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UPS Union Issues
Danny Eason on WLW Radio
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<blockquote data-quote="nospinzone" data-source="post: 225093" data-attributes="member: 1335"><p>Red, have you actually looked at the numbers? They are using contribution rates from the 70's and 80's. </p><p></p><p><u>contributions rates back then...</u></p><p>1974 <strong>$19.50 </strong>x 52 Weeks $1,014.00</p><p>1975 <strong>$22.00 </strong>x 52 Weeks $1,144.00</p><p></p><p><u>contributions now</u></p><p>2002 <strong>$166.00 </strong>x 52 Weeks $8,632.00</p><p>2003 <strong>$166.00 </strong>x 52 Weeks $8,632.00</p><p></p><p>Notice the difference in contribution rates? Follow the acutalization and COMPOUNDED INTEREST, which is how investments work in our financial system but the Teamsters wish to ignore, and thats how the APWA asserts that we could have had a $7,000/month pension. Thats how we could have done better without the Teamsters. What did you do with my money, Mr. Hoffa? </p><p></p><p>If we went with APWA today, new hires who retire in 25-30 years would get the $7,000/month and more. Can APWA still give us the $7,000/month pension using our actual contributions that the IBT has flushed down the toilet? No. The APWA can't recover money that the IBT mismanaged. </p><p></p><p>As demonstrated above, Mr. Moore and the IBT's arguement that we are comparing apples to oranges is called....... SPIN.</p></blockquote><p></p>
[QUOTE="nospinzone, post: 225093, member: 1335"] Red, have you actually looked at the numbers? They are using contribution rates from the 70's and 80's. [U]contributions rates back then...[/U] 1974 [B]$19.50 [/B]x 52 Weeks $1,014.00 1975 [B]$22.00 [/B]x 52 Weeks $1,144.00 [U]contributions now[/U] 2002 [B]$166.00 [/B]x 52 Weeks $8,632.00 2003 [B]$166.00 [/B]x 52 Weeks $8,632.00 Notice the difference in contribution rates? Follow the acutalization and COMPOUNDED INTEREST, which is how investments work in our financial system but the Teamsters wish to ignore, and thats how the APWA asserts that we could have had a $7,000/month pension. Thats how we could have done better without the Teamsters. What did you do with my money, Mr. Hoffa? If we went with APWA today, new hires who retire in 25-30 years would get the $7,000/month and more. Can APWA still give us the $7,000/month pension using our actual contributions that the IBT has flushed down the toilet? No. The APWA can't recover money that the IBT mismanaged. As demonstrated above, Mr. Moore and the IBT's arguement that we are comparing apples to oranges is called....... SPIN. [/QUOTE]
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