d
     
  16. badhab1

    badhab1 Guest

    I am simply saying that if you paid union dues for those years then the union and you have the problem. You would not pay union dues in to a company sponsered retirement. As stated previously the company would not have any involvement in the disagreement.
     
  17. badhab1

    badhab1 Guest

    If there is a case(and there may be, I don't pretend to know them all) where an area of the country allowed individuals to be in the union yet be covered by the company's pension then that would fit into the second scenario. There is a considerable penalty for drawing this pension at 55 vs 65 when one does not have the time or age. Before you say it, no you don't have the time in this particular plan and as stated earlier it is non reciprocal with the union going in this direction. I know it is frustrating and am sorry for your situation but I truly don't feel that it lies at the company's doorstep. You were entering the union plan when you went driving. The obligation to accurately inform you lay with the unon. When those of us that left the union and went in to management the obligation to inform us of what we gained and possibly lost lay with the company. Good luck in any case.
     
  18. 30andout

    30andout Guest

    badhab, thanks for the input,I was told when I swiched job classes, by ups and teamsters, that it would recriprocate. They both mis-informed me. I still blame the company I have put in 31 years with.
     
  19. 55andout

    55andout Guest

    I was a union driver for 14 years and management for 10. I know what my monthly benefit will be from the union. Who can I contact at UPS to get information on their contribution? Thanks in advance
     
  20. badhab1

    badhab1 Guest

    Simple, go to your HR Manager and have them give you the formula. You will not receive two seperate pensions if you went from hourly to management. You are credited with all months as a f/t driver assuming you had no short years (extended non reports). All time in both categories will be used to identify your pension. The basis will be your five highest income years out of your last ten. Includes salary, 1/2 month, and MIP but excludes options. Most are now choosing the single highest monthly and then buying a life insurance policy for the spouse with the difference vs taking the surviving spouse option but everyone has their own idea and preference. There is a little more to it than this but HR can certainly give you the info.