UPS charts $1.16 billion in U.S. pension plan contributions for 2016

[cheryl]

UPS charts $1.16 billion in U.S. pension plan contributions for 2016 - Pensions & Investments

United Parcel Service Inc., Atlanta, plans to contribute $1.16 billion to its U.S. defined benefit plans in 2016, the company said in its 10-K filing with the Securities and Exchange Commission on Thursday.

The company contributed $1.05 billion to the U.S. plans in 2015, and $1.06 billion in 2014.

 

[BrownRoosterBrownBull]

I've heard buzz that the western teamsters plan is threatened by the number on non-UPS employees. Any thoughts?

Any thoughts on the availability of funds for workers with 20+ years left in the company before retirement?

 

[brownmonster]

I've heard buzz that the western teamsters plan is threatened by the number on non-UPS employees. Any thoughts?

Any thoughts on the availability of funds for workers with 20+ years left in the company before retirement?

My thought would be jack up your 401k.

 

[Coldworld]

I've heard buzz that the western teamsters plan is threatened by the number on non-UPS employees. Any thoughts?

Any thoughts on the availability of funds for workers with 20+ years left in the company before retirement?

Ups employees make up a very small percentage of employees in the plan along with trucking in general... The western conference is very diverse in the kinds of employers that contribute to it and I feel lucky to be part of it...

 

[35years]

Only 8 billion short of fully funded.
There will be a day of reckoning.
Just kick the can down the road so shareholders are happy today. Look for 50% reductions in benefits, higher minimum retirement age, and more years of service required for the future.

 

[Wally]

What they need is growth. More employees kicking into the fund.

 

[UpstateNYUPSer(Ret)]

Our center manager has told us that FedEx plans to grow by 1M packages per day this year. Since our economy is not growing that strongly, where do you think the majority of those packages will be coming from?

 

[Insaneasylum]

Ups employees make up a very small percentage of employees in the plan along with trucking in general... The western conference is very diverse in the kinds of employers that contribute to it and I feel lucky to be part of it...

People used to say the same thing about central states pension also now look at it

http://whotv.com/2016/02/21/union-workers-at-risk-of-losing-half-of-pension-benefits/

 

[Coldworld]

Our center manager has told us that FedEx plans to grow by 1M packages per day this year. Since our economy is not growing that strongly, where do you think the majority of those packages will be coming from?

Well when we deliver our good customers(you know... The ones who ship out the majority of pkgs on a route)2 or 3 hours later now because of Orion we deserve to loose them to fedex...tell your punk boss that next time and see what kind of bs scripted corporate speak comes out of their mouth...company better start thinking real hard about all of this waste and tying our hands so much... It's starting to bite them...such a shame

 

[Coldworld]

People used to say the same thing about central states pension also now look at it

http://whotv.com/2016/02/21/union-workers-at-risk-of-losing-half-of-pension-benefits/

I know that sucks but western conference is very diverse... Central state was never as diverse...always was trucking heavy

 

[PT Car Washer]

I know that sucks but western conference is very diverse... Central state was never as diverse...always was trucking heavy

You are right. But before Reagan if you wanted something delivered by a truck it was a Union truck driver that drove that truck. Don't matter if it was milk, potato chips, cars or beer.

 

[1989]

Ups employees make up a very small percentage of employees in the plan along with trucking in general... The western conference is very diverse in the kinds of employers that contribute to it and I feel lucky to be part of it...

Is there some place you've got this info?

 

[UpstateNYUPSer(Ret)]

Well when we deliver our good customers(you know... The ones who ship out the majority of pkgs on a route)2 or 3 hours later now because of Orion we deserve to loose them to fedex...tell your punk boss that next time and see what kind of bs scripted corporate speak comes out of their mouth...company better start thinking real hard about all of this waste and tying our hands so much... It's starting to bite them...such a shame

My "punk boss" drove for 12 years.

 

[1989]

My "punk boss" drove for 12 years.

So don't hold your bosses youth an inexperience against him.

 

[Turdferguson]

Our center manager has told us that FedEx plans to grow by 1M packages per day this year. Since our economy is not growing that strongly, where do you think the majority of those packages will be coming from?

Who's to say they will meet those goals? I am sure UPS has plans to grow volume also

 

[Coldworld]

Is there some place you've got this info?

It has been stated many times during visits at the local by western conference representatives.. There is also a pie chart floating around somewhere that shows the breakdown of all of the industries and ups and trucking in general is a small amount of the overall pie.. If ups left the fund today it would carry on

 

[Coldworld]

My "punk boss" drove for 12 years.

They can't expect to come at us day after day after day with so much crap, and 90% of it is crap, and not have some animosity against then...no???

 

[1989]

It has been stated many times during visits at the local by western conference representatives.. There is also a pie chart floating around somewhere that shows the breakdown of all of the industries and ups and trucking in general is a small amount of the overall pie.. If ups left the fund today it would carry on

I found that they claimed in 2006 that of the 1600 contributing employers, in 50 different industries. Over 2/3 are small businesses with less than 50 employees, stating that ups, coca cola, Safeway, and waste management being a few of largest contributors.
But I would have to guess if ups exited the plan, it would cut the plans contributions by a large percentage and put the plan in a state of uncertainty.

 

[Browndriver5]

I've rad several articles that say UPS excepts to grow between 6-8% this year.

 

[Man Of Brown]

I've heard buzz that the western teamsters plan is threatened by the number on non-UPS employees. Any thoughts?

Any thoughts on the availability of funds for workers with 20+ years left in the company before retirement?

The last newsletter I saw sai the fund had gone from 96% funded to 97% funded or something like that in 2015. Supposed to be one of the best funds in the country. But as a driver with 20+ years left, I am not planning on having a pension as part of my retirement. If it's there, awesome, but if not I'll be prepared.