Where is the Driver buyout?

[I GOT ONE MORE]

Sober, this is from the Western Conference or Teamsters Pension Trust website.

Applicable Hours Limits

Under your Plan’s suspension of benefits rule, your pension benefits will be suspended if your hours of work in suspendible employment exceed certain hours limits. You will lose the right to receive your retirement benefit payment for any calendar month if the hours of suspendible employment you work (or are paid for) equal or exceed your applicable hours limit for that month. Your Plan counts hours that you actually work as well as hours for which you are paid (such as vacation, jury duty, sick leave or other paid hours). See below for the applicable hours limits rules.
If you are paid on a basis other than hours worked, such as mileage, your hours of suspendible employment are determined using the same formula that determines the number of hours for which your employer is required to make contributions to the Pension Trust. Contact your Area Administrative Office if you have questions regarding how the mileage rules apply.
A special rule applies if the Plan cannot determine how many hours of suspendible employment you actually worked in a month. Under that rule, the Plan considers that you worked in suspendible employment in excess of your hours limit for that month if:

• You receive pay for eight or more days (or separate work shifts) in that month, or
• You receive pay for eight or more days (or separate work shifts) in any four-week or five-week payroll period ending within that month.

Applicable Hours Limits
Up to Age 60
If your reemployment occurs in a month that begins prior to or includes your 60th birthday, you will forfeit your monthly benefit if you work 50 or more hours of suspendible employment in that month.
Ages 60 to 65
If your reemployment occurs anywhere between the month following your 60th birthday and the month ending with your 65th birthday, you will forfeit your monthly benefit if you work 85 or more hours of suspendible employment in that month.
After Age 65
If your reemployment occurs in a month after your 65th birthday, you can work any number of hours and your benefits will not be suspended.

And what would your interpretation be of suspendible employment?

I am a participant of the Western and have read about this. It has me scratching and twitching, trying to figure it out. I have some years to go, but since you brought it up, maybe you understand it better than I. Reference follows. Thanks.

EXPLANATION OF SUSPENDIBLE EMPLOYMENT
Suspendible Covered Employment
Your covered employment as a retiree is suspendible employment if it meets all of the following tests. The work must be in:

A trade or craft in which you worked at any time while covered by the Plan before your retirement, and
Any industry covered by the Plan when you retired (even if you never worked in that industry before retirement), and
Any geographic area covered by the Plan when you retired (even if you worked in a different location before retirement).
Definition of covered employment: This is work you perform for an employer who is obligated to make contributions to the Pension Trust on your behalf under a pension agreement.

Suspendible Non-covered Employment
Your non-covered employment (including self-employment) is suspendible employment if it meets all of the following tests. The work must be in:

A trade or craft in which you worked at any time while covered by the Plan before your retirement, and
An industry in which you worked at any time while covered by the Plan before your retirement, and
Any geographic area covered by the Plan when you retired (even if you worked in a different location before retirement).

 

[CharleyHustle]

Hourly employee buyouts are rare indeed. Most wont happen unless like at Delphi a tier wage had just been instituted. Even then it was a take it or make less deal for the employee. I don't see it unless the company knows your replacement will never attain your wage and benifit package. Even at a low 20-30 grand offer it would be cheaper to expend some energy to get you to just quit. Most likely there are some who are allready experiencing this.

 

[UpstateNYUPSer(Ret)]

This should help:

https://web.archive.org/web/2011123...g/participants/plan_summary/after_retire.html

 

[Braveheart]

This is about cutting costs where possible. Can't cut drivers. Need all we have now. Really need more. While it may be desirable to have these cut management positions,they are not imperative to keep UPS running. As far as driver buyouts, UPS would save some money by using a lot of new drivers,but they would have to pay too much in buyout money to get rid of enough old timers to make it worthwile

Many would leave if the benes were just paid for = the lump sum could bridge the gap until coverage was paid for.

I sure hope they send some of those hard headed managers packing and not the ones that actually give a crap.

 

[Braveheart]

Smart!!! That is what I have been telling a couple 30 year plus drivers in my center.
I too will be leaving the day I hit 30 years.

School bus sounds great with all those months off in heat of summer, weekends off, holidays off. Sign me up. Another option is anything with A/C!!!!!!!!!!!!!!!

The money will just be for fun. If I have to I will search for a job with benes and offer to work for a dollar less a hour than the other drivers just to get the benes.

If you can not pay your mortgage with ONE paycheck then you are living beyond your means. I can do this despite heavy taxes and 15% to the 401k each week.

If the company wants to unite the clans, Braveheart movie, then start giving us stock and 401k match too. THE MEMBERS NEED TO DEMAND THOSE IN THE NEXT CONTRACT AND IN RETURN TAKE WAY SMALLER RAISES.

My God in Heaven we will be making $31.71 by the end of this contract.

I think we earn it but the damn harassment just gets worse year after year.

What we need is a better working environment. When you are making $20-$30K more a year than your managers they can sure be bitter.

 

[Just Numbers]

I hope they don't I love all my old guys and girls they might be slower but they have good service. Character also goes along way customers love them.

So if I'm reading this correctly, it is your opinion that younger people have no character?

 

[Braveheart]

Yep. This guys a little weird though, he cries all the time especially when he gives a big PCM. It's like a thing with him.

It must be the Xanax.

 

[brownmonster]

We have the same mix of drivers at all age levels. We have 55 year olds that hustle and give great service and 25 year olds that are slugs and constantly in the office, and visa versa.

 

[Just Numbers]

Guys with over 30 years are getting over 40k per year.

Sounds great until the plan runs out of money.

 

[Just Numbers]

Don't know why people count on the company to give you anything. If you put money away every week, in 25 you shouldn't need the pension. If we get one then it should be a bonus........ JMO.

I am planning for my future by taking care of business and not counting on anything.

Just hope your planning for inflation...most people don't and it comes around to kick them in the butt!

 

[Just Numbers]

30 years is long enough to do anything.

I'm gone the first day I am eligible. I can go work at my wife's company, sit in an air-conditioned room with a radio, and assemble widgets for $10 an hour....and that plus my pension will equal or exceed what I'm making now. No stress, no daily grind, no issues.

Or I can drive a school bus for 6 hrs per day and take the entire summer off to play golf.

Sober, I think you to be a very intelligent person but am shocked at your plans. Not at getting out the first day eligible but, at life after UPS. What if the wigets start being produced in China or, the school levy fails and the district cuts out busing of students.

 

[brownmonster]

Sober, I think you to be a very intelligent person but am shocked at your plans. Not at getting out the first day eligible but, at life after UPS. What if the wigets start being produced in China or, the school levy fails and the district cuts out busing of students.

Then you flip burgers or sit on the couch. Still beats lumping parcels.

 

[Just Numbers]

Then you flip burgers or sit on the couch. Still beats lumping parcels.

Humped a lot of them but, never lumped one! Sorry, I couldn't resist.

 

[brownmonster]

Humped a lot of them but, never lumped one! Sorry, I couldn't resist.

Hope you didn't get caught humping a parcel.

 

[whiskey]

That would take a cooperative, shared effort by UPS and the Teamsters.
In other words, "Don't hold your breath."

Another "assumption" I have noticed is that people are responding to this as if this is something the company is giving to the affected people. The affected people are being pushed out and UPS is not giving anything to the individuals.
It is all about getting rid of non-value added, redundant positions. The individual is irrelevant except UPS has identified the people they want for each position and try and keep them and terminate the less-desirable people.
UPS is simply doing what other companies have been doing for years.

One undesired impact is that this is one more nail in the coffin of the "Partnership". Even the one's left know now they are expendable and UPS will cast them aside if needed. Just like any other corporation or business.
There is no longer the UPS culture of the past – just a typical Corporate non-culture.

Sad, but true.

 

[soberups]

Sober, this is from the Western Conference or Teamsters Pension Trust website.

Applicable Hours Limits

Under your Plan’s suspension of benefits rule, your pension benefits will be suspended if your hours of work in suspendible employment exceed certain hours limits. You will lose the right to receive your retirement benefit payment for any calendar month if the hours of suspendible employment you work (or are paid for) equal or exceed your applicable hours limit for that month............................

The key word here is "suspendible".

Most jobs are not considered "suspendible" and these restrictions therefore do not apply.

"Suspendible" refers to jobs in the industry you retired from, or for non-union companies that compete with your former employer or fellow contributors to the pension trust.

 

[soberups]

Sober, I think you to be a very intelligent person but am shocked at your plans. Not at getting out the first day eligible but, at life after UPS. What if the wigets start being produced in China or, the school levy fails and the district cuts out busing of students.

Then I will do something else.

Another option I have considered is being the owner-operator of a tow truck. A couple of years ago I got my package car stuck in the mud so my center manager called a tow truck to pull me out.

The tow truck showed up and it was an older guy who had his granddaughter and his dog in the truck with him. They were listening to music and the little girl played with the dog and ran around and picked flowers while grandpa pulled me out. He made about $150 for the tow, and it didnt look to me like he was working all that hard. I could easily do that sort of thing and it will beat the hell out of lumping parcels out of a truck in 100 degree heat when Im 50 yrs old.

Bottom line is, I wont have to earn very much in order to cover the difference between my pension and what I make as a full time driver.

Money isnt everything. After 30 years, it will be time for me to move on and do something different. You only live once.

 

[soberups]

Sounds great until the plan runs out of money.

The Western Conference plan was fully funded until the market tanked last year. It got as low as 84%, which is still considered "healthy", but it has begun climbing again. The Trustees cut the accrual rate in order to bring the funding level back up to 100%. The plan is ranked among the top pension plans in the country in terms of historical funding levels and prudent fiscal management.

 

[EmerCond421]

Smart!!! That is what I have been telling a couple 30 year plus drivers in my center.
I too will be leaving the day I hit 30 years.

School bus sounds great with all those months off in heat of summer, weekends off, holidays off. Sign me up. Another option is anything with A/C!!!!!!!!!!!!!!!

The money will just be for fun. If I have to I will search for a job with benes and offer to work for a dollar less a hour than the other drivers just to get the benes.

If you can not pay your mortgage with ONE paycheck then you are living beyond your means. I can do this despite heavy taxes and 15% to the 401k each week.

If the company wants to unite the clans, Braveheart movie, then start giving us stock and 401k match too. THE MEMBERS NEED TO DEMAND THOSE IN THE NEXT CONTRACT AND IN RETURN TAKE WAY SMALLER RAISES.

My God in Heaven we will be making $31.71 by the end of this contract.

I think we earn it but the damn harassment just gets worse year after year.

What we need is a better working environment. When you are making $20-$30K more a year than your managers they can sure be bitter.

Many would leave if the benes were just paid for = the lump sum could bridge the gap until coverage was paid for.

I sure hope they send some of those hard headed managers packing and not the ones that actually give a crap.

I'm with you Braveheart. Only have to go 5 more years for 25 and out but be 60 by then. Heck, I'd go now if there was a decent benefit package. Kids grown, house paid off, no car payments...

 

[rod]

Would this Driver buyout be retroactive?