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UPS Discussions
Driver Buyouts?
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<blockquote data-quote="UpstateNYUPSer(Ret)" data-source="post: 944888" data-attributes="member: 12570"><p>I don't think we will see driver buyouts. I will use my local as an example. Our pension plan is in trouble. If UPS did offer driver buyouts for drivers with 25 or more years of service our local would have to adjust the pension plan to allow those employees to begin drawing their pension, which would put a strain on the plan to the point where it may become insolvent. I think UPS will try to save on the other end by introducing a two-tiered wage system for new FT seniority drivers as part of their contract proposal for 2013. Drivers who get their seniority on or after the date of ratification would start at a lower wage, have a longer progression with a lower top out. I think the company will offer a signing bonus to try to get this implemented.</p></blockquote><p></p>
[QUOTE="UpstateNYUPSer(Ret), post: 944888, member: 12570"] I don't think we will see driver buyouts. I will use my local as an example. Our pension plan is in trouble. If UPS did offer driver buyouts for drivers with 25 or more years of service our local would have to adjust the pension plan to allow those employees to begin drawing their pension, which would put a strain on the plan to the point where it may become insolvent. I think UPS will try to save on the other end by introducing a two-tiered wage system for new FT seniority drivers as part of their contract proposal for 2013. Drivers who get their seniority on or after the date of ratification would start at a lower wage, have a longer progression with a lower top out. I think the company will offer a signing bonus to try to get this implemented. [/QUOTE]
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