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UPS Union Issues
Are part-time employees in the union funding the FT pension fund?
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<blockquote data-quote="DELACROIX" data-source="post: 4570818" data-attributes="member: 49065"><p>I am presuming that you are in the central or southern conferences and participate as a part time employee with UPS...You are under again the "UPS Pension Plan", it is a company controlled defined pension plan that has been in existence since l973. It takes 5 years vesting in order to qualify for a benefit once you reach the age of 65 (look under Aricle 34 master in your recent contract book for the details).</p><p></p><p>Full time is separate from your part time service, so if you retire under both plans you will get two checks ..One under the IBT/UPS Pension plan and the other from your part time years of service under the "UPS Pension Plan". The Central States formula will not apply to you since you were hired way after 2007, so ignore that wording...</p><p></p><p>To answer your question as to whether the part timers are paying into the full timer's pension is "NO"...Totally separate..I believe that roughly the Company has to provide around 500 dollars a week for every full time employee according to contractual lanuage, whether that applies to the IBT/UPS Pension Plan is subject to clarification since it is a "defined benefit plan" as is the UPS Pension Plan for part timers also.</p><p></p><p>The Union controlled Peer 80 (multi-state) pension plan in the Western is considered a "monetary contribution plan" and is governed by Article 34 master, part timers are participating into that plan the same as full timers and the companies under the collective bargaining agreements have to monetary contribute a set amount weekly. The same monetary contributions also applies under our individual Health and Welfare plans, again about roughly 500 dollars per full time and 350 dollar per part time weekly....</p></blockquote><p></p>
[QUOTE="DELACROIX, post: 4570818, member: 49065"] I am presuming that you are in the central or southern conferences and participate as a part time employee with UPS...You are under again the "UPS Pension Plan", it is a company controlled defined pension plan that has been in existence since l973. It takes 5 years vesting in order to qualify for a benefit once you reach the age of 65 (look under Aricle 34 master in your recent contract book for the details). Full time is separate from your part time service, so if you retire under both plans you will get two checks ..One under the IBT/UPS Pension plan and the other from your part time years of service under the "UPS Pension Plan". The Central States formula will not apply to you since you were hired way after 2007, so ignore that wording... To answer your question as to whether the part timers are paying into the full timer's pension is "NO"...Totally separate..I believe that roughly the Company has to provide around 500 dollars a week for every full time employee according to contractual lanuage, whether that applies to the IBT/UPS Pension Plan is subject to clarification since it is a "defined benefit plan" as is the UPS Pension Plan for part timers also. The Union controlled Peer 80 (multi-state) pension plan in the Western is considered a "monetary contribution plan" and is governed by Article 34 master, part timers are participating into that plan the same as full timers and the companies under the collective bargaining agreements have to monetary contribute a set amount weekly. The same monetary contributions also applies under our individual Health and Welfare plans, again about roughly 500 dollars per full time and 350 dollar per part time weekly.... [/QUOTE]
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Are part-time employees in the union funding the FT pension fund?
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