542thruNthru
Well-Known Member
When I retire I'll have a great pension and medical.
What pension does UPS provide now? Also how good is this so called free medical when retired?
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- Thread starter 542thruNthru
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What pension does UPS provide now? Also how good is this so called free medical when retired?
burrheadd
KING Of GIFS
Can you share it with the class or is it some kind of secret
free medical up to when medicare starts then the ups is the secondary at the cost of 120 dollars a month....add up to 2500 dollars a year for out of pocket medical expenses....also your wife is also covered and when you pass away your wife continues on the medical and 2500 a year
And what about the newer supervisors that do not have any pension plan?
DELACROIX
In the Spirit of Honore' Daumier
I wonder if the Company will continue to provide medical coverage for it’s retired management people when they quit vesting in the UPS Retirement Plan in 2023?
Just A UPS Guy
Bully.
Are they getting like a $20,000 year match?
DELACROIX
In the Spirit of Honore' Daumier
These corporations can change your retiree healthcare insurance at any time if the decide to. Currently you are safe , for now.
BigUnionGuy
Got the T-Shirt
All the clerks in Ohio voted to stay in that plan.
They didn't want to be moved to that "mafia" controlled Central States.
It was mid to later 90's.... if I remember correctly.
I would have opted for a good 401k over a defined pension either company or union.. I can do better than either with my money. its a slush fund for the union as well as the company. consider the survival rate of people actually retiring from either the union or the company...its a money maker for both. the company didnt change their retirement policy to lose money and I think the union will follow at some point in the near future once the costs are too much. in this case the company is actually pro-active
DELACROIX
In the Spirit of Honore' Daumier
Trust me on this one BUG... there was no vote... who told you that anyway?
In the 1993 contract under the “Ohio Rider” there was language related to the option of the Clerks switching to Central States, that only applied to the members who originally had vested time under the Central, the others did not have that option.
Bottom line is that the brother who retired left with 2150 had 50 full time years and the higher ups in the International did not give a damn or even addressed the issue, even when letters over the years were sent asking for help.
They basically “cut and ran” over this. A clear display of weakness or worst.
I just used this as an small example on how our members’ pension benefits differ according to what plan or supplement you are under. The West gets this much, the East that much and the Central and Southern gets the crumbs.
You seen it...
DELACROIX
In the Spirit of Honore' Daumier
I can see the Company trying to get out of the “UPS Pension Plan” for part timers under the Central and Southern, they have total control of that (defined pension plan). The fact is not many of our part timers are hanging around past 5 years to become vested.
There is a reason why the Company is eliminating vesting in the “UPS Retirement Plans” in 2023 which corresponds to to end of 2018 contract agreement. They want out of financing their defined pension plans, they are expecting or projecting severe increases in maintaining and insuring these plans.
Just study what is happening to most of the pension trusts in America today, most of the corporations are bailing out and going to a 401k match. These 401k’s do have the ability to transfer, whereas vested time under a traditional pension plan are limited and hard to get to, most are conditioned to start when the employe turns 65 and are not transferable.
For the members who are under most of the Multi Employer Teamster controlled “Monetary Contribution Pension Trusts” like the Western and some parts of the East nothing will change. They will receive the weekly monetary contributions and will grow and provide increases for all their participants, as membership grows in those those areas and their investments continue to return good results those members can expect a possible 300 plus per service year pension benefit.
My opinion is that this 2023 Contract will all about (PENSIONS).. remember also that the pilots and the airline mechanics contract expires at the same time as the Teamsters.
BigUnionGuy
Got the T-Shirt
I'm not going to say "we can agree to disagree" nor, will I discount your version.
I've just heard a different version of what happened.... and experienced some of the anger over it.
Thats all.
And Saturdays...
NAHimGOOD
Nothing to see here.... Move along.
Yeah...
See the thing about that is...
THE 224 Mafia don't take orders from nobody...
And...
We don't do others work.
Best contract evar
542thruNthru
Well-Known Member
NAHimGOOD
Nothing to see here.... Move along.
542thruNthru
Well-Known Member
I'm just here to help.
