New Retirement Package

01-19-2008, 08:28 AM

Just got a letter this week about the UPS non union retirement plan. Glad i been here for a while.(I Think) Did anyone ever hear about his before this letter? What do the employees around the country think? Let's hear it.

55andout? · 01-19-2008, 08:24 PM

Quote:

Originally Posted by UPGF Lackey

Just got a letter this week about the UPS non union retirement plan. Glad i been here for a while.(I Think) Did anyone ever hear about his before this letter? What do the employees around the country think? Let's hear it.

Dont relax yet!!! Its only a matter of time before they touch the pensions of people like us who have been around for awhile. When the amount of managment people on the new plan becomes over 50 percent of all managment people, UPS will be allowed to mess with the old pension and change it.(Thats why there is a ? next to my name) The letter was stupid. Its states that the reason for the change is because younger people want a more portable retirement package and that the new package will help attract new managment people. Wouldnt you rather work for a place that had such a great retirement package that you would never consider working anywhere else?

01-20-2008, 10:42 AM

Quote:

Originally Posted by 55andout?

Dont relax yet!!! Its only a matter of time before they touch the pensions of people like us who have been around for awhile. When the amount of managment people on the new plan becomes over 50 percent of all managment people, UPS will be allowed to mess with the old pension and change it.(Thats why there is a ? next to my name) The letter was stupid. Its states that the reason for the change is because younger people want a more portable retirement package and that the new package will help attract new managment people. Wouldnt you rather work for a place that had such a great retirement package that you would never consider working anywhere else?

I agree 100%. I told some fellow employees back in the fall of 2006 or was it 2005 when Conway changed thier plan to somthing similer to this. Everybody follows the lead when there is change. I expect it to change again in a couple of years. That reason they give for this is crazy. I assume that they do not have to pay any medical benefits to these employees . That is the next move I think will happen, no employee retirement medical. It is getting there now with the cost over $400 per person. Again I agree with you 55andout. Anyone else care to comment?

lease1 · 10-01-2008, 07:56 PM

I am a former employee that was a pt pre-loader for 2 years and in FT management as an IE for 8 years. Who do I speak to about eligibility for pension? My email is lease4@comcast.net ..Thanks!

chev · 10-02-2008, 02:24 PM

Quote:

Originally Posted by lease1

I am a former employee that was a pt pre-loader for 2 years and in FT management as an IE for 8 years. Who do I speak to about eligibility for pension? My email is*********** ..Thanks!

Yikes! Not such a good idea posting your e-mail addy. I would suggest you have people P.M you instead.

paidslave · 10-02-2008, 06:51 PM

Quote:

Originally Posted by lease1

I am a former employee that was a pt pre-loader for 2 years and in FT management as an IE for 8 years. Who do I speak to about eligibility for pension? My email is lease4@comcast.net ..Thanks!

Speak to a management person they always know everything!

browndevil · 10-02-2008, 08:13 PM

Quote:

Originally Posted by lease1

I am a former employee that was a pt pre-loader for 2 years and in FT management as an IE for 8 years. Who do I speak to about eligibility for pension? My email is lease4@comcast.net ..Thanks!

I would start with contacting the HR department in the district you worked in

MinnesotaZepher · 10-13-2008, 07:03 PM

So, the new non-union retirement is for people born after 1980 or something. It basically is set up where it is up to an employee to decide what their retirement is going to be. So, its going to be a 401k based retirement. Eventually, individuals under this plan will be able to get up to something like a 6% match on their 401k contributions. Personally, I haven't done the calculations to determine how this is going to work for me in the long haul (comparison to old pension), but I understand why it has to be done, understand that it is the direction that almost all companies are going...

drewed · 10-13-2008, 11:35 PM

Quote:

Originally Posted by MinnesotaZepher

So, the new non-union retirement is for people born after 1980 or something. It basically is set up where it is up to an employee to decide what their retirement is going to be. So, its going to be a 401k based retirement. Eventually, individuals under this plan will be able to get up to something like a 6% match on their 401k contributions. Personally, I haven't done the calculations to determine how this is going to work for me in the long haul (comparison to old pension), but I understand why it has to be done, understand that it is the direction that almost all companies are going...

We had a meeting on this sometime last year, and it goes to 6% .....but they also mentioned something like 9% contribution to a company retirement, they said it could be moved from company to company so i guess it woul have ot be some form of IRA?