15% PENSION CUT COMING SOON

Discussion in 'UPS Union Issues' started by anHOURover, Apr 18, 2017.

  1. anHOURover

    anHOURover I CHECK THE OIL IN YOUR FAMILY MINIVAN

    THIS IS AFTER THE LOCAL TALKED THE MEMBERS INTO GIVING AWAY THEIr RAISES IN 2010. Still failing

    Cheech Chittenden
     
  2. UpstateNYUPSer

    UpstateNYUPSer Very proud grandfather.

    Clifton Park, NY?
     
  3. Indecisi0n

    Indecisi0n Well-Known Member

    THE SKY IS FALLING !
     
  4. BrownMonk

    BrownMonk Active Member

    I thought you were with the Philadelphia fund? That fund is doing pretty well.
     
  5. oldupsman

    oldupsman Well-Known Member

    If you call 70% funded well.
     
  6. anHOURover

    anHOURover I CHECK THE OIL IN YOUR FAMILY MINIVAN

    this is in in ny
    yes I'm in Philly
    pension cuts coming to a local near you soon
     
  7. BrownMonk

    BrownMonk Active Member

    First, it is over 70%. Second,70% means that if the Fund stopped taking contributions today, that they would make it over 50 years for everyone entitled to money today. You just aren't looking at the big picture. If you move into the green, there is no withdraw liability to all the other companies. In otherwords, the white paper contracts would bail out of the fund and talk their guys into a 401K. Those future funds would not be there everyone else in the future.

    If you're talking NY, they announced that they aren't going forward with any cuts(15%) because of some concerns from the Treasury Dept.
     
  8. retired2000

    retired2000 Active Member

    Wrong ny withdrew the proposal from the treasury dept to tweak it. They will send it back again. Cuts are said to be in oct of this year. Do not know what percent they are looking at now
     
  9. UpstateNYUPSer

    UpstateNYUPSer Very proud grandfather.

    The cuts will remain the same.
     
  10. Coldworld

    Coldworld Taking it all back.....

    Why the hell are you guys getting a full pension credit with working only 1000 hours a year... Out west it's 2080 for a full year credit...doesn't make any sense???
     
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  11. UpstateNYUPSer

    UpstateNYUPSer Very proud grandfather.

    You are 100% correct.

    I have advocated for an increase to at least 1500 hours but it remains at 1000.
     
  12. retired2000

    retired2000 Active Member

    The letter we got the other day said because of the cuts coming a few months later the cuts maybe deeper
     
  13. UpstateNYUPSer

    UpstateNYUPSer Very proud grandfather.

  14. Coldworld

    Coldworld Taking it all back.....

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  15. UpstateNYUPSer

    UpstateNYUPSer Very proud grandfather.

    Normally I would but he is about to lose 31% of his monthly pension so it would be like pouring salt in the wound.
     
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  16. BigUnionGuy

    BigUnionGuy Got the T-Shirt


    How much is your "projected" reduction ?



    -Bug-
     
  17. Coldworld

    Coldworld Taking it all back.....

    Are you guys in the same pension???
     
  18. Coldworld

    Coldworld Taking it all back.....

    What is the reason you were given for not having more hours go into the pension??? Is it ups who doesn't want to do it or does it come down to the union???? 1000 hours has to be one of the lowest in the country...,
     
  19. UpstateNYUPSer

    UpstateNYUPSer Very proud grandfather.

    20%.
     
  20. UpstateNYUPSer

    UpstateNYUPSer Very proud grandfather.

    Union.