Working while retired

Does anyone have any info on the restrictions being removed on how much you can work after you retire?

this is just a rumor i heard but i heard that the only thing that isn't allowed now is driving jobs that compete with unions.

I can't speak for the various plans around the country but as for Central States, they've reverted back to the old work rules in place prior to the the most recent IBT/UPS contract. I've heard numerous stories about retirees working even jobs that don't compete with union work having problems but not sure how true. A couple of guys I know retired over the last few years and our local told them that if they planned to work they should contact the local and they would tell them if that work conflicted with the work rules. This is no guarantee either way but it sure beats the "no work" period the Central States trustees had taken after the contract was ratified.

A company run plan has many pros and cons just as our current sitution does as well but the one attractive aspect of a company plan is there were no work restrictions. I respect the fact of a limitation on taking another union job but outside of that I don't think it's any of the union's business what I do after I've put in my time. Besides, if the union's various plans had done a better job the funds would be there to provide us with such a good retirement that work for pay would not even be an issue for many folks. UPS Teamsters need to push and push hard for removal of all work restrictions except working another union job. I do think that is legit. Have a good one!

You know I didint even know there was restrictions, But you know a man will work if needs to regardless<font face="arial,helvetica"></font>

Hopefully this will all be settled in the next 9 years. If not, I plan to sue. You are correct wkmac, the Teamsters have no right sticking their noses into my retirement employment. It shouldn’t be surprising though, liberals tend to demand total control over our lives. I’ll carry the argument one step further, If I gain employment with a union company and they make H&amp;W contributions how does that harm the union?

"Liberals tend to demand total control over our lives."

Good grief dude. Where in the hell are you living? Sounds like some sort of parallel universe to me. That statement made my tin foil hat smoke.

dammor………

Sorry, no tin foil hats in my world.
I’ll keep it short and sweet. The Teamster’s Leadership (Liberals) never met a government program (involvement in our lives) they didn’t embrace. Attempting to control our employment after a UPS career is just an extension of their desire to make us dependant on the Teamsters. Unions love to wave the flag and shout for “Worker Freedom” and “Worker Rights”. I guess that doesn’t apply to retired Teamsters.

How do you go about getting those restrictions lifted. This is not a contractual thing. This is part of the restricitions the Pension Plans have impossed on us. That is our money and we have earned it. When we have met the requirements to recieve it, it should have no further restrictions placed on it.

What Is ERISA?

The Employee Retirement Income Security Act of 1974 (ERISA)

"Under certain circumstances (described below), your pension payments after you reach normal retirement age may be suspended if you return to work. For example, ERISA permits a multiemployer plan to suspend the payment of normal retirement benefits if you return to work in the same industry, the same trade, and the same geographical area covered by the plan as when benefits commenced.

Before suspending benefit payments, however, the plan must notify you of the suspension during the first calendar month in which the plan withholds payments. The notification must give you the information on why benefit payments are suspended, a general summary and a copy of the plan's suspension of benefit provisions, a statement regarding the Department of Labor regulations, and information on the plan's procedure under which you may request a review of the decisions to suspend benefit payments. If most of this information is contained in the plan's summary plan description, the notification may simply refer to the appropriate pages of the summary plan description.

A plan that suspends benefit payments must advise you of its procedures for requesting an advance determination of whether a particular type of reemployment would result in a suspension of benefit payments. If you are a retiree and are considering taking a job, you may wish to write to the administrator of your plan to ask if your pension benefits would be suspended.

http://www.dol.gov/ebsa/publications/wyskapr.html

upsdude..........

I don't disagree with you on the retirement issue we are discussing here. I believe Central States has flipped on that issue. I may be wrong though. My problem is with your statement that liberals seem to demand total control over our lives. We live in different parts of the country no doubt. Where I live the only way you can catch a breath is if the "righteous" are on a different mission. I don't appreciate either side telling me what to do. Your irritation seems to be with Teamsters and I have some of that also. Don't label all liberals with being in sinc with what you consider to be the teamsters mentality. To me a liberal is a person that has and open mind and is willing to talk about most anything without throwing too many swords.

(Message edited by dammor on August 29, 2003)

dammor......

Our differences may be in definition. To me a Liberal is the person that wants Government involved in every aspect of our lives. A person that takes very little if any personal responsibility for their lives and actions. A Conservative on the other hand wants to be left alone and takes total responsibility for their life and needs. I see this retirement battle as one you and I would fight side by side.

Upsdude you dont think that the Union put those restriction in order to keep as much money in the fund as they can do you???? I know the big evil Liberal Union senario wanting to control every part of our lives makes sense to you, but I am thinking the Union makes a big chunk of their money managing our pension funds (taking a pecentage of the total value of the funds).Self preservation is what is behind the restrictions. I think you have a case of liberal phobia.

kid: you are right about the union making money off the pension fund.

I agree with all of the posts that state the work after retirement restrictions should be removed from the pension language.

Thanks for all the input guys, I am learning alot.
It just really burns me that the teamsters keeps such restrictions on what we do after we retire. They have cut back on how fast are pension grows while they are receiving the highest contribution rate from the company. They don't give cost of living adjustments after we retire and then they tell you if you can work or not to pick up a couple of extra dollars.

kidlogic:

I can't believe it..I agree with you on another point.

Given the choise of being Liberal or money grabbing, the Teamsters will pick money grabbing EVERYTIME.

They will hide their money grabbing behind their Liberal agenda, but in the end, we all know what really matters to the Teamsters.

What matters to the Teamsters? Robbing the slush, I mean pension, fund.

Has anyone heard the latest rumor--The Teamsters want to do away with 30 and out/any age. They want to set the age at 57. I was looking forward to retiring in 3 1/2 years, at 52...

I am not even close to it and know very little about it but I thought it was 25 and out.

We have a 25 and out, at $2000 per month/no insurance.

depends upon what local represents you. we have $2800.00/month with insurance(actually you pay $50.00/month.

ups79, which local and where? That sounds like a pretty good deal.

Has anyone heard the latest rumor--The Teamsters want to do away with 30 and out/any age. They want to set the age at 57. I was looking forward to retiring in 3 1/2 years, at 52...

if you retire before the next contract...what difference does it make to you?

Heard the same type rumor but who can say if it's true. We just got a mailing in the last few weeks of the financial health of Central States and it's not good at all. You can't expect UPS and the other Teamster companies to pony up for the gross mismanagement of these various funds. Some would say it's a combination of bad market dynamics coupled with an ever growing baby boomer retiree group but the simple truth is a good fudicary manager would have planned for these variables and the conditions we now see might be lessen from impact. I don't see things changing and in fact will probably get worse and the insult to injury is we may regret the day, if not already, the blind allegience we gave to Carey and crew in 1997'. We had a chance for once to play one against the other and get a good deal but it's probably gone forever. JMO.

deliveryman: local 710 out of chicago

deliveryman: i failed to mention that was the pension since nov. 2000. we have heard that is about to be raised. they are going to provide the ups employees a higher pension due to the fact that are company is paying a considerable larger amount into the pensions plan then other companies that are in it. i assume after nov. 1st, but it might be after the first of 2004. it hasnot raised since nov. 2000.