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Brown Cafe UPS Forum
UPS Union Issues
Think it thru....Pension Takeover
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<blockquote data-quote="beentheredonethat" data-source="post: 252364" data-attributes="member: 4886"><p>Up in New England the current pension contribution is $5.26 per hour with a 40 hr max per week and this is for hrs paid, so for a FT vacation pay counts. Assuming a normal year of 40/week for 52 weeks you would get $10,940 contributed. I know back in 93 or so the pension was closer to $2.76. Can you imagine getting that in your 401K instead? Up here also the teamsters get the money for PT people's pension, including the thousands of PT who never vest and dont' get anything for the hours they work. Take a hub that has 1000 total employees working per day between Day, Twi, Mid and Preload with a 4 hr day (up here we contribute for 4 hrs minimum) that's 4000 hrs day or 20000 per week. at 50 weeks a year (to make the math easy) thats 1 million hrs a year at the rate of $5.26 or 5.26 million a year of pension. How many of those PT'ers make it to vesting? Let's assume 1/2 (which is a very high assumption). That's still 2.6 million a year the teamsters get and they don't have to pay out on that money. Where does it go??????</p></blockquote><p></p>
[QUOTE="beentheredonethat, post: 252364, member: 4886"] Up in New England the current pension contribution is $5.26 per hour with a 40 hr max per week and this is for hrs paid, so for a FT vacation pay counts. Assuming a normal year of 40/week for 52 weeks you would get $10,940 contributed. I know back in 93 or so the pension was closer to $2.76. Can you imagine getting that in your 401K instead? Up here also the teamsters get the money for PT people's pension, including the thousands of PT who never vest and dont' get anything for the hours they work. Take a hub that has 1000 total employees working per day between Day, Twi, Mid and Preload with a 4 hr day (up here we contribute for 4 hrs minimum) that's 4000 hrs day or 20000 per week. at 50 weeks a year (to make the math easy) thats 1 million hrs a year at the rate of $5.26 or 5.26 million a year of pension. How many of those PT'ers make it to vesting? Let's assume 1/2 (which is a very high assumption). That's still 2.6 million a year the teamsters get and they don't have to pay out on that money. Where does it go?????? [/QUOTE]
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Think it thru....Pension Takeover
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