More gloom and doom..CS is tanking

[rod]

I retired from UPS as a feeder driver with 34 years of service in August 2008. I have the CD that was sent out by the IBT to all of us in the Central states region describing the proposed changes to the pension plan prior to voting on the supplement. The CD mentions in three separate places the UPS guarantee. It states, that , when a retiree reaches age 65, if for any reason Central States can not fulfill part or all of their portion of the retirement UPS will make up the difference. I talked to the retirement dept in Atlanta and all I got was that the language is still in force about UPS making up the reduction for retirees who retired after Jan 1,2008 but UPS is not making any statements as to what they will do until they see what Central states does. So , until we get any more info, it's a waiting game with a lot of speculations as usual.

In the end they will both figure out a way to screw us.

 

[WhatsUP]

What amount of cut is expected for those who retired before 2008

 

[WhatsUP]

That's messed up to have worked for one of the wealthiest company in America and have to take any
Cuts. I guess the Teamsters were not watching out for those who retired prior to 1998.

 

[Mugarolla]

That's messed up to have worked for one of the wealthiest company in America and have to take any
Cuts. I guess the Teamsters were not watching out for those who retired prior to 1998.

The Teamsters weren't watching out for anybody. The Teamsters endorse the cuts.

The only reason anyone that retired after 2008 won't receive any cuts is that UPS got Congress to give them basically an exemption.

And the only reason UPS wanted this exemption is that they have to make up any cuts by Central States to any employee retired after 2008.

If it was not in the contract for UPS to make up for any cuts, they would not have gone to Congress looking for this exemption.

UPS, like the Teamsters, really doesn't care about retirees taking cuts. They just didn't want to have to pay.

I don't blame them. They fulfilled 100% of their CS pension liability. Let the retirees from companies that still owe CS money be the first ones in line for the cuts.

Look at YRC. They are paying hardly anything into the pension fund right now, and extending through 2019, I think.

Why should they enjoy a full pension when their employer is not paying their fair share.

If the money is there, pay them their full pension. If the money is not there, they should be the first ones to take a cut.

 

[WhatsUP]

I think that UPS is still subject to having to make up for cuts if Central States implement them. That's for those who retired after 2007... But UPS will be last in line to take the cuts in Central States. Still don't know if the ones who retired before 2008 will also be last in line to take a cut since UPS paid their obligations before they left the fund.

 

[BigUnionGuy]

The Teamsters weren't watching out for anybody.

Ron Carey sure didn't.

UPS, really doesn't care about retirees taking cuts.

Hey.... we can laugh at the management people.

How much, are they paying for Health Care ?

It keeps going up.

Let the retirees from companies that still owe CS money be the first ones in line for the cuts.

The orphans, are the first in line.

Look at YRC. They are paying hardly anything into the pension fund right now

25 %.

It takes them 4 years.... for 1 year vested credit.

Why should they enjoy a full pension when their employer is not paying their fair share.

If the money is there, pay them their full pension. If the money is not there, they should be the first ones to take a cut.

Here is a bit of advice....


Don't go wander a YRC freight dock, spewing those sort of "thoughts".

You will be the least popular person there.



-Bug-

 

[hellfire]

Ron Carey sure didn't.



Hey.... we can laugh at the management people.

How much, are they paying for Health Care ?

It keeps going up.



The orphans, are the first in line.



25 %.

It takes them 4 years.... for 1 year vested credit.





Here is a bit of advice....


Don't go wander a YRC freight dock, spewing those sort of "thoughts".

You will be the least popular person there.



-Bug-

I call bs

 

[Mugarolla]

Ron Carey sure didn't.

-Bug-

Didn't say he did.

Hey.... we can laugh at the management people.

How much, are they paying for Health Care ?

It keeps going up.


-Bug-

Yes, we can.

Orphans, are the first in line.

-Bug-

Yes, they are. But they are not last in line.

25 %.

It takes them 4 years.... for 1 year vested credit.


-Bug-

Pre 2010 retirees did not take a pension cut.

Those age 55 before 2009 with 25 years of service can retire at 62 without cuts.

Those that retire at 65 receive no cuts.

So basically, they just eliminated 25 or 30 and out.

Here is a bit of advice....

Don't go wander a YRC freight dock, spewing those sort of "thoughts".

You will be the least popular person there.

-Bug-

Sorry if the truth hurts.

I realized they had to do this to try and save their jobs. Others are paying for their sacrifice.

I don't "snowball" anyone. I tell it the way it is, like it or not.


-Mug-

 

[clean hairy]

Good point..My time is worth more to me than any bank statement figures...I want to die Broke...Bust my tail all them years and then just look at a set of numbers and pinching pennies is not my style....Like you I am enjoying my retirement with all the Time to myself.....

Only way to die broke is to know the date you will die.
Don't know anyone who knows what the exact date will be.

 

[wkmac]

To all the young UPSers out there, even though most of you will not be impacted by the situation at CS, take this event to heart and plan for your retirement years using many baskets. Nothing is ever a sure bet and right now that retirement may seem almost an impossible amount of time away but it comes oh so much quicker than you realize. Plan accordingly for that day.

I made a decision a very long time ago when UPS first offered the 401k to avail myself of it and I choose a kind of tortoise approach rather than the hare. Today with just a couple of years left, should the unthinkable happen to our UPS retirement or even to UPS, my 401k can all but replace the amount of my retirement dollar for dollar. And I've got a 3rd option should the 401k suffer.

Use this time to observe what it happening to so many good people who thought things would stay the same but face a possible reality that things don't. Learn from our mistakes and make efforts not to repeat them. It starts out small and it seems like it never grows but then one day it becomes a nice hefty amount and then it's amazing how much it leaps in value as a result of it's size and scale.

Best wishes to you.

 

[The Milkman]

Only way to die broke is to know the date you will die.
Don't know anyone who knows what the exact date will be.

I could care less when the date will be as I know it comes for everyone..Lets see...Scenerio #1, I live to 90 with 2 million in the bank...Wow! Can't walk, see, hear and need a pee bag by my wheelchair. Boy I am sure glad I have 2 Million in the bank, problem is as you know...how can I enjoy it now in my physical condition? Scenerio # 2, With that said I left at 55, bought an RV have traveled all over the states and 2 times to Alaska. looking back I feel this was the best decision I could of made. Now at 63 I do feel some more aches and pains and wonder if I was in my 70's or even 80's (If I live that long) if I would even have the energy to do what I have done these last 8 years. Seeing many die recently in their 50's and one good Ups friend who died 1 month short before his retirement, in his mid 50's from a heart attack I stand by my decision to enjoy life while somewhat healthy. And if I do live to 90...I will never starve, But there will be just less for others to spend that I worked for all my life . My wife and myself just want to spend the fruits of my labor,of which she is entitled to, for dealing with my job and the many hours away from home and the daily stress placed on us....Nuff Said

 

[BigUnionGuy]

Sorry if the truth hurts.

The UPS sense of entitlement, always comes shining through.


Thats why, no one considers UPS people.... "real" Teamsters.

-Mug-

Hey man....

You're mug'n my Bug.



-Bug-

 

[ZQXC]

Only way to die broke is to know the date you will die.
Don't know anyone who knows what the exact date will be.

Instead of when, I want to know the place where I will die.

 

[IVE GOTTA PACKAGE 4U]

Instead of when, I want to know the place where I will die.

Hopefully not in a brown truck.

 

[ZQXC]

Hopefully not in a brown truck.

Ask me why, slant head.

 

[IVE GOTTA PACKAGE 4U]

Ask me why, slant head.

Good evening Ray.

Why?

 

[ZQXC]

Good evening Ray.

Why?

I won't ever go there!

 

[Mugarolla]

The UPS sense of entitlement, always comes shining through.


Thats why, no one considers UPS people.... "real" Teamsters.





Hey man....

You're mug'n my Bug.



-Bug-

It's not a sense of entitlement. Any company in CS who has paid their liability should be the last ones cut.

UPS is not the only company that has. UPS retirees should not be the only ones receiving little, if any cuts.

The cuts should come from retirees whose company never met their full pension obligation.

It would be like asking you to take a pay cut and send that money to a local that is financially strapped.

Your local did it's fudiciary responsibility, so why should you take a cut because some other local did not.

Why should we, and not just UPS, take a cut just because half the companies in CS went bankrupt?

The first, and steepest cuts, should be from these defunct company retirees.

I know, it is. But how much? I see them "spreading the wealth."

And then if more cuts are needed, come see the companies that don't owe CS billions.

And yes, I'm mugin' your bugin'

 

[IVE GOTTA PACKAGE 4U]

I won't ever go there!

DONT blame you.! That's why i sold my dad's house instead of renting it out.

 

[BigUnionGuy]

It's not a sense of entitlement.

The operative term.... is called denial.

Any company in CS who has paid their liability should be the last ones cut. UPS is not the only company that has.

Who else has ??

The cuts should come from retirees whose company never met their full pension obligation.

The orphans, are the first in line.

Didn't we already agree on that ?

Why should we....

There you go, with that UPS crap again.

Unless.... you have someone else in mind.

The first, and steepest cuts, should be from these defunct company retirees.

I know, it is. But how much? I see them "spreading the wealth."

And then if more cuts are needed, come see the companies that don't owe CS billions.

I am starting to think.... you don't have a clue.

And yes, I'm mugin' your bugin'

Well... OK.


Everybody, wishes they could be me.

You are now moved to the top of the list.



-Bug-