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switching jobs
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<blockquote data-quote="hondo" data-source="post: 825714" data-attributes="member: 8661"><p>Many good questions here. Unfortunately I'm just going to add to the list of q's, mostly.</p><p></p><ul> <li data-xf-list-type="ul">First off, will he be in the same Local? That's the best possible scenario. If so, 1 stop shopping for answers to your questions. Talk to business agents/reps. for UPS and new employer, and pension fund office.</li> <li data-xf-list-type="ul">Union time: I assume you mean seniority. No. He'll lose seniority, start from scratch at new co.</li> <li data-xf-list-type="ul">Pension: Is he vested in a Teamster multi-employer fund (like Central States), or are we talking about the part-time UPS employee fund, or maybe the UPS-Teamsters single employer fund? If he is vested in a Teamsters MEPF, and new employer is also in that fund, then <u><em>maybe</em></u> it's all good: perhaps after another vesting period with new co. Or maybe the new pension fund has some reciprocity agreement with his current fund. Try to get answers <strong><u>in writing</u></strong> from old & new funds.</li> <li data-xf-list-type="ul">Health insurance: All I can say is: generally the UPS coverage is the best he's going to get. Anywhere else will be a downgrade.</li> <li data-xf-list-type="ul">401K: I really don't what I'm talking about here, but from what I've gleaned from headlines and advertising over the years, roll it over into an IRA, couldn't say if he'll want a traditional or Roth.</li> <li data-xf-list-type="ul">If the jobs are not in the same Local, he should get a <em>withdrawal</em> card from the UPS local (little or no cost). He should save on some or all of the initiation fee in the new Local..</li> </ul></blockquote><p></p>
[QUOTE="hondo, post: 825714, member: 8661"] Many good questions here. Unfortunately I'm just going to add to the list of q's, mostly. [LIST] [*]First off, will he be in the same Local? That's the best possible scenario. If so, 1 stop shopping for answers to your questions. Talk to business agents/reps. for UPS and new employer, and pension fund office. [*]Union time: I assume you mean seniority. No. He'll lose seniority, start from scratch at new co. [*]Pension: Is he vested in a Teamster multi-employer fund (like Central States), or are we talking about the part-time UPS employee fund, or maybe the UPS-Teamsters single employer fund? If he is vested in a Teamsters MEPF, and new employer is also in that fund, then [U][I]maybe[/I][/U] it's all good: perhaps after another vesting period with new co. Or maybe the new pension fund has some reciprocity agreement with his current fund. Try to get answers [B][U]in writing[/U][/B] from old & new funds. [*]Health insurance: All I can say is: generally the UPS coverage is the best he's going to get. Anywhere else will be a downgrade. [*]401K: I really don't what I'm talking about here, but from what I've gleaned from headlines and advertising over the years, roll it over into an IRA, couldn't say if he'll want a traditional or Roth. [*]If the jobs are not in the same Local, he should get a [I]withdrawal[/I] card from the UPS local (little or no cost). He should save on some or all of the initiation fee in the new Local.. [/LIST] [/QUOTE]
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