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UPS Retirement Topics
Has IBT/CS been a wise steward of our pension?
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<blockquote data-quote="pkgman688" data-source="post: 52906"><p>Do you really think a two year pay freeze would take care of $4 billion dollars? </p><p>Why do you think everybody would take a pay freeze to cover Central States? The last figure I saw for UPSer's in CS was roughly 44,000. </p><p>Taking that 44,000 number with an average paid day of 9.5 hours with either an .75 cents or $1 average raise per year. </p><p>(40 hours + (1.5 hours*1.5)) * 52 weeks * 44000 members * either .75/hr or $1/hr </p><p>You get 117.26 million per year savings with $1 raise or 87.9 million per year savings with .75 raise. Compunding the amount you save on future year raises $1/hr the first year and $3 the second year ($1 the first year and $2 for the second year) and so forth, you get these savings. </p><p> </p><p>Year 1 - 117.26 87.9 </p><p>Year 2 - 351.78 263.7 </p><p>Year 3 - 703.56 527.4 </p><p>Year 4 - 1172.60 879.0 </p><p>Year 5 - 1758.90 1318.5 </p><p>Year 6 - 2462.46 1845.9 </p><p>Year 7 - 3283.28 2461.2 </p><p>Year 8 - 4221.36 3164.4 </p><p>Year 9 - 3955.5 </p><p>Year 10 - 4834.5 </p><p> </p><p>Its ether slightly over 8 or 9 years of no raises to cover the $4 billion dollars for the 44000 UPS members of Central States. But you say there is 120,000 part-timers and 80,000 full-timers at UPS. If everyone took a pay freeze it would be a shorter period of time - maybe closers to two years. I will do that math later today, if you want to argue that point. But first can you reconcile the two statements. </p><p> </p><p>1. UPS puts in enough money for me to have a better pension than I am going to get from Central States. Make those other employers pay for their employees pension. </p><p>2. Ups puts in enough money for me to have a better pension from my non-Central States pension (Local 688, in my case). Make those other employees take a pay freeze to get a better pension. </p><p> </p><p>Oops! I am looking out for myself while I do not want to help anyone else. But I want everyone else to help me while I do not look out for them.</p></blockquote><p></p>
[QUOTE="pkgman688, post: 52906"] Do you really think a two year pay freeze would take care of $4 billion dollars? Why do you think everybody would take a pay freeze to cover Central States? The last figure I saw for UPSer's in CS was roughly 44,000. Taking that 44,000 number with an average paid day of 9.5 hours with either an .75 cents or $1 average raise per year. (40 hours + (1.5 hours*1.5)) * 52 weeks * 44000 members * either .75/hr or $1/hr You get 117.26 million per year savings with $1 raise or 87.9 million per year savings with .75 raise. Compunding the amount you save on future year raises $1/hr the first year and $3 the second year ($1 the first year and $2 for the second year) and so forth, you get these savings. Year 1 - 117.26 87.9 Year 2 - 351.78 263.7 Year 3 - 703.56 527.4 Year 4 - 1172.60 879.0 Year 5 - 1758.90 1318.5 Year 6 - 2462.46 1845.9 Year 7 - 3283.28 2461.2 Year 8 - 4221.36 3164.4 Year 9 - 3955.5 Year 10 - 4834.5 Its ether slightly over 8 or 9 years of no raises to cover the $4 billion dollars for the 44000 UPS members of Central States. But you say there is 120,000 part-timers and 80,000 full-timers at UPS. If everyone took a pay freeze it would be a shorter period of time - maybe closers to two years. I will do that math later today, if you want to argue that point. But first can you reconcile the two statements. 1. UPS puts in enough money for me to have a better pension than I am going to get from Central States. Make those other employers pay for their employees pension. 2. Ups puts in enough money for me to have a better pension from my non-Central States pension (Local 688, in my case). Make those other employees take a pay freeze to get a better pension. Oops! I am looking out for myself while I do not want to help anyone else. But I want everyone else to help me while I do not look out for them. [/QUOTE]
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