More gloom and doom..CS is tanking

[hellfire]

So everyone in CS is safe from the cuts, all other locals, that were paying much more to its retired members with the same years of service, are the ones that face financial uncertainty. Ups is saving us, this has gone full circle

 

[UPSmechanicinblue]

So everyone in CS is safe from the cuts, all other locals, that were paying much more to its retired members with the same years of service, are the ones that face financial uncertainty. Ups is saving us, this has gone full circle

Looking that way, ones that retired in CS that didnt work one day into our prior contract(switched to UPS/teamsters fund) would be hit first if more cuts are needed(they are not protected where UPS makes up difference), the ones getting cut 1st are the retirees in CS like my father that retired from a company that is no longer in business.

 

[hellfire]

Looking that way, ones that retired in CS that didnt work one day into our prior contract(switched to UPS/teamsters fund) would be hit first if more cuts are needed(they are not protected where UPS makes up difference), the ones getting cut 1st are the retirees in CS like my father that retired from a company that is no longer in business.

All understandable and noble, however, how many upsers in CS would agree to take future cuts to keep the failing union afloat. It presents a definite dillema that I think the teamsters will never win support for

 

[UPSmechanicinblue]

All understandable and noble, however, how many upsers in CS would agree to take future cuts to keep the failing union afloat. It presents a definite dillema that I think the teamsters will never win support for

you do know CS is nothing to do with the Union financially? Union support for the ones still in the fund is going to plummet. I thing some of the trucking companies have been working 2 years to get 1 year of credit in CS. Told by a Holland driver this has been going on for awhile. i know they will be in an uproar, they have no protection like we do unless they can get it in their next contract.

 

[silenze]

Why keep contributing to our pensions when half the people here admit that they may not exist in the future. Give us the money

 

[UPSmechanicinblue]

have to remember talk is they are cutting the ones that retired from companies that are out of business.

 

[UPSmechanicinblue]

have to remember talk is they are cutting the ones that retired from companies that are out of business.

sorry, wrong post

 

[Brownslave688]

Why keep contributing to our pensions when half the people here admit that they may not exist in the future. Give us the money

Exactly.

I can tell you right now I'll be raising hell come next contract. I'll guess we will get little to no raises (my BA even said this past contract I can't believe you guys got raises this contract). My guess is there will be a large increase in our pension monies though and that won't sit well with this guy.

 

[UpstateNYUPSer(Ret)]

Looking that way, ones that retired in CS that didnt work one day into our prior contract(switched to UPS/teamsters fund) would be hit first if more cuts are needed(they are not protected where UPS makes up difference), the ones getting cut 1st are the retirees in CS like my father that retired from a company that is no longer in business.

Our BA referred to these retirees as "orphans" and, yes, they will be the first to have their pensions cut.

 

[rod]

Got my "Oh woe is me" letter from the Union while I was gone to Texas. I told the wife she will have to get a job now. That didn't go over too good. Sounds like the S..T will hit the fan in about a year from now. I'm surprised they will hold off that long. Maybe I will go get me some of those food stamps.

 

[Jackburton]

Look at the bright side, least you get 5% off for groceries at Kroger on Wednesdays.

 

[rod]

Look at the bright side, least you get 5% off for groceries at Kroger on Wednesdays.

No Kroger's in my town-----we just have a small country store where we trade sacks of potatoes and beaver pelts for 100lb sacks of flour, salt and sugar.

 

[Inthegame]

Why keep contributing to our pensions when half the people here admit that they may not exist in the future. Give us the money

"half the people here admit that they may not exist..."
So you'd let half of the anonymous posters on an internet chat site determine your future? What do half the people in your pension fund think? How well funded and managed is your pension fund? Dollars to donuts you have no idea, yet you're good with opinions of half the people here...none of whom know diddly about how properly run plans operate.
Wow.

 

[realbrown1]

"half the people here admit that they may not exist..."
So you'd let half of the anonymous posters on an internet chat site determine your future? What do half the people in your pension fund think? How well funded and managed is your pension fund? Dollars to donuts you have no idea, yet you're good with opinions of half the people here...none of whom know diddly about how properly run plans operate.
Wow.

Pensions are Ponzi schemes that rely on newer younger workers to help pay for YOUR pension.

They should be illegal and replaced with a retirement plan that money is deposited into EACH workers INDIVIDUAL account to be used for that persons retirement only.

But union officers will never go for that.

Those account don't require $100+k a year TRUSTEE SPOTS that the union higher ups like to be on.

 

[Packmule]

Pensions are Ponzi schemes that rely on newer younger workers to help pay for YOUR pension.

They should be illegal and replaced with a retirement plan that money is deposited into EACH workers INDIVIDUAL account to be used for that persons retirement only.

But union officers will never go for that.

Those account don't require $100+k a year TRUSTEE SPOTS that the union higher ups like to be on.

Same with social security!

 

[Inthegame]

Pensions are Ponzi schemes that rely on newer younger workers to help pay for YOUR pension.

They should be illegal and replaced with a retirement plan that money is deposited into EACH workers INDIVIDUAL account to be used for that persons retirement only.

But union officers will never go for that.

Those account don't require $100+k a year TRUSTEE SPOTS that the union higher ups like to be on.

Another not ready for prime time player steps up. Pension and H&W Trustees are unpaid positions. Always.
A Ponzi scheme pays one investor "interest" with another investors money, without any investment and the house of cards always fails. A pension pays with invested returns, and properly managed is self sustaining in perpetuity.

 

[Mugarolla]

My letter arrived saturday in Michigan, As of now you are correct on not being concerned but in future hope your fellow brothers make sure it's in future contracts that UPS will make up the difference. If they dont your CS portion will be reduced and UPS for sure wont make up the difference.

Exactly.

It is in the contract right now, but it needs to stay in any future contracts.

That clause can be negotiated out in any future contracts and then we will only have the UPS carveout from Congress to count on.

And that could also disappear in the future.

 

[upschuck]

and properly managed is self sustaining in perpetuity.

That is the problem with it, that when the link of a properly managed fund is broken, it is hard to recapture lost monies, which turns it closer to a Ponzi scheme the more links that are broken. In a properly run pension fund, no incoming monies would be needed to fund the retirees.

 

[rod]

This cutting of the pensions for us old broken down retired guys is only a foot in the door of things to come. Eventually all pensions will go the way of the dinosaur. Most everything the old time Union workers had fought for and even died for and is enjoyed by those working today(vacations, excellent pay, insurance, seniority, etc.) will slowly be eaten away (its already started from what I read on here) until working at UPS is no different than working at any other low pay no benefits job. The only way to reverse this trend is to become united and stand up for what is rightfully yours. If the company was losing money or even had a so-called bad quarter things might need to be re-negotiated but that is not the case now.

 

[PT Car Washer]

For a lot of PTers the job is already a low pay no benefits job. But of course that is our fault for not voting. Wonder what will be the FTers excuse.