NATIONAL MASTER UNITED PARCEL SERVICE AGREEMENT
For the Period of August 1, 2002 through July 31, 2008
ARTICLE 34. HEALTH & WELFARE AND PENSION
(i)
UPS Part-Time Pension Plan
(1.) The
UPS Pension Plan will be improved to provide monthly benefits for part-time employees not covered by Teamster Pension Plans as follows: The benefit formula in the
UPS Pension Plan for current or future part-time employees who are participants will be increased effective August 1, 2004 to fifty-five dollars ($55.00) for each year of past and future Credited Service to a maximum of thirty-five (35) years of Credited Service.
For example, the total monthly benefit will be equal to the following provided the employee meets the Credited Service requirement:
$1,925 for retirement at any age after 35 years of part-time Credited Service
$1,650 for retirement at any age after 30 years of part-time Credited Service
$1,375 for retirement at age 60 with 25 years of part-time Credited Service
$1,125 for retirement at any age with 25 years of part-time Credited Service
(based on $45.00 per year of Credited Service)
(2.) Part-time employees will receive one (1) year of Credited Service for seven hundred fifty (750) or more paid hours. (Six (6) months of part-time Credited Service will be granted for three hundred seventy-five (375) to five hundred (500) hours worked in a calendar year, and nine (9) months of part-time Credited Service will be granted for five hundred one (501) to seven hundred forty-nine (749) hours worked in a calendar year.) This paragraph will also be applied to determine Credited Service for all full-time employees on the payroll on August 1, 2002 who were formally participants in the
UPS Pension Plan.
(3.) The Employer will be responsible for funding the
UPS Pension Plan as required to provide the benefits described above and will be responsible for maintaining the plan.
(4.) The
UPS Pension Plan will be governed by the terms of the Plan document.
(5.) Effective August 1, 2002, the Employer will grant additional years of Credited Service in accordance with the terms of the Plan to all full-time and part-time employees on the payroll on August 1, 2002, who worked for
UPS after they were twenty-one (21) but were denied Credited Service solely because the
UPS Pension Plan required that an employee be age twenty-five (25) or older to participate in the
UPS Pension Plan.
(6.) For those multi-employer pension plans with which the
UPS Pension Plan does not have reciprocity, the
UPS Pension Plan will execute a mutually agreeable reciprocity agreement with those plans.
The National Master Agreement is available right here on BrownCafe . . .
http://www.browncafe.com/ups_nationa...agreement.html 
Part timers pension 
Re: Part timers pension 
Re: Part timers pension 
