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UPS Union Issues
Worst part of contract
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<blockquote data-quote="BigBrownBlues" data-source="post: 255877"><p>I apologize if I misled anyone. I am not a pension expert just a lowly driver. I was trying to make sense of the new language just as others were. I watched the entire video. The new contract has 2 types of benifit plans:#1 SERVICE PENSIONS...25 and out, 30 and out etc. and #2 ACCRUED BENIFIT PENSIONS..retire at 65 type. At age 65 in either plan CS will send you a check for the years you have earned up until January 2008. If CS has to cut benifits the new UPS/TEAMSTER plan would make up the amount cut if you took a #1 SERVICE PENSION. What is NOT clear from the video is if the new plan would make up the amount cut by CS if you took #2 ACCRUED BENIFIT normal-type pension. Please watch and listen to the video very carefully.When the pension expert is talking about the new plan making up for a shortfall in CS it is always in reference to a #1 SERVICE PENSION. Also when hall (I think) speaks about the issue it seems to always be in reference to the #1SERVICE PENSION. The whole video is very carefully worded and sections seem to be cropped out. So the question remains;if I take a regular pension (#2 ACCRUED PENSION) not a 30 and out type (#1 SERVICE PENSION) would the new fund make up the shortfall if CS cuts???? Is there a pension expert out there without an agenda? I would be inclined to vote yes if UPS is guarenteeing both types,no if not.</p></blockquote><p></p>
[QUOTE="BigBrownBlues, post: 255877"] I apologize if I misled anyone. I am not a pension expert just a lowly driver. I was trying to make sense of the new language just as others were. I watched the entire video. The new contract has 2 types of benifit plans:#1 SERVICE PENSIONS...25 and out, 30 and out etc. and #2 ACCRUED BENIFIT PENSIONS..retire at 65 type. At age 65 in either plan CS will send you a check for the years you have earned up until January 2008. If CS has to cut benifits the new UPS/TEAMSTER plan would make up the amount cut if you took a #1 SERVICE PENSION. What is NOT clear from the video is if the new plan would make up the amount cut by CS if you took #2 ACCRUED BENIFIT normal-type pension. Please watch and listen to the video very carefully.When the pension expert is talking about the new plan making up for a shortfall in CS it is always in reference to a #1 SERVICE PENSION. Also when hall (I think) speaks about the issue it seems to always be in reference to the #1SERVICE PENSION. The whole video is very carefully worded and sections seem to be cropped out. So the question remains;if I take a regular pension (#2 ACCRUED PENSION) not a 30 and out type (#1 SERVICE PENSION) would the new fund make up the shortfall if CS cuts???? Is there a pension expert out there without an agenda? I would be inclined to vote yes if UPS is guarenteeing both types,no if not. [/QUOTE]
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