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UPS Retirement Topics
Western conference fund %100 funded ?
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<blockquote data-quote="Cezanne" data-source="post: 155344" data-attributes="member: 5104"><p>I am in the Central States funding area, Currently I am older than your projected retirement age of 51, have 30 years service in, paid the same amount of union dues, had the same amount of monetary contributions per article 34 master. If I were to retire with the same amount of service and age requirement as you stated I would get less than 1500 per month. What would your standard of living be with that kind of payout. The most likable reason for an early retirement under the current Central States funding is that your body breaks down and you are forced to take a medical retirement. Can well understand why you would not be willing to have your Western conference fund combined with the other struggling teamster funds. The fellow Brother and Sisters in these underfunded teamster trusts did nothing to create this problem, it was out of our hands, given to the people who should of known better. Really glad you guys had some accountability with your pension investments and will reap the benefit on retirement. Just trying to point out the injustice on the whole underfunding issue. </p><p> </p><p>Afraid that the final solution will effect all the more healthier teamster trust funds. What would be the union's justication of such difference between the pension benefits and how will they try to correct this problem. One of the solutions that could happen is to align the pension benefits into one broad formula for all teamster members, no matter what trust they currently are under. If this happens do not blame the members in these underfunded plans from draining your funds, this problem was created by politics and very poor investment planning.</p></blockquote><p></p>
[QUOTE="Cezanne, post: 155344, member: 5104"] I am in the Central States funding area, Currently I am older than your projected retirement age of 51, have 30 years service in, paid the same amount of union dues, had the same amount of monetary contributions per article 34 master. If I were to retire with the same amount of service and age requirement as you stated I would get less than 1500 per month. What would your standard of living be with that kind of payout. The most likable reason for an early retirement under the current Central States funding is that your body breaks down and you are forced to take a medical retirement. Can well understand why you would not be willing to have your Western conference fund combined with the other struggling teamster funds. The fellow Brother and Sisters in these underfunded teamster trusts did nothing to create this problem, it was out of our hands, given to the people who should of known better. Really glad you guys had some accountability with your pension investments and will reap the benefit on retirement. Just trying to point out the injustice on the whole underfunding issue. Afraid that the final solution will effect all the more healthier teamster trust funds. What would be the union's justication of such difference between the pension benefits and how will they try to correct this problem. One of the solutions that could happen is to align the pension benefits into one broad formula for all teamster members, no matter what trust they currently are under. If this happens do not blame the members in these underfunded plans from draining your funds, this problem was created by politics and very poor investment planning. [/QUOTE]
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