Suspension & Termination Fund

Discussion in 'UPS Union Issues' started by upschuck, Feb 19, 2014.

  1. upschuck

    upschuck Avatar bet gone wrong

    Got a letter in the mail today about a new offering that my local is offering. For an init. fee and $10 a month, you get insurance in the event that you get terminated or suspended, up to $400 or 50% of your pay(whichever is less). This is a voluntary option.

    Sad that there are so many that the union had to make this an option.
     
  2. rod

    rod retired and happy

    How long do you have to be off for to collect? I know at my old center about 95% of the hourlies could have collected on it. I'm sure UPS would get everyone back before they were able to collect just to piss them off.
     
  3. A few guys in my center, would deplete the fund in no time!
     
  4. PiedmontSteward

    PiedmontSteward RTW-4-Less

    Is it through LECMPA? Their coverage options are far superior to what you mentioned.
     
  5. Inthegame

    Inthegame Well-Known Member

    No, the offering described by the OP is not an accredited insurance plan, however it is a local union "fund" that is completely voluntary and created with the intent of helping their members navigate through the "get your job back with no back pay" BS too many face. Kudos for the effort.
     
  6. upschuck

    upschuck Avatar bet gone wrong

    Said it was administered by executive officers and another agency.
     
  7. bleedinbrown58

    bleedinbrown58 ahhh....the mouth breathers

    ff0fce4d65c63bd51c0fd133dceec37525-1.png
     
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  8. Jackburton

    Jackburton Gone Fish'n

    If you get fired and 400 bucks while your out changes your world, you got bigger problems. How about instead of paying 10 bucks a month you spend that cash and get a book like the Total Money Makeover by Dave Ramsey.
     
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  9. Inthegame

    Inthegame Well-Known Member

    It's $400 a week for up to 16 weeks. That's $400 more than they're getting when the paycheck stops. Not meant to change anyones world but it will give members some comfort plus they'll have time to read good financial books.
     
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  10. Jackburton

    Jackburton Gone Fish'n

    We make more than enough money to have 3-6months of cash on hand for emergencies, including terminations. What I find mind boggling is the same people get fired over and over, come back with no pay after 3 weeks because they can't last, over and over. We all know how management likes to sit people out to "teach them a lesson" knowing they won't fight for back pay even with a good case.

    Not having some savings in general is a bad idea, this is just another reason to have some.
     
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  11. cachsux

    cachsux Wah

    You can always swing by the house.
     
  12. bleedinbrown58

    bleedinbrown58 ahhh....the mouth breathers

    fat-woman-on-car1-300x230.jpg
    Be right over....lol
     
  13. Do we jack? I pay 300 a week in child support and another 150 alimony! Oh did I forget half of my 401k too! I hear Wut ure saying but saving for some guys (me included) is tough.

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  14. Jackburton

    Jackburton Gone Fish'n

    What you spend your money on is your buisness. I simply said we make enough money to have some savings for emergencies. I could argue people who make half of what we make can save more, it's all about priorities. Bad stuff happens, this is where your decisions will impact your future. Make saving a priority and you'll be amazed of where you could trim. Amassing an emergency fund isn't something you'll do forever, it's sacrificing now so you don't put yourself in a bad situation.
     
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  15. 104Feeder

    104Feeder Phoenix Feeder

    Thats cheap insurance. I have plenty of savings and no debt, sign me up.
     
  16. Jackburton

    Jackburton Gone Fish'n

    Insurance is the act of transferring risk you can't or don't want to absorb. Two things about this raise red flags. First, everyone looks at the 10 bucks a month, no one said anything about the initial fee to join which is still undisclosed.

    Second thing is the math behind the funding. If three people are out for say 1 month, that's 6400 paid out on three people. It would take 640 people to be in the plan to just pay for those three under a break even analysis, before the administrative costs of the plan.

    I don't know about your hub but that's not a stretch where I'm from, and we don't even have half that amount of drivers in ours.
     
  17. upschuck

    upschuck Avatar bet gone wrong

    We have a decent local, so I'm sure they have done their homework and run the numbers.
     
  18. cachsux

    cachsux Wah

    Some of us know how to handle our women.
     
  19. Inthegame

    Inthegame Well-Known Member

    While your skepticism is understandable, this wasn't dreamed up on the back of a bar napkin, it's a local with leadership thinking outside the box to address the unfortunate position in which too many members find themselves. The initiation fee is $25. The number of participants must be 100 to receive the max amount or the benefit is reduced proportionate to participants. There's a 30 day waiting period to build assets. Participants get a max refund of $1800 (minus usage) at retirement. Again it's strictly voluntary with no dues money outlaid.
     
  20. wage EARNER

    wage EARNER Member

    The point of paying dues to a labor union was to protect you from unwarranted discipline. Now the union has accepted the fact that they cannot protect you from unwarranted discipline and want you to pay more money.