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Pensions cuts
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<blockquote data-quote="UpstateNYUPSer(Ret)" data-source="post: 755173" data-attributes="member: 12570"><p>Jon, I will try my best to answer your questions as best I can.</p><p> </p><p>Yes, it was mostly the older members who went to the meeting and voted. We also had the option to vote by phone, which 26 of our drivers did on Friday. Our votes will be added to the votes of the other locals within the NYS Teamster Pension Fund umbrella to see which schedule will be adopted.</p><p> </p><p>Right now UPS pays $8.565 per hour toward our pension. In 2010 this will be increased by $.0428, which is a 5% increase. There will be 11.5% increases in 2011-2013, which will range from $1.034 in 2011, $1.153 in 2012 and $1.286 in 2013. Our wage increases for those years have already been negotiated and, unless the company decides to give us a raise on top of our raise, the increase in the pension contribution will be achieved by UPS transferring our pay raise to the union to be directed to the pension, which is allowed under the NMA (I don't have the article to quote).</p><p> </p><p>UPS only contributes for the first 40 hours so I don't know what will happen for our OT hours. The way that I understood it from the meeting is that one of the split raises will be forfeited in its entirety.</p><p> </p><p>Keep in mind that this does not affect our health care as that is separate.</p><p> </p><p>I will tell you that there was a lot of animosity toward UPS and our pension, which currently is about $5,200 per month. This pension is a multi-employer pension with over 200 employers represented and ours is by far the highest pension and UPS is by far the largest contributor (60%) to the fund. YRCW is the second largest and if they go out of business it would have a serious effect.</p><p> </p><p>There was also talk of reducing the pensions being paid to current retirees. Not only is this unfair but it is illegal. This is where the problem lies as we have some retirees making over $6K per month in retirement who would have been lucky to make $5K per month while working.</p><p> </p><p>Jon, do me a favor and Google "Casey Bill". This is a bill being written by Sen. Casey regarding pensions of failed companies. In it he seeks to lessen the impact on the remaining fund employers and members of a failed company by partioning the members of the failed company and having the govt assume their pensions.</p><p> </p><p>You are right in the PTers are in for a wake-up call. There were no PT members at the meeting.</p></blockquote><p></p>
[QUOTE="UpstateNYUPSer(Ret), post: 755173, member: 12570"] Jon, I will try my best to answer your questions as best I can. Yes, it was mostly the older members who went to the meeting and voted. We also had the option to vote by phone, which 26 of our drivers did on Friday. Our votes will be added to the votes of the other locals within the NYS Teamster Pension Fund umbrella to see which schedule will be adopted. Right now UPS pays $8.565 per hour toward our pension. In 2010 this will be increased by $.0428, which is a 5% increase. There will be 11.5% increases in 2011-2013, which will range from $1.034 in 2011, $1.153 in 2012 and $1.286 in 2013. Our wage increases for those years have already been negotiated and, unless the company decides to give us a raise on top of our raise, the increase in the pension contribution will be achieved by UPS transferring our pay raise to the union to be directed to the pension, which is allowed under the NMA (I don't have the article to quote). UPS only contributes for the first 40 hours so I don't know what will happen for our OT hours. The way that I understood it from the meeting is that one of the split raises will be forfeited in its entirety. Keep in mind that this does not affect our health care as that is separate. I will tell you that there was a lot of animosity toward UPS and our pension, which currently is about $5,200 per month. This pension is a multi-employer pension with over 200 employers represented and ours is by far the highest pension and UPS is by far the largest contributor (60%) to the fund. YRCW is the second largest and if they go out of business it would have a serious effect. There was also talk of reducing the pensions being paid to current retirees. Not only is this unfair but it is illegal. This is where the problem lies as we have some retirees making over $6K per month in retirement who would have been lucky to make $5K per month while working. Jon, do me a favor and Google "Casey Bill". This is a bill being written by Sen. Casey regarding pensions of failed companies. In it he seeks to lessen the impact on the remaining fund employers and members of a failed company by partioning the members of the failed company and having the govt assume their pensions. You are right in the PTers are in for a wake-up call. There were no PT members at the meeting. [/QUOTE]
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