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UPS Partners
New retirement vacation policy
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<blockquote data-quote="brownIEman" data-source="post: 3898364" data-attributes="member: 14596"><p>Payouts would not have been set by the company. They would have been negotiated between the company and IBT. The company could not have changed then arbitrarily.</p><p></p><p>The company wanted to pay to get out of the multi employer plans and set a company only plan for UPSERS only. Think about that, only one company, UPS, would be paying into that plan. "All that money" you didn't want to see UPS get there hands on would have been UPS' own money paid into the plan per the offered contract. The teamsters sold you on the propaganda that UPS was making a greatg money grab at it's own money.</p><p></p><p>Ironically, I just spoke to a buddy who was part of the border line management pensioners. He left the company in 08 with 15 years. They offered him a buy out of the pension he'd be eligible for in about 17 years a year or so back. He did the math and determined they would have to offer him into 6 figures so he could invest it in that time to make it worth while. They offered him just exactly what his math showed so he took it.</p><p>Yes, they are phasing out management pensions, but they are taking care of the pensioners on the way out. How's the IBT doing with the CS pensioners as that fund implodes?</p></blockquote><p></p>
[QUOTE="brownIEman, post: 3898364, member: 14596"] Payouts would not have been set by the company. They would have been negotiated between the company and IBT. The company could not have changed then arbitrarily. The company wanted to pay to get out of the multi employer plans and set a company only plan for UPSERS only. Think about that, only one company, UPS, would be paying into that plan. "All that money" you didn't want to see UPS get there hands on would have been UPS' own money paid into the plan per the offered contract. The teamsters sold you on the propaganda that UPS was making a greatg money grab at it's own money. Ironically, I just spoke to a buddy who was part of the border line management pensioners. He left the company in 08 with 15 years. They offered him a buy out of the pension he'd be eligible for in about 17 years a year or so back. He did the math and determined they would have to offer him into 6 figures so he could invest it in that time to make it worth while. They offered him just exactly what his math showed so he took it. Yes, they are phasing out management pensions, but they are taking care of the pensioners on the way out. How's the IBT doing with the CS pensioners as that fund implodes? [/QUOTE]
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