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Brown Cafe UPS Forum
UPS Union Issues
Has the Teamsters sold you out?
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<blockquote data-quote="Bill" data-source="post: 194744" data-attributes="member: 5483"><p>First of all, I explained that under the teamsters, we receive less than half of UPS contributions because of obligations to employees of other companies. The APWA is forming a union that represents only UPS people, thus we are credited with the full amount of $214 per week. If you calculate the pensions credits that we should have received,( but didn't under the Teamsters), for the past 30 years with the appropriate interest rates factored in, we would all have approximately $800,000 in our retirement accounts now. Now calculate the $214 per week over the next 30 years (assuming no additions per year from UPS) at a conservative interest rate of 8%, and we would all have over $1,200,000. If the Teamsters didn't mismanage our pension fund, we would all have a nice nest egg, but as it stands now, we don't have anywhere near that amount. So once again, why should we allow the Teamsters to continue to operate our funds and run it into the ground?</p></blockquote><p></p>
[QUOTE="Bill, post: 194744, member: 5483"] First of all, I explained that under the teamsters, we receive less than half of UPS contributions because of obligations to employees of other companies. The APWA is forming a union that represents only UPS people, thus we are credited with the full amount of $214 per week. If you calculate the pensions credits that we should have received,( but didn't under the Teamsters), for the past 30 years with the appropriate interest rates factored in, we would all have approximately $800,000 in our retirement accounts now. Now calculate the $214 per week over the next 30 years (assuming no additions per year from UPS) at a conservative interest rate of 8%, and we would all have over $1,200,000. If the Teamsters didn't mismanage our pension fund, we would all have a nice nest egg, but as it stands now, we don't have anywhere near that amount. So once again, why should we allow the Teamsters to continue to operate our funds and run it into the ground? [/QUOTE]
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Has the Teamsters sold you out?
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