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UPS Union Issues
Company and teamsters have a tenative agreement taking over Central States ?
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<blockquote data-quote="Bill" data-source="post: 227873" data-attributes="member: 5483"><p>You are correct when you said that the agreement was between CS and UPS, not with the Teamsters. I doubt the Teamsters would be willing to allow UPS to withdraw from the CS pension fund as it would weaken the pensions of employees outside of UPS. However, I disagree with you on your statement that "withdrawing would not do anything for the employees. The billions in payments would not get any additional benefits". ON august 1, 2007, under the terms of the CBA, an additional $28 per week per employee was put into our pension fund, but as was the case in the previous three years, we don't receive a penny of this extra money. Does this make any sense to you? If we stay with CS, then we are doomed with a failing pension fund, and according to the Red Zone amendment signed into law starting in January, we can not get an increase until the fund is 100% funded, which it never will be. In all probability, we will see another cut just to maintain the present funding (49%). We will not see the 25 or 30 and out pension back unless we exit CS. Why should we have to work until the age of 62 or 65 and receive less money, because of the mismanagement of the Teamsters and CS. WE have no other choice but to exit CS. UPS has the money and wants the older drivers out, so they would be willing to give us the monthly pension of $3000 after 30 years of work at any age. If we don't want the company (UPS) to control the pension, then we would need an independent union (APWA), where all the pension money that UPS contributes goes to its employees. This is a no brainer and the best option.</p></blockquote><p></p>
[QUOTE="Bill, post: 227873, member: 5483"] You are correct when you said that the agreement was between CS and UPS, not with the Teamsters. I doubt the Teamsters would be willing to allow UPS to withdraw from the CS pension fund as it would weaken the pensions of employees outside of UPS. However, I disagree with you on your statement that "withdrawing would not do anything for the employees. The billions in payments would not get any additional benefits". ON august 1, 2007, under the terms of the CBA, an additional $28 per week per employee was put into our pension fund, but as was the case in the previous three years, we don't receive a penny of this extra money. Does this make any sense to you? If we stay with CS, then we are doomed with a failing pension fund, and according to the Red Zone amendment signed into law starting in January, we can not get an increase until the fund is 100% funded, which it never will be. In all probability, we will see another cut just to maintain the present funding (49%). We will not see the 25 or 30 and out pension back unless we exit CS. Why should we have to work until the age of 62 or 65 and receive less money, because of the mismanagement of the Teamsters and CS. WE have no other choice but to exit CS. UPS has the money and wants the older drivers out, so they would be willing to give us the monthly pension of $3000 after 30 years of work at any age. If we don't want the company (UPS) to control the pension, then we would need an independent union (APWA), where all the pension money that UPS contributes goes to its employees. This is a no brainer and the best option. [/QUOTE]
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Company and teamsters have a tenative agreement taking over Central States ?
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