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UPS Union Issues
My Notice of Teamster/ UPS Pension being gutted has arrived
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<blockquote data-quote="stephenopolus" data-source="post: 841744" data-attributes="member: 35074"><p>See my reply to the post on the UPS pension plan being "completely separate" from the teamster pension. </p><p></p><p>The plan reps told me, those of us who have vesting in all three will at age 65 receive 3 separate checks. If you retire before then the UPS/Teamster plan will pay the entire amount until age 65. Then your check from the UPS/Teamster plan will be reduced by the same amount you receive from the other plans. </p><p></p><p>So, yes we are still part of central states even if UPS no longer contributes to it on our behalf. However, that only is for those who have been here long enough to have been vested in it. New people will not have the headache of keeping up with all that crap. </p><p></p><p>As explained to me, the only excaption to this is if the UPS/Teamster plan requests that your vesting be transferred to their plan and Central States grants the transfer. However, they are only likely to do that if you have very little vesting. The rep I spoke with said they "might" do it for me since I was only in central states for 2 years but she could not guarantee it.</p></blockquote><p></p>
[QUOTE="stephenopolus, post: 841744, member: 35074"] See my reply to the post on the UPS pension plan being "completely separate" from the teamster pension. The plan reps told me, those of us who have vesting in all three will at age 65 receive 3 separate checks. If you retire before then the UPS/Teamster plan will pay the entire amount until age 65. Then your check from the UPS/Teamster plan will be reduced by the same amount you receive from the other plans. So, yes we are still part of central states even if UPS no longer contributes to it on our behalf. However, that only is for those who have been here long enough to have been vested in it. New people will not have the headache of keeping up with all that crap. As explained to me, the only excaption to this is if the UPS/Teamster plan requests that your vesting be transferred to their plan and Central States grants the transfer. However, they are only likely to do that if you have very little vesting. The rep I spoke with said they "might" do it for me since I was only in central states for 2 years but she could not guarantee it. [/QUOTE]
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My Notice of Teamster/ UPS Pension being gutted has arrived
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