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UPS Retirement Topics
Could this happen here?
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<blockquote data-quote="Black_6_Leader" data-source="post: 946375" data-attributes="member: 9413"><p>I think that we need to seperate the UPS Management plan (which also covers the UPS Pilots ~ at their request) from the various plans which cover the UPS Teamsters. </p><p></p><p>I believce that under the trustee-ship arangements that cover the current Teamster pension; it takes representatives of both management and the Teamsters to make a change to the payout formulas. </p><p></p><p>The Central States plan; now that is a spacial case unto its self. With the special deals (like cutting the contribution for YRC Teamsters and not curtailing the benifits) and what I percieve to be general under funding; the Teamsters will run that one into the ground without any help.</p><p></p><p>As for the Management plan; for some employees (I believe for those under age 28) ~ it is NO longer a defined benifit plan. For those folks, the pension looks and feels like an enhanced 401K. For those under the defined benifit plan (a traditional pension); I would worry. I would become very familiar with the Pension Benifit Guarantee Corporation's website <a href="http://www.pbgc.gov/wr/benefits/guaranteed-benefits/maximum-guarantee.html" target="_blank">Maximum Monthly Guarantee Tables</a> . That is truly the ONLY guarantee you have.</p></blockquote><p></p>
[QUOTE="Black_6_Leader, post: 946375, member: 9413"] I think that we need to seperate the UPS Management plan (which also covers the UPS Pilots ~ at their request) from the various plans which cover the UPS Teamsters. I believce that under the trustee-ship arangements that cover the current Teamster pension; it takes representatives of both management and the Teamsters to make a change to the payout formulas. The Central States plan; now that is a spacial case unto its self. With the special deals (like cutting the contribution for YRC Teamsters and not curtailing the benifits) and what I percieve to be general under funding; the Teamsters will run that one into the ground without any help. As for the Management plan; for some employees (I believe for those under age 28) ~ it is NO longer a defined benifit plan. For those folks, the pension looks and feels like an enhanced 401K. For those under the defined benifit plan (a traditional pension); I would worry. I would become very familiar with the Pension Benifit Guarantee Corporation's website [url=http://www.pbgc.gov/wr/benefits/guaranteed-benefits/maximum-guarantee.html]Maximum Monthly Guarantee Tables[/url] . That is truly the ONLY guarantee you have. [/QUOTE]
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