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UPS Retirement Topics
Is Central States pension fund ready to go under?
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<blockquote data-quote="area43" data-source="post: 233586" data-attributes="member: 4862"><p>Brown, I know for a fact that its 214 a week just for the pension. Now, that has changed (214 a wk) due to it being august. I plan to buy my last year out in about four years so by then it will be around 11 grand to buy it out. This is in Virginia, it could be dfferent in other parts of the country. As for the insurance I believe no buy out is required. Just pay the monthly premiums that are at about 400 dollars a month or close to it. Full Timers tend to forget this. On top of what we make UPS pays an additonal amount of roughly over 20,000 dollars a year per ft hourly directly to the Teamsters to cover our Health ins and pension.</p><p> </p><p>Another quick point. Under funded. Again, there are some that say the CS fund is under funded and partly blame UPS. Curious, do you base that on the whole fund in and of itself or do you base it on UPS's individual employee contributions. I believe UPS has geniously made contributions via Teamsters prodding on our behalf. $856 a month just for our pension, but of course there are some that disagree that this isn't enough.</p></blockquote><p></p>
[QUOTE="area43, post: 233586, member: 4862"] Brown, I know for a fact that its 214 a week just for the pension. Now, that has changed (214 a wk) due to it being august. I plan to buy my last year out in about four years so by then it will be around 11 grand to buy it out. This is in Virginia, it could be dfferent in other parts of the country. As for the insurance I believe no buy out is required. Just pay the monthly premiums that are at about 400 dollars a month or close to it. Full Timers tend to forget this. On top of what we make UPS pays an additonal amount of roughly over 20,000 dollars a year per ft hourly directly to the Teamsters to cover our Health ins and pension. Another quick point. Under funded. Again, there are some that say the CS fund is under funded and partly blame UPS. Curious, do you base that on the whole fund in and of itself or do you base it on UPS's individual employee contributions. I believe UPS has geniously made contributions via Teamsters prodding on our behalf. $856 a month just for our pension, but of course there are some that disagree that this isn't enough. [/QUOTE]
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Is Central States pension fund ready to go under?
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