Congratulations on pension increase

Discussion in 'UPS Union Issues' started by hoopdedoo, May 9, 2013.

  1. hoopdedoo

    hoopdedoo Guest

    Congrats to the leadership at Teamsters Local 177 for obtaining for its members a $400.00/mo. raise in their pensions. This is especially noteworthy since just a few days ago many teamsters recieved a letter stating that the pension was in critical status meaning that the plan was in critical status last year and is projected to have an accumulated funding deficiency within the next 9 years.
  2. oldupsman

    oldupsman Well-Known Member

    I'm sorta curious. How are they going to do that?
  3. balland chain

    balland chain Member

    Too bad all the locals wont go to bad for their members.. But what can you expect here in the south with the good ole boy network !
  4. The Milkman

    The Milkman Well-Known Member

    Just wondering Hoop how they can do this?? Did not the government step in a few years ago with New pension reform Rules?? Is Local 177 exempt from playing by the Rules? Wonder how other Upsers around the country feel about this? Maybe UPS is somehow involved in this issue behind others backs...Would not surprise me one bit...Hush Money ....I can hear it now, bags and bags of it exchanging hands somehow........:hang: Other Members are being HUNG out to dry..................:not_fair::why:
  5. opie

    opie Member

    The $400 increase will just cancel out the increased premiums retirees have to pay.
  6. Jackburton

    Jackburton Gone Fish'n

    728 got 200.00 a month added, totaling 3200.00 for 30 and out. Not that that's a lot for pension, it should pay for my living exspenses so I don't touch my real retirement until late 60's.
  7. The Milkman

    The Milkman Well-Known Member


  8. dutch

    dutch New Member

    The pension increase for 177 from what i understand is due to the fact the local has decided to take 30 cents from each pay raise and put it towards the pension. So instead of getting 70 cents they would only be getting 40 cents the first three years then 50 cents the fourth and 70 cents the final year. Not sure if its going through or not or if all members want that but I hear thats how its working.
  9. Omega man

    Omega man Active Member

    Also, the Company is coming up with an additional $1.20 an employee hour worked which is why it is possible. By law, Pension fund payouts for Funds going through a rehab process can only be increased if dedicated new funds are put directly to it. Congratulations for negotiating that increase Local 177.
    I hope the membership is smart enough to vote for the 30 cent diversion to the fund.
    If not, it all goes away.
  10. rudy5150

    rudy5150 Active Member

    Who will this affect? just full timers??? part timers? both?
  11. ikoi62

    ikoi62 Member

    No Increase yet for local 177 it first has to be voted on by the fulltime members.
  12. ikoi62

    ikoi62 Member

    It will only be for the fulltime members
  13. Omega man

    Omega man Active Member

    The fulltime members of Local 177 are in a joint company/union controlled pension plan.
    The partimers are in a different company only controlled plan.
  14. Anonymous 10

    Anonymous 10 Guest

    Instead of complaining about a good ole boy network how about you vote out the GOP. They are the start of all labors problems. Right to work scabs make me want to puke in my mouth.
  15. bluehdmc

    bluehdmc Well-Known Member

    I posted this in another thread here. I like the idea of a pension increase but.......

    The problem I see in giving up $.30 per hr of out raises per year is what happens to the $.45 per hr the company would pay out in OT?
    NOTHING!!! It doesn't get paid!
    Yeah, I know $.30 isn't much $624.00 a yr for 40x52, but if you figure a modest 5 hrs overtime equals $117 per year times 2000 drivers that equals $234,000.00 a yr the company doesnt' have to pay!!
    $468000 the 2nd yr, (the $.30 given up the first yr and $.30 given up the 2nd yr) $702000 the 3rd yr ,$936,000 the 4th yr, $1,170,000 the 5th yr. That's just on the $.45 for OT for 5hrs OT for 2000 drivers.
    I'm not sure how many drivers are in our local but this seems like a win for the company. We're only credited for the first 40 hrs paid in a week. That's OK. I'd be more for this proposal if the OT monies were just put into the general pension fund, not letting the company "save" this money.

    Read more:
  16. Anonymous 10

    Anonymous 10 Guest

    in my pension I get all my raises and the pension. Damn I love my 106.31% funded pension. Oh yea thank you hall.
  17. Gumby

    Gumby *

    That's twice as much as our pension fund has!
  18. Anonymous 10

    Anonymous 10 Guest

    Acording to scabs like 1realbrown hat one of the reasons he doesn't like hall. I don't know about you but I kinda like my 106%31 funded pension. Thanks hall
  19. OffRoutesPay

    OffRoutesPay New Member

    How much is you pension??
  20. OffRoutesPay

    OffRoutesPay New Member

    Hope your not in the Central States Pension then I'll feel bad , they lost 25 and out away and if it is 106% funded it can go way up but UPS doesnt want a pension thats not in the green.