UPS EMPLOYEES START NEW UNION!

[sawman]

EZrider,
Thanks for your comments and support.
The question you raise about 2008 is a very important issue.
I hope that the APWA will have things in order well before this contract ends, but there is much to do, and yes, you're right it is a major undertaking.
Keeping in mind that I am a member and not an officer of the APWA, I will say this.
I feel strongly that the officers of the APWA have done there homework, and have put together a very strong team to handle this undertaking.
I would like to see everyone that have all these question, visit the APWA website,
and ask there question on the site. I would love to be able to answer all these questions, but feel that I am not qualified to answer some of them.
The officers of the APWA however are more than qualified.
The most important thing to me at this point is spreading the word. Let all UPS employees know that the APWA is here, and if we all stand with them. THE SKY IS THE LIMIT!

 

[ups79]

feeders: your numbers seem right, but what about the cost of inflation.

 

[ups79]

feeders:also why the initial $8600.00. Also the way I look at it if I live 25 years my pension will have paid out $840,000. In addition to that if my wife who is younger than I lives an additional 10 years after my death she will receive in those 10 years-$168,000. Therefore, when all is said and done my plan has paid out over a $1,000,000.00. Both(yours and mine)sounds good to me. You however are assuming your plan is going to grow at a 7% rate which in my opinion seems high.

 

[sawman]

UPS79, drawing a pension for 25 years sound high.
Lets see I retire at age 62, plus 25 years, that would make me 87 years old. What percentage of us will live to be 87? A low percentage I'm guessing.

 

[ups79]

sawman, I retire at 50 plus 25 years is 75. The average life expectancy for women is 80.1 years, with men living 5.3years less.

 

[ups79]

the local I worked out of had a 25 and out. Meaning after 25 years of pension credits you could retire at age 50 and keep your insurance(covering you and your wife).

 

[ok2bclever]

Don't mean to bum you out ups79, but you are using data for someone born in the last two years or so.

The average life span of say someone born in 1953 which gets you a fifty year old a couple of years ago is only 66 for a male.

 

[ups79]

Well heck ok2b, guess I better get to tapping into my 401k plan, the ira's, and the cd's. Might also want to sell some of that UPS stock.

 

[ups79]

ok2b:what then is the big worry about social security being depleted. Heck I have to be 65 inorder to collect full retirement. In that case that means I will only receive it for one year. Once my wife reaches full retirement age(65) she then will live to be 70. Between 65 to 70 she will collect 1/2 my benefits as a spousal survivor. How can soc. sec. be in such bad shape if on the average males my age only live to collect payments for one year. I know one thing, Iam filling for benefits at 62 years 3 months.

 

[ok2bclever]

Naw, ya gotta figure you're better than average.

Never the less, live like this is the first day of the rest of your life and the last night.

PS - and carry an aspirin.

 

[30andout]

We have a APWA meeting scheduled soon for my center, everyone at UPS should attend one and at least listen to what they have to say.ITS YOUR FUTURE.

 

[feeders]

UPS79,
Most drivers don't obtain seniority until 12 months, but UPS still make the pension payments each month. For this example, I will use the SP500 average to calculate the interest at 0 balance.

Using the same amount that UPS is paying the union pension funds now ($760 a month).

Your Monthly Deposit for 30 Years of $ 760.00
for an Interest Rate of 12.500 % compounded Annually
With an Initial Amount of $ 0.00:
Yr Mo Ending
Balance Average
Balance

1 12 9642.50 4180.00
2 12 20490.31 13822.50
3 12 32694.10 24670.31
4 12 46423.36 36874.10
5 12 61868.78 50603.36
6 12 79244.88 66048.78
7 12 98792.99 83424.88
8 12 120784.62 102972.99
9 12 145525.19 124964.62
10 12 173358.34 149705.19
11 12 204670.64 177538.34
12 12 239896.97 208850.64
13 12 279526.59 244076.97
14 12 324109.91 283706.59
15 12 374266.15 328289.91
16 12 430691.92 378446.15
17 12 494170.91 434871.92
18 12 565584.77 498350.91
19 12 645925.37 569764.77
20 12 736308.54 650105.37
21 12 837989.61 740488.54
22 12 952380.81 842169.61
23 12 1081070.91 956560.81
24 12 1225847.27 1085250.91
25 12 1388720.68 1230027.27
26 12 1571953.27 1392900.68
27 12 1778089.92 1576133.27
28 12 2009993.66 1782269.92
29 12 2270885.37 2014173.66
30 12 2564388.54 2275065.37

Final Savings Balance: $ 2564388.54
Initial Investment plus Monthly Contributions: $ 273600.00
Total Interest Earned: $ 2290788.54

That comes out to $2,564,388.54 in your account! So lets say we put your money in the Balanced Fund, that pays about 6%. This would give you a return of $158,863 a year in interest, or $13,238 a month for life and you never touch the principle. Hoffa was right when he said that the amount of money that UPS puts in the union pension funds are "MORE THAN ENOUGH!

COME STAND WITH US!

 

[ups79]

30 and out:tdu had similar meetings 27 years ago. You see how far they have come.

 

[ups79]

Darn feeders its getting better. Heck, why don't we try 15%. All of this is what if. You can plug any numbers in that you want. Do you really think you will make it 30 years?

 

[sawman]

UPS79, Obviously you are not in the central state pension fund which covers 27 states making it the largest pension fund.
We had 30 and out any age, 3000.00 a month, before the cuts started.
that was 100.00 for each year of service.
As of Jan. 1st 2004 they cut that to 50.00 for every year of service ( the part timers still get 55.00 for each year, 5.00 more than a full timer)
Now they have done away with the 30 and out.
You must be 62 years old to retire.
I'll use myself for an example:
I have been with UPS for 23years, I am 42 years old. That gives me 20 more years to go for a total of 43 years, and I will only draw 2900.00 a month.
That to me is a good reason to support the APWA

 

[sawman]

Oh, and I didn't even get into the health care.
Insurance will cost 510.00 a month for each covered person. You and your spouse 1020.00 a month. 2900.00 minus 1020.00 ins. a month,
Total:1880.00 a month
400.00 for serv. benifit
Total: 1480.00 a month
Taxes brings it down to approx.850.00 a month for 43 years of service

 

[sawman]

Keep in mind that the teamsters and Central States have an equal number of members that sit on the Central States board.
All of these cuts are going on and the officers of the teamsters union are retiring with multi pension and are retiring millionaires.
One local pres. retired with 3 pensions, his wife who was a secretary at the local retired with two pensions. Together they draw 250,000.00 dollars a year in pension.
These are just a few reasons why the APWA was founded.

 

[brownmonster]

If it's so easy to make 7 to 12% what the hell have the Teamster pension funds been doing all these years?

 

[ups79]

brownmonster:that just it. You don't average the so called 7 to 12% per year for 30 years. For example the S&P 500 which he mention during the 5 years between 1999 to 2004 earned about negative 1.29%. Where he is getting his earnings report, I have no idea. My information is coming from the citistreet quarterly report concerning our 401k plans.

 

[ups79]

sawman according to your fiqures then in retirement you and your spouse plan on being taxed at 42.5%. If thats the case then you probably have other income from expenses and I would believe you would not need the pension to live comfortably. Do you realize in retirement federal income tax is all you pay in taxes(now thats in Illinois, other states might be different-we pay no state income tax or soc. sec. tax).