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Brown Cafe UPS Forum
UPS Union Issues
$13000 additional pension contribution to each member
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<blockquote data-quote="DELACROIX" data-source="post: 3358583" data-attributes="member: 49065"><p>Still waiting for a knowledgeable respondence to BrownIE's inquiry..? The leadership did contribute over twice as much the last year (5 Billion) compared to the previous year (2.5 Billion). It was a smart decision on a corporate tax deduction, but with ever action there is an underlining reason. Those in management will be seeing a buy out of sorts soon, I reasoned that there was a plan to get the UPS Retirement Plan vested to over 90 percent, it makes sense that the company will be making a deal for early outs and lump sum pension payouts to dwindle down the added costs of keeping those management employees who have 5 to 20 years in that plan. Considering the plan is on it's own after 2023 (no more monetary annually contributions) it is obvious that they will need that money to pay for the added costs that will be associated with a possible Central States collapse. </p><p></p><p>The restructuring rumors might be valid, start planning before it is announced. Those with over 20 years will be more than likely be given a package deal which I hope will be better than the 2010 one.</p><p></p><p>The IBT/UPS pension plan is currently protected through collective bargaining, the UPS Pension Plan the same way for most of the part time employees and a majority of the full time members who have vested time under that plan as part timers.</p></blockquote><p></p>
[QUOTE="DELACROIX, post: 3358583, member: 49065"] Still waiting for a knowledgeable respondence to BrownIE's inquiry..? The leadership did contribute over twice as much the last year (5 Billion) compared to the previous year (2.5 Billion). It was a smart decision on a corporate tax deduction, but with ever action there is an underlining reason. Those in management will be seeing a buy out of sorts soon, I reasoned that there was a plan to get the UPS Retirement Plan vested to over 90 percent, it makes sense that the company will be making a deal for early outs and lump sum pension payouts to dwindle down the added costs of keeping those management employees who have 5 to 20 years in that plan. Considering the plan is on it's own after 2023 (no more monetary annually contributions) it is obvious that they will need that money to pay for the added costs that will be associated with a possible Central States collapse. The restructuring rumors might be valid, start planning before it is announced. Those with over 20 years will be more than likely be given a package deal which I hope will be better than the 2010 one. The IBT/UPS pension plan is currently protected through collective bargaining, the UPS Pension Plan the same way for most of the part time employees and a majority of the full time members who have vested time under that plan as part timers. [/QUOTE]
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$13000 additional pension contribution to each member
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