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Brown Cafe UPS Forum
UPS Partners
Management Buy-out and Pension cut
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<blockquote data-quote="BROWNHOG" data-source="post: 191467" data-attributes="member: 9720"><p>1) Full Time Inside Management Jobs Are Going Away, Replaced By Specialists.</p><p>2) If You Do Not Have A Degree Or Are Activly Working On It, Your Not Considered For A Full Time Position</p><p>3) The Pension Will Be Converted To A " Cash Plan " For New Ups Employees Going Into Management ( New Hire Date To Be Determined )</p><p>4) This Contract Is The Last Time Ups Is Going To Help The Teamsters Bail Out Their Pension Fund And The Teamsters Know It. We Are Getting Out Of The Parcel Business In The Usa ( 10 Year Plan )</p><p>5) There Is A Buyout Coming, But Terms Are Rumor Based, But Stated Facts To Date Are: ( Elimination Of Mip For Management Below Manager Level...pension Plan Conversion To Cash Plan Which Will Be Portable..increase In Ups Match To Either Your 401 K ..or Ups Stock Plan..older Workers Are Grandfathered.</p><p>6) Payout In $$ For Years Of Service With A Freeze For Any " Fixed Or Grandfathered Pension ( Age 50 Or Older With 30 Or More )</p><p>7) Payout In Cash For Years Served If Your Younger Than 50 And Decide To Take A Deal. More Later</p></blockquote><p></p>
[QUOTE="BROWNHOG, post: 191467, member: 9720"] 1) Full Time Inside Management Jobs Are Going Away, Replaced By Specialists. 2) If You Do Not Have A Degree Or Are Activly Working On It, Your Not Considered For A Full Time Position 3) The Pension Will Be Converted To A " Cash Plan " For New Ups Employees Going Into Management ( New Hire Date To Be Determined ) 4) This Contract Is The Last Time Ups Is Going To Help The Teamsters Bail Out Their Pension Fund And The Teamsters Know It. We Are Getting Out Of The Parcel Business In The Usa ( 10 Year Plan ) 5) There Is A Buyout Coming, But Terms Are Rumor Based, But Stated Facts To Date Are: ( Elimination Of Mip For Management Below Manager Level...pension Plan Conversion To Cash Plan Which Will Be Portable..increase In Ups Match To Either Your 401 K ..or Ups Stock Plan..older Workers Are Grandfathered. 6) Payout In $$ For Years Of Service With A Freeze For Any " Fixed Or Grandfathered Pension ( Age 50 Or Older With 30 Or More ) 7) Payout In Cash For Years Served If Your Younger Than 50 And Decide To Take A Deal. More Later [/QUOTE]
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Management Buy-out and Pension cut
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