Is there a news article showing the increased interest? I'm still on the fence about APWA... But change is usual a good thing.....
Is there a news article showing the increased interest?.....
I am a mechanic and my pension in 13 years will be $9866 at the current rate of $6.35 per hour. Our pension is the ONLY pension we aren't funding any other non UPS shop's. The teamster's however put all the money in one big bowl per say and you have alot of trucking co's out of business that are still drawing that pension with no money coming in from that defunct company so eventually it's going to run out. You guy's should have taken the company up in 1997 on there offer to control the pension. The guy's in the central state's would be better off!!!!Members of the IAM (typically automotive and PE mechanics) make more on pension than they made working if they retire with full pension.
The pay rate and the pension contribution rate is about the same as a full time teamster driver.
$1 earning a conservative 7% compounded over 30 years would multiply more than 6 times. The contributed amount should not be equal to well invested funds over a long period.
A person starting today and with a contribution of $12,000 per year would accumulate over $2 million in 30 years without any increase in contributions.
Ask an IAM member to look up their estimated pension on the IAM web site.
The real question is not - How can the APWA or any other organization pay these amounts?
The question should be - Why can't the Teamsters and where did the money go?
Do the math that is impossible, so whoever you heard that from smack them in the back of the head!!! I know mechanic's and drivers that are retired and the most recent guy's are getting $4000 and up!!I heard that out of every dollar UPS contributes only 40 cents goes back to UPS employee's. I have not found if this is true or not.
The problem is that UPS is covering pensions for companies under the IBT umbrella that no longer exist. Companies that no longer contribute only collect a pension. Companies with more people collecting than contributing. If we received all the money UPS contributes for us our pension would be triple what it is. IBT needs UPS in order to support all the other companies it represents.
$4000 a month???? Maybe in Jersey but they aren't getting that here.Do the math that is impossible, so whoever you heard that from smack them in the back of the head!!! I know mechanic's and drivers that are retired and the most recent guy's are getting $4000 and up!!
What you guy's ought to do is when the contract expire's see if parcel will revisit taking over your pension. Teamster 251 I understand what you mean by teamster's should take care of other teamsters but when you retire who do you think will be financial shape? The teamster's or UPS? At least that way you can roll over your pension. If you guy's join the apwa It's like quitting and starting over from scratch again you can't transfer fund's to them.
No your wrong what they are jumping at is the only smart allternative choice they have to get some good honest non corrupt representation.A union that will work for the employees not say one thing and do another.How long are the people going to stand bye and just hope that things are going to get better?What would you say IF the APWA turns out to be way better than the IBT ever was?You speak about how great theIBT is show me what they have to offer.Prove that the early contract talks are not just because HOFFA is up for re election.UPS has nothing to loose they don 't want nothing to do with a strike.But you MR. hard core TEAMSTER post some hard facts what the IBT can get versus the APWA?All you here about from your fellow brothers is how the pensions are under funded how they will be working to age 62 or maybe 65.Just tell the freight side one good reason why we need the IBT rather then the APWA/PLEASE!Believe me I'm no fan of the APWA.
All these band wagon jumpers are biting at that $7000 per month pension like a striper hits chunk bait.
It not fair to all those retired that earned thier pensions to be penalized becuase their companies close the doors on them. UPS ageed to muti-pensions they need to help make it work.
In this day and age no one is safe from financial ruin. What makes UPS so safe?
I see waste, foolish spending, and chaotic operation everyday. I see a line haul (Fast Lane) operation that's spinning it wheels and could improve 1000% with knowlegable people running it.
There is a cancer in this company and it called "the notion of a bottomless pit of money"
My money's on the muti-pension plans and making the investment to make them work for all Teamster involved.
I'd vote for a freeze in wages and double my pension contributions instead of the raise.
Invest in your future.
How can APWA offer a monthly pension that almost meets your monthly gross?
The dollars and cents or it doesn't add up.
UPS pays a weekly amount to the Teamsters that would not increase with the APWA without re-negioating.
Lets see 300 per week times 4 is 1200 per month to the teamters
times 12 is 14,400 per year after thirty years that 432,000 comtributed on your behalf.
APWA is going to pay you 7000 per montly, 84,000 annually.
If you live 10 years into rewtirenent thats 840,000.
Where does the extra 412,000 come from?