Discussion in 'UPS Retirement Topics' started by rod, Apr 30, 2019.
He's a good guy. We're lucky to have him.
he told me that @BakerMayfield2018 is unappreciative
Strange he told me that BakerMayfield loves him and his mother.
Best as I remember from that long ago, might have been a provision that would allow the company to end the pension at any time?
Not sure if I remember correctly.
In 1997 UPS was offering 100 dollars per full time service year and 50 dollars per part time service year..Capped at 35 years.
The vested time under whatever teamster's run pension plan would of been used for monetary credit and vesting..When the employee retires, the current requirement of waiting till age 65 would of not been in effect.
All the pension plans that the teamster had control of of would of been under the company control..Even the current Western Conference. The monetary savings under a defined controlled pension plan would of saved them billions, they would not have to pay into the the plans any weekly monetary contributions like they obligated to do under the current teamster's controlled pension plans like the Western. The UPS/IBT pension plan and the UPS Pension Plan are defined pension plans, they are only obligated to pay at the end of the year a required amount to covered the promised benefit amounts.
The Health and Welfare cost per retiree would of been at 50 dollars per month covering any dependents...We all know how that would of payed out with the rise of medical coverages over the last 22 years.
Just using an example of the UPS Pension Plan for part timers and the lack of any real improvements for those vested who were part time or any current part timer under the Central Supplement it would of hurt all of us if the company took total control of our pension plans back in "97". Study their history with pension and health and welfare packages for their "partners" to prove that point.
Next contract.."Mark My Words"..The UPS Pension Plan for part timers will be on the chopping block, in fact I expect major changes under every benefit plan that UPS is current paying into under the collective bargaining agreements.
I did better investing than they did and I know nothing about it!
Law Protecting Teamster Pensions Clears Major Hurdle
powdered milk was great for cooking my grams said.
It's nasty to drink...
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