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Brown Cafe UPS Forum
UPS Union Issues
is there any chance of 25 and out at any age next contract?
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<blockquote data-quote="beentheredonethat" data-source="post: 843884" data-attributes="member: 4886"><p>Thanks for the update. I didn't realize it was that high. I know the number from the 90's when I did payroll. I asked and got the number secondhand for current rate. But the new number you gave further strengthens my argument. Go to a financial advisor. Show him\her what UPS puts into a retirement account for you. Then ask what you should get at different retirement ages. I'm sure the number is a lot higher then what you will be getting. What happened with all the money? Also, think of all those PT people (at least in New England) where they work for UPS less then 5 years and aren't vested but all that money went into the fund. That's a lot of money. This isn't an issue of UPS not contributing enough it's an issue of other companies not contributing the same amount (even though all teamsters get the same amount in retirement (assuming same region ie New England Pension fund)). It's also an issue of mismangement. Also to another poster who indicated what is being offered by other funds. Let's also look at what the funding status of those funds. </p><p>How comfortable do you feel if the funding level of your fund is in critical status?</p></blockquote><p></p>
[QUOTE="beentheredonethat, post: 843884, member: 4886"] Thanks for the update. I didn't realize it was that high. I know the number from the 90's when I did payroll. I asked and got the number secondhand for current rate. But the new number you gave further strengthens my argument. Go to a financial advisor. Show him\her what UPS puts into a retirement account for you. Then ask what you should get at different retirement ages. I'm sure the number is a lot higher then what you will be getting. What happened with all the money? Also, think of all those PT people (at least in New England) where they work for UPS less then 5 years and aren't vested but all that money went into the fund. That's a lot of money. This isn't an issue of UPS not contributing enough it's an issue of other companies not contributing the same amount (even though all teamsters get the same amount in retirement (assuming same region ie New England Pension fund)). It's also an issue of mismangement. Also to another poster who indicated what is being offered by other funds. Let's also look at what the funding status of those funds. How comfortable do you feel if the funding level of your fund is in critical status? [/QUOTE]
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is there any chance of 25 and out at any age next contract?
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