Local 104 Pension Contributions 1990-2013 VOTE YES

[104Feeder]

Since Andy came on board prior to the 1997 Contract we have seen dramatic increases in our Pension contributions, $6.55/hr over 17 years, $.385/yr on average vs $.20 the previous two contracts. Also we have seen the previously unreachable 2080 hours become so under "all compensible" won in 2002. Other Locals in the WCT have similiar and in some cases better increases per their supplements. We can all afford to take a brief "time out" and start our new Healthcare plan.

Notes to the graph: Prior to 2002, 173 hours/month guarantee hours only. Post 2002 all compensible up to 2080. Peer contributions were broken out in 2002 but are kept as total contribution for the sake of continuity. 2013 contribution is based on the current WCT agreement yet to be voted on.

Total increases to contributions by Contract:
1990-1992: $.66
1993-1996: $.80
1997-2001: $1.05
2002-2007: $2.25
2008-2012: $3.00
2013- tbd

​Vote Yes!

 

[upsset]

What is your current pension monthly payout ?
​

 

[104Feeder]

From retirees with 'normal' status (mostly full time, no supervisory time, no gaps in contributions, ~30 years service, etc) I'm hearing over $5000/month.

 

[Evil]

Since Andy came on board prior to the 1997 Contract we have seen dramatic increases in our Pension contributions, $6.55/hr over 17 years, $.385/yr on average vs $.20 the previous two contracts. Also we have seen the previously unreachable 2080 hours become so under "all compensible" won in 2002. Other Locals in the WCT have similiar and in some cases better increases per their supplements. We can all afford to take a brief "time out" and start our new Healthcare plan.

Notes to the graph: Prior to 2002, 173 hours/month guarantee hours only. Post 2002 all compensible up to 2080. Peer contributions were broken out in 2002 but are kept as total contribution for the sake of continuity. 2013 contribution is based on the current WCT agreement yet to be voted on.

Total increases to contributions by Contract:
1990-1992: $.66
1993-1996: $.80
1997-2001: $1.05
2002-2007: $2.25
2008-2012: $3.00
2013- tbd

Vote Yes!

The 2013-2018 contract was a pile of garbage: $2.50

But that's not the worse part. $2.25 are going to pay for that inferior healthcare the marshmallow man negotiated. Some refer to it as the "carve-out" and others as the Western Conference and Local 177 Health and Welfare Fund.

So a full-time worker is paying today, $1,040 per year for their healthcare insurance.

The Marshmallow man dropped the ball and he should be blasted for it!

 

[104Feeder]

You're completely wrong.
Half of the $1/hr is available for pension, half for H&W.
If costs exceed projections the difference would come from the pension contribution.
So far costs have been less than expected. Each year is To Be Determined so you apparently have a crystal ball.
While there were some rough spots in the beginning, every one brought to me was quickly handled by a direct call to Andy and benefits have remained the same or better as our previous Company plan. I haven't heard about a complaint regarding our benefits in over a year.

Even if not a dime was available for pension contributions, a full time worker has $20,094 going into their pension provided they work at least 2040 hours. You have nothing to complain about.

 

[Lead Belly]

You're completely wrong.
Half of the $1/hr is available for pension, half for H&W.
If costs exceed projections the difference would come from the pension contribution.
So far costs have been less than expected. Each year is To Be Determined so you apparently have a crystal ball.
While there were some rough spots in the beginning, every one brought to me was quickly handled by a direct call to Andy and benefits have remained the same or better as our previous Company plan. I haven't heard about a complaint regarding our benefits in over a year.

Even if not a dime was available for pension contributions, a full time worker has $20,094 going into their pension provided they work at least 2040 hours. You have nothing to complain about.

Preach

 

[Coldworld]

From retirees with 'normal' status (mostly full time, no supervisory time, no gaps in contributions, ~30 years service, etc) I'm hearing over $5000/month.

It is important to clarify that out west all part time years are lumped together with full time years... Unlike some parts of the country where it is separate. I believe this is a huge advantage for us. Also the part time years can have contributions up to 2080 hours so for all us hub guys who double shifted or air drove all those hours up to 2080 count!!

 

[Coldworld]

From retirees with 'normal' status (mostly full time, no supervisory time, no gaps in contributions, ~30 years service, etc) I'm hearing over $5000/month.

Does every local within the western conference of teamsters trust have peer 80 available to them??

 

[brownmonster]

If we had peer 80 I would be an irrelevant retiree.

 

[Inthegame]

If we had peer 80 I would be an irrelevant retiree.

It is important to clarify that out west all part time years are lumped together with full time years... Unlike some parts of the country where it is separate. I believe this is a huge advantage for us. Also the part time years can have contributions up to 2080 hours so for all us hub guys who double shifted or air drove all those hours up to 2080 count!!

Looks like your plan needs pt contributions...

 

[Lead Belly]

Looks like your plan needs pt contributions...

Can you imagine the anarchy next contract if the teamsters tried to put all ups part timers in the ups/IBT pension plan that's 105% funded?

 

[hellfire]

From retirees with 'normal' status (mostly full time, no supervisory time, no gaps in contributions, ~30 years service, etc) I'm hearing over $5000/month.

not sustainable

 

[realbrown1]

not sustainable

You put almost $20,000.00 a year in for 30 years equal almost $600,000.00 in contributions not including interest and compounding interest for that 30 years.

You take out about $50,000.00 per year for about 20 years equals $1,000,000.00, and most won't make it that long.

Depending on the interest the retirement account earns, this is very sustainable.

 

[Coldworld]

You're completely wrong.
Half of the $1/hr is available for pension, half for H&W.
If costs exceed projections the difference would come from the pension contribution.
So far costs have been less than expected. Each year is To Be Determined so you apparently have a crystal ball.
While there were some rough spots in the beginning, every one brought to me was quickly handled by a direct call to Andy and benefits have remained the same or better as our previous Company plan. I haven't heard about a complaint regarding our benefits in over a year.

Even if not a dime was available for pension contributions, a full time worker has $20,094 going into their pension provided they work at least 2040 hours. You have nothing to complain about.

Can you imagine the anarchy next contract if the teamsters tried to put all ups part timers in the ups/IBT pension plan that's 105% funded?

is this something they have talked about or just get suckered by ups to do it...

 

[Coldworld]

not sustainable

It is in the western conference...in this pension plan ups, and trucking firms in general are a small percentage of the overall employers who contribute money's...unlike other plans where ups and yellow are almost it. It is very well funded and also has 2080 hours to fulfill per year before you get a full point...

 

[Coldworld]

You put almost $20,000.00 a year in for 30 years equal almost $600,000.00 in contributions not including interest and compounding interest for that 30 years.

You take out about $50,000.00 per year for about 20 years equals $1,000,000.00, and most won't make it that long.

Depending on the interest the retirement account earns, this is very sustainable.

Not that I don't believe in the plan but just think if all that money could go into a 401k for 30 years you would have many millions by age 55...I feel lucky to be part of the west coast plan.. For sure

 

[Lead Belly]

is this something they have talked about or just get suckered by ups to do it...

It was a joke. Ups wouldn't want to give up the part timers that are already in the sir existing pension funds. Th y are to well funded with not enough ever change Ming out compared to what goes in. Putting part times in all the funds would help any and all pension funds.

 

[realbrown1]

Not that I don't believe in the plan but just think if all that money could go into a 401k for 30 years you would have many millions by age 55...I feel lucky to be part of the west coast plan.. For sure

I actually agree with you.

I would rather have a 401K with at least a 10% match.

I wouldn't have to worry about the trustees of my pension plan either paying themselves hundreds of thousands of dollars, or just investing in things that I wouldn't.

 

[Coldworld]

It was a joke. Ups wouldn't want to give up the part timers that are already in the sir existing pension funds. Th y are to well funded with not enough ever change Ming out compared to what goes in. Putting part times in all the funds would help any and all pension funds.

It would be interesting to find out the percentage of pt people who work here for a few years then leave before they are vested...

 

[Lead Belly]

It would be interesting to find out the percentage of pt people who work here for a few years then leave before they are vested...

The turnover rate is probably astronomical.