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Brown Cafe UPS Forum
UPS Partners
Management Buy-out and Pension cut
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<blockquote data-quote="Brown Beamer" data-source="post: 145098" data-attributes="member: 7836"><p>The buyout also includes 20/10 UPS employees not just SCS, I should know since I am one of them. My department would take a 15% to 20% reduction if the offer is widely accepted. The general consensus within the group was flat.</p><p> </p><p>We went through the initial presentation this afternoon. The PowerPoint was "light" on details but, the pension is still intact.</p><p>Basically, one week for every year of service, one additional month, and any unused 2007 vacation. This looks a lot like the 1995 offering.</p><p> </p><p>There was a mention of reduced pension (basically the further from 55 the greater the reduction plus) with a "lump sum" to help make up the difference. Of course we did not get the formula on the conference call and it was the only question asked. Next Day Air packets are being delivered to our home address tomorrow with the exact details.</p></blockquote><p></p>
[QUOTE="Brown Beamer, post: 145098, member: 7836"] The buyout also includes 20/10 UPS employees not just SCS, I should know since I am one of them. My department would take a 15% to 20% reduction if the offer is widely accepted. The general consensus within the group was flat. We went through the initial presentation this afternoon. The PowerPoint was "light" on details but, the pension is still intact. Basically, one week for every year of service, one additional month, and any unused 2007 vacation. This looks a lot like the 1995 offering. There was a mention of reduced pension (basically the further from 55 the greater the reduction plus) with a "lump sum" to help make up the difference. Of course we did not get the formula on the conference call and it was the only question asked. Next Day Air packets are being delivered to our home address tomorrow with the exact details. [/QUOTE]
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Management Buy-out and Pension cut
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