What I heard is limited. Anyone born after 1979 will be under new pension system... increased company match to 5%, no actual pension. Anyone born before that date is still under the old system.
Anyone heard any more?
That there were changes being announced. That's all I could get from the conversation.
What is the LTIP plan or what does that stand for?
you can bet your sweat bippy they aren't gonna change that. Those big wigs didn't spend years kissing miles and miles of Brown..... to get where they are just to lower the $$$ they can get.
Eskew spent his years rewarding his boys (long term, upper management upsers) for mediocre performance. He did make sure that all of us below the district manager level got our 3% raises and had to hold onto the flat stock. That's BS because bottom line is that we can't impact the stock price no matter how hard we work. Maybe Scott D (not a lifetime upser) will refuse to reward them for a flat stock price and still reward them for it. Wall St. doesn't reward their mediocre performance and neither should the CEO and management committee. I like Scott's performance so far. I hope that he keeps making moves realizing that the management structure in small package is still bad and that changes there need to be made to get good results in that area. There's a reason that we're seeing little improvement in dispatch and misload issues - we're not giving it the attention it needs because business managers on up don't understand how to manage the dispatch using technology. How many division managers actually focus on tomorrow's plans at all? We need fewer bigshots and more frontline that know what they're doing if we're going to make significant gains on road.
This 1979 and beyond plan doesn't make any sense to me. What your saying is that UPS will continue it's current pension plan for basically the next 30 years as it exsist today. I fail to see that this change is all there is. I have no facts or rumors to expand on, but , it is my feeling that you are going to see a much bigger change to the current plan than this.
If you are working for UPS today and you were born in 1979 or later, you still have 26 years to retirement based on the current age of 55. What I think you might be hearing is one component of the changes coming. I guess we'll all know soon!!
Remember the big fish always eats the little ones!!!!