Bye Bye Pension and Hello to matching 401k coming in 2023?

UnconTROLLed

perfection
Really? So why did those bad old union negotiators include participation in the UPS/Teamsters 401K plan for members in past negotiations?
Never mind, the answer doesn't fit your anti-union bias.
I'd say it is UPS trying to remain competitive in compensation/retirement packages, window dressings, more than anything to do with the unions wishes.
 

BigUnionGuy

Got the T-Shirt
What I find most amusing;

Is the MOU has been in the contract since December 2007.


No one questioned it for 10 years.

All of the sudden (because a 4-year driver) makes a YouTube video....

His "interpretation" is regarded as credible.



-Bug-
 

BakerMayfield2018

Fight the power.
What I find most amusing;

Is the MOU has been in the contract since December 2007.


No one questioned it for 10 years.

All of the sudden (because a 4-year driver) makes a YouTube video....

His "interpretation" is regarded as credible.



-Bug-
The wording “as long as work is available “ is garbage. They hold volume and cut routes. This is common knowledge. With these guys making $6 less an hour you don’t think they will cut the more expensive driver during the week and give the volume to the new guy with no 9.5 protection making less money on the weekends to deliver.........
 

UnconTROLLed

perfection
Of course you would.
Yeah, the IBT truly needs self-reliant, financially independent and critically thinking members. That's their bread and butter!

Everyone knows that UPS delivers lumps of coal for it's employees as well as management outside of the top brass, but I'd still take a 401k match.

BTW my 401k is in much better shape than any meager pension payout would/could be.
 

CoffeeStainedUniform

Well-Known Member
...you don’t think they will cut the more expensive driver during the week and give the volume to the new guy with no 9.5 protection making less money on the weekends to deliver.........
I think you're giving management too much credit. They can't get orion to work, but think they have the mental capacity to optimize comparitive driver wage costs across multiple weeks. I just with they could get my air to me on time...or send the correct diad to my satellite...or...the list is endless.
 

reginald95

Well-Known Member
Pensions are there for those irresponsible people who can't use their own money to invest for their retirement. I have separate investments going on and not relying on a pension to keep me above water in my senior years.
 
I think you're giving management too much credit. They can't get orion to work, but think they have the mental capacity to optimize comparitive driver wage costs across multiple weeks. I just with they could get my air to me on time...or send the correct diad to my satellite...or...the list is endless.
Corporate has the mental capacity and they are writing the play book for the local manager!
 

CoffeeStainedUniform

Well-Known Member
Corporate has the mental capacity and they are writing the play book for the local manager!
You make a good point in theory but I frankly don't see that collusion being the problem. The two tiered system is a huge concession, but I don't think they could make the labor cost manipulation work. Otherwise it would only ever be top rate routes that are ever cut.
 
You make a good point in theory but I frankly don't see that collusion being the problem. The two tiered system is a huge concession, but I don't think they could make the labor cost manipulation work. Otherwise it would only ever be top rate routes that are ever cut.
You are also forgetting all the garbage in article 22.4 that doesn’t protect the combo driver
 

Jones

fILE A GRIEVE!
Staff member
It's kinda weird how all these crackerjack investors are driving trucks for a living, and apparently the only thing keeping them from being billionaires is that they have a pension instead instead of a 401k match...
If you want to know why a pension is a better deal for the vast majority of workers all you have to do is look at the numbers:

This Chart Shows the Average 401(k) Balance at Every Age. See How You Stack Up

Most people just won't save enough on their own.
 
It's kinda weird how all these crackerjack investors are driving trucks for a living, and apparently the only thing keeping them from being billionaires is that they have a pension instead instead of a 401k match...
If you want to know why a pension is a better deal for the vast majority of workers all you have to do is look at the numbers:

This Chart Shows the Average 401(k) Balance at Every Age. See How You Stack Up

Most people just won't save enough on their own.
You are correct that a lot of people won't save enough on their own...but... Just imagine if you had the amount of money that the company pays into our pension plan and the amount of money you put in to social security and your employer puts in the same amount as you do . If you invest all of that money you would be crazy rich when you retired.
 

oldngray

nowhere special
You are cicorre that a lot if people won't Dave enough on their own...but... Just imagine if you had the amount of money that the company pays into our pension plan and the amount of money you put in to social security and your employer puts in the same amount as you do . If you invrsinv all of that money you would be crazy rich when you retired.

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