30 and out? What's going on in the Central States?

[sportz_nut]

I have 26 years in. Was planning on going out at age 51 with 30 years. I was just told that I am now going to have to go until 55. Is there any truth to that? I thought it was 30 and out at any age. Is each area different? Someone else said it is 35 to maintain insurance....

I have heard so many rumors....beginning to wonder what is really happening here!

 

[rod]

Call your local---this isn't the best place to be asking really important questions. You will get 10 answers and chances are none of them will be correct.

 

[oldngray]

My center has 30 and out at any age and because of concerns over losing that in next contract almost everyone who was eligible retired the past couple of years. It was take the money and run if you can. Not everyone has 30 and out at any age like we do though. It does vary depending on where you are.

 

[UpstateNYUPSer(Ret)]

We used to have 30 and out at any age but due to our pension being underfunded we voted to impose a minimum retirement age of 55 with 30 years of service. Members who had 26 years or more in at the time were grandfathered.

Any changes to your pension must be voted on by the members. Any questions about your pension are best answered by your pension fund, not an Internet forum.

 

[Fullhouse]

You can retire at 25, 30, or 35. The only question is this- Do you want insurance if you retire under the aage of 55? See that is what the confusion is. In CS a member can not obtain insurance when they retire unless, they are age 55 or older. A member must be in the CS employee plan the month prior to joining the CS retirement health care plan. Then at age 65 you are no longer eligible for CS retirement plan.

 

[oldngray]

You can retire at 25, 30, or 35. The only question is this- Do you want insurance if you retire under the aage of 55? See that is what the confusion is. In CS a member can not obtain insurance when they retire unless, they are age 55 or older. A member must be in the CS employee plan the month prior to joining the CS retirement health care plan. Then at age 65 you are no longer eligible for CS retirement plan.

It depends. I am in CS but have UPS insurance and retired with 34 years under age 55. If you are covered by CS plan, then yes, no insurance until 55.

 

[What'dyabringmetoday???]

Save a bunch of money and you won't need the stinkin' pension.
​lol

 

[brownmonster]

Save a bunch of money and you won't need the stinkin' pension.
​lol

Lol all you want but some of these people shook up over a couple hundred bucks in retirement would feel better with half a million sitting in a 401k.

 

[bogeyball]

I have 26 years in. Was planning on going out at age 51 with 30 years. I was just told that I am now going to have to go until 55. Is there any truth to that? I thought it was 30 and out at any age. Is each area different? Someone else said it is 35 to maintain insurance....

I have heard so many rumors....beginning to wonder what is really happening here!

I'm sure this may have something to do with
O hoffa's motives...
http://dailycaller.com/2013/04/18/teamsters-pension-crisis-sapping-hoffas-support-power/

 

[Asskicker]

That's true. I'm in the same boat. They just added that in. I urge all to vote no to this. If you look at the tentative agreement on tdu.org it is under the pension or health care part. Read it for yourself. And you won't have to wait if we vote this contract down.

 

[Dracula]

Teamsters pension crisis sapping Hoffa’s support, power | The Daily Caller

This is why any additions UPS makes to our pension really means nothing. Central States told us that there is NO POSSIBILITY of earning it's way out of the hole it is in. It's not a question of if the pension fund runs out of money, but when it does. That is a fact. CS mentioned that only Congressional legislation can help the fund. Um, good luck with that, unless said legislation is an across the board cut in the pension. That is, most likely, what will happen. Either way, whatever promises UPS gives us regarding the amount of money we are due at retirement, will be a shadow of what we will most likely receive.

The bottom line is this: any extra money UPS is to contribute according to this contract, if approved, will be shiny paint on a rusted-out car.

Sad, but true. Start filling those 401(k)s now people.

 

[bogeyball]

Teamsters pension crisis sapping Hoffa’s support, power | The Daily Caller

This is why any additions UPS makes to our pension really means nothing. Central States told us that there is NO POSSIBILITY of earning it's way out of the hole it is in. It's not a question of if the pension fund runs out of money, but when it does. That is a fact. CS mentioned that only Congressional legislation can help the fund. Um, good luck with that, unless said legislation is an across the board cut in the pension. That is, most likely, what will happen. Either way, whatever promises UPS gives us regarding the amount of money we are due at retirement, will be a shadow of what we will most likely receive.

The bottom line is this: any extra money UPS is to contribute according to this contract, if approved, will be shiny paint on a rusted-out car.

Sad, but true. Start filling those 401(k)s now people.

Well put...when folks step back and look upon these "agreements" with a "follow the money" eye....they may see that there is more complicity than bargaining coming from our union leadership.
I am a realist...and the reality is that, CS cannot sustain itself. But it is what it is, and like the low information voters, this T A will get pushed through.
Just saying...