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Brown Cafe UPS Forum
UPS Union Issues
THE REALITY OF THE U.P.S. CONTRACT
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<blockquote data-quote="PT Stewie" data-source="post: 1290538" data-attributes="member: 12889"><p>(i) UPS Part-time Pension Plan</p><p>(1) The UPS Pension Plan will be improved to provide monthly</p><p>benefits for part-time employees not covered by Teamster Pension</p><p>Plans as follows: The benefit formula in the UPS Pension Plan for</p><p>current or future part-time employees who are participants will be</p><p>increased effective August 1, 2004 to fifty-five dollars ($55.00) for</p><p>each year of past and future Credited Service to a maximum of thirty-</p><p>five (35) years of Credited Service. The benefit formula in the</p><p>UPS Pension Plan for current or future part-time employees who</p><p>are participants will be increased solely for purposes of the monthly</p><p>accrued benefit, <strong>effective August 1, 2008 to sixty dollars</strong></p><p><strong>($60.00) for each year of future Credited Service</strong> to a maximum of</p><p>35 years of Credited Service. <strong>If a participant is in Covered</strong></p><p> <strong></strong></p><p><strong>Employment on August 1, 2008, he shall receive the sixty dollars</strong></p><p> <strong></strong></p><p><strong>($60.00) benefit formula for the entire 2008 plan year.</strong></p><p> </p><p> It is $55.00 per year from start to 2007 and $60.00 per year from 2008 and on.This is based on 750 hours per year worked .</p></blockquote><p></p>
[QUOTE="PT Stewie, post: 1290538, member: 12889"] (i) UPS Part-time Pension Plan (1) The UPS Pension Plan will be improved to provide monthly benefits for part-time employees not covered by Teamster Pension Plans as follows: The benefit formula in the UPS Pension Plan for current or future part-time employees who are participants will be increased effective August 1, 2004 to fifty-five dollars ($55.00) for each year of past and future Credited Service to a maximum of thirty- five (35) years of Credited Service. The benefit formula in the UPS Pension Plan for current or future part-time employees who are participants will be increased solely for purposes of the monthly accrued benefit, [B]effective August 1, 2008 to sixty dollars ($60.00) for each year of future Credited Service[/B] to a maximum of 35 years of Credited Service. [B]If a participant is in Covered Employment on August 1, 2008, he shall receive the sixty dollars ($60.00) benefit formula for the entire 2008 plan year.[/B] It is $55.00 per year from start to 2007 and $60.00 per year from 2008 and on.This is based on 750 hours per year worked . [/QUOTE]
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THE REALITY OF THE U.P.S. CONTRACT
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