Cardboard carrier
Active Member
What makes this plan the best? How about the cost of health care for retirees???
Monthly pension
- Thread starter Cardboard carrier
- Start date
About 5.4k for 25 and out, pushing 7k for 30 and out.
retiredTxfeeder
cap'n crunch
You know who has the best pension benefits at UPS? You do! It doesn't matter if they make more here...or there.....because you aren't here or there. You're where you are. I could wring my hands together and toss and turn at night, but it's not going to make my check any bigger the 1st of every month. I can't change the fact that not everybody gets the same amount of money. And neither can you. What if this...what if that...if grandma had balls, she'd be grandpa.
realbrown1
Annoy a liberal today. Hit them with facts.
You all know that pensions are Ponzi schemes.
Anything that relies on current member's contributions and returns on investments at a certain level to give a promised monthly pension is alway (eventually) destined to fail.
Don't believe me?
If UPS refuses to negotiate to contribute towards pension funds next contract, and Hoffa's there to IMPOSE the contract on upstart locals, that would COLAPSE every Teamster Pension fund with in 5 years.
Benefits would be drastically cut in EVERY Teamster Pension fund that Upsers are in.
Anything that relies on current member's contributions and returns on investments at a certain level to give a promised monthly pension is alway (eventually) destined to fail.
Don't believe me?
If UPS refuses to negotiate to contribute towards pension funds next contract, and Hoffa's there to IMPOSE the contract on upstart locals, that would COLAPSE every Teamster Pension fund with in 5 years.
Benefits would be drastically cut in EVERY Teamster Pension fund that Upsers are in.
oldupsman
Well-Known Member
How can that possibly be sustainable. That's more than some guys are making working. A year at straight time
is approx. $70,000. You're telling me they can afford to give out a pension of $84,000 a year? There is no way
that can continue.
oldupsman
Well-Known Member
That can't continue either. $66,000 a year? All these numbers are just unrealistic.
ski or die
Ski or Die
At some point $7000 per month will be looking at the same problems as Central States. Sooner than later I believe.
oldupsman
Well-Known Member
You bet. About 15 years ago our local had a chart up actually telling guys that at 30 and out at 55 you would be getting $8000
a month. I used to just laugh at it. The young guys all believed it telling me they they would be getting alot more than me
because UPS was paying so much in now. I told them if you think you're going to get a pension of $96000 a year you're
dreaming. Eventually they took the chart down. Now max in our fund at 55 and 30 is $4000 a month. Reality sucks.
It's certainly possible. They've already lowered the accrual rate, 6-7 years ago it was over 400 currently it's about 300. Funding level is 87% and that number is projected to rise over the next 6 years.
Cardboard carrier
Active Member
How many would retire asap if that figure was an option?
I'll let ya know in a couple years
jerseyupser
Well-Known Member
Wow that's pretty good. What part of country is that in?
brownmonster
Man of Great Wisdom
Pretty good? More like ridiculous.
DC, MD, and VA.
wkmac
Well-Known Member
We're half that although the recent contract raised 30 and out from $3k at the start of the contract to $3400 a month come 2017'. Even with the raise we're still half it appears.
35 years service at start of current contract was $3500 per and will raise to $3900 per come 2017.
25 and out last I looked (long time ago) was $2500 but that may have ticked up as well. I'm well pass that years of service level so I don't keep up with it.
These are the figures for the Central States/UPS plan Southern Conference.
jerseyupser
Well-Known Member
Why so high??
