No increase for accrual pensions

[ski or die]

$5 over 10 year is pitiful

You are correct. The $5 over 10 years will not even begin to address the pension funding crisis. And many employees are concerned about higher payouts for 25 years and out. With the company contributions, all plans will be in even worse shape in 5 years. I believe it is the company's plan of to weaken the pension so they can take it over in 5 years with false promises. Example: Management's pension.

 

[upschuck]

You are correct. The $5 over 10 years will not even begin to address the pension funding crisis. And many employees are concerned about higher payouts for 25 years and out. With the company contributions, all plans will be in even worse shape in 5 years. I believe it is the company's plan of to weaken the pension so they can take it over in 5 years with false promises. Example: Management's pension.

That is how much we get, not what is put in

 

[35years]

Looks like you're mixing mathematical metaphors...

The future service credit model UPS uses was never inflation adjusted. The terms are negotiated.

It would be highly unusual to set accrual rates that pay out far into the future on a past yearly inflation rate.

If you do the mathematical exercise (add the yearly inflation rate of each successive year to the base rate of $132), you'll see that had the accrual been pegged to inflation for the period 2008-2017 (as you apparently wish), the rate would now be at $155, not $175.

Inflation over that period averaged 1.69%.

I used the federal government's inflation figures. Essentially we received good increases until 2013. 2013-2018 we didn't even keep pace with moderate inflation. The proposal for 2018 forward is a huge give back considering inflation is currently 2.9 percent and rising.

Yes increases are negotiated, but comparing them to current inflation rates is useful to gauge how fair the offer is. Zero increase over 5 years is an insult.

 

[Coldworld]

Lots of people get nothing for annual raises.

I don't like the contract but I always manage to live on less than what I make

Honestly I would love to see a small 401k to encourage people to save on their own.

We have a 401k to put money into.... put in 3 % to start until you can move the percentage higher... you can bring a horse to water but.... you know the rest...

 

[IVE GOTTA PACKAGE 4U]

We have a 401k to put money into.... put in 3 % to start until you can move the percentage higher... you can bring a horse to water but.... you know the rest...

Everything is going to get handed to you. You have to take responsibility for yourself

 

[Coldworld]

What good is the 401k if UPS refuses to match not even a penny. I think they need to go back and retro-match every dollar for the past 15 years. The greed of this company is so far off the scale that nobody can even get a grip on the situation.

I agree... I would like to see something matched by the company but that’s not going to happen unless they take some out of our pension contributions and put it into the 401k....

 

[Coldworld]

Everything is going to get handed to you. You have to take responsibility for yourself

You know how much you would have if all of your pension monies over your career went into a 401k instead...on top of what you put into it personally ... it’s staggering to think about really

 

[Coldworld]

Everything is going to get handed to you. You have to take responsibility for yourself

Thought the company was automatically starting 401k’s for new employees now days???

 

[IVE GOTTA PACKAGE 4U]

You know how much you would have if all of your pension monies over your career went into a 401k instead...on top of what you put into it personally ... it’s staggering to think about really

It would be a ton.

 

[IVE GOTTA PACKAGE 4U]

Thought the company was automatically starting 401k’s for new employees now days???

They do but you can opt out

 

[Frankie's Friend]

You know how much you would have if all of your pension monies over your career went into a 401k instead...on top of what you put into it personally ... it’s staggering to think about really

We would own the Aladdin Hotel.