Congratulations on pension increase

[hoopdedoo]

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.

 

[oldupsman]

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

 

[balland chain]

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.

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 !

 

[The Milkman]

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.

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........ Other Members are being HUNG out to dry..................

 

[opie]

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

 

[Jackburton]

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 !

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.

 

[The Milkman]

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

BINGO!!!!!!!!

 

[dutch]

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.

 

[Omega man]

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.

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.

 

[rudy5150]

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.

Who will this affect? just full timers??? part timers? both?

 

[ikoi62]

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

 

[ikoi62]

It will only be for the fulltime members

 

[Omega man]

It will only be for the fulltime members

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.

 

[Anonymous 10]

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 !

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.

 

[bluehdmc]

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: http://www.browncafe.com/forum/f39/getting-shaft-350025/#ixzz2Sqm8rpZ1

 

[Anonymous 10]

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.

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

 

[IVE GOTTA PACKAGE 4U]

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

That's twice as much as our pension fund has!

 

[Anonymous 10]

That's twice as much as our pension fund has!

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

 

[OffRoutesPay]

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

How much is you pension??

 

[OffRoutesPay]

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

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.