ball' In our Master Contract that we are working under right now, Article 34,paragraph 2 and paragraph 6 (after years of service criteria) shows you just what you are describing. We already voted for it.
It doesn't say that at all. Please explain.
The UPS/IBT Plan will recognize full-time service in the CS Plan
for determining eligibility for the benefits in this section and will
offset at Normal Retirement Age the benefits accrued from the CS
Plan commencing at Normal Retirement Age.
If the benefit paid
from the CS Plan is reduced as permitted or required by law, the
amount of such reduction shall not be included in this offset
2nd paragraph
The benefit formula for current or future full-time employees
who are participants in the UPS/IBT Plan will be as set forth below
for each year of future service (hours worked in Covered
Employment on or after the effective date) up to a maximum of thirty-
five (35) years of Credited Service (such limitation is only applicable
to service pensions). This benefit is unreduced if payable at
Normal Retirement Age (age 65) and 5 years of vesting service or
at age 62 with 20 years of Credited Service. Benefit payments may
begin as early as Early Retirement Age (age 50 with five years of
vesting service) and are reduced 6% per year for each year and partial
year prior to Normal Retirement Age. There shall be no reduction
or change in the level of benefits described herein unless negotiated
and agreed to by the Union.