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Brown Cafe UPS Forum
UPS Union Issues
Local 952 wins again! Bye bye TDU!
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<blockquote data-quote="Inthegame" data-source="post: 2112886" data-attributes="member: 37112"><p>Contribution rates have risen dramatically over the last thirty years. In 1985, UPS was contributing only $50 per member per week (in 1975 $21 per week). So using today's numbers of $400 per week causes an inaccurate assumed total "pot".</p><p>In my case, I could have retired with over $36K per year benefit 10 years ago. I would have surpassed the total contribution UPS paid on my behalf in 5 years.</p><p>The new mortality tables have men living to their mid to upper 80's which means I could have drawn just under 1.2 ml on a 200K total "investment". And that's not considering the survivor benefit.</p><p>Anyway, the IRA angle is fine as another source of income with all the risk and responsibility on the <em>individual</em>. The negotiated pension is a <em>group</em> benefit, and when professionally and properly operated will last indefinitely. Union contracts normally negotiate on behalf of the group rather than the individual. It's why it's called a "union".</p></blockquote><p></p>
[QUOTE="Inthegame, post: 2112886, member: 37112"] Contribution rates have risen dramatically over the last thirty years. In 1985, UPS was contributing only $50 per member per week (in 1975 $21 per week). So using today's numbers of $400 per week causes an inaccurate assumed total "pot". In my case, I could have retired with over $36K per year benefit 10 years ago. I would have surpassed the total contribution UPS paid on my behalf in 5 years. The new mortality tables have men living to their mid to upper 80's which means I could have drawn just under 1.2 ml on a 200K total "investment". And that's not considering the survivor benefit. Anyway, the IRA angle is fine as another source of income with all the risk and responsibility on the [I]individual[/I]. The negotiated pension is a [I]group[/I] benefit, and when professionally and properly operated will last indefinitely. Union contracts normally negotiate on behalf of the group rather than the individual. It's why it's called a "union". [/QUOTE]
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Local 952 wins again! Bye bye TDU!
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