U`nder P`ermanent S`tress
UPS willing to pay 6.1 billion pre tax dollars to withdraw from current pension fund, they don't control, so they can create a new one that they can control, ask yourself why? It hurts the Employer now, but in the long run who will it hurt? 35 cent/hr wage increase every 6 months, wow thats like a 1.25% raise which, maybe will help me pay for the cost of a gallon of regular gas. 60 day probation period for new hires and now 3 years till top scale. $2000 pension at 25 years of service if you are younger than 65 $2500 if 65 or older, maxed out at $3500 for 35 years of service, lets see I would have to work an additional 20 years till age 65. 20 plus the 19 years I have now would be 39 years of service for $3500, hope my body holds up and UPS does not lenghten the normal retirement age of 65. I wonder what the life expectancy is after 65? I obtained all of this information from Teamsters.org, you can download the new contract proposal there and read/see for yourself.