No mention of 25 and out Pension Pay in the teleconference

Discussion in 'UPS Union Issues' started by 1whofan, Aug 11, 2018.

  1. 1whofan

    1whofan Member

    When the question was asked about the pension the union negotiator went through all the scenarios for P/ts and F/ts, except the 25 and out at any age for F/ts. I wonder why oh that's right because your actually losing money. Just a reminder
    25 and out at any age $2,000
    25 and out at 57 is 2,500. Been that way for a while now hasn't it?
     
  2. bowhnterdon

    bowhnterdon Active Member

    25 and out at any age is not financially reasonable. It certainly hurt our fund...
     
  3. brown_trousers

    brown_trousers Well-Known Member

    Yes! 25 and out is a stupid idea that is financially irresponsible.

    Have we learned nothing from all the failed pension funds in america?
     
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  4. Tony Q

    Tony Q Well-Known Member

    It stayed the same, so I guess you will be staying around a little while longer. Glad to have you.
     
  5. 1whofan

    1whofan Member

    But having drivers due peak volume throughout the year is okay, lets burn the drivers out to get new blood in, if this contract passes there will be a $1800 dollar difference between 25 and 30 and only $400 between 30 and 35. UPS is making record profits which due to e commerce will only continue to grow. This is not an office job those of you that waited for an f/t position and got it in your late 20's or early 30's should have to bust your ass for 30 years!!!
     
  6. brown_trousers

    brown_trousers Well-Known Member

    Does the 25, 30, and 35 not include your time spent as a part-timer?
     
  7. 1whofan

    1whofan Member

    Yes minimum $2,000 at 25 and out at any age
    $3,800 at 30 and out at any age
    $4,300 at 35 and out at any age
    Plus your p/t years of service
     
  8. DR7

    DR7 Member

    No. That is all referring to full time years. Part time is different.
     
  9. TearsInRain

    TearsInRain IE boogeyman

    my favorite part was how he dodged the 22.4 question completely
     
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  10. You also need to shoulder some of the responsibility. Such as saving in a 401k ot an IRA
     
  11. 1whofan

    1whofan Member

    Yes your right to reach the 25 and out or any of the others I mentioned it has to be F/t years of service.
     
  12. jagger john

    jagger john Member

    the funds are under funded by ups and this new contract ups spending billions and giving us contributions from 1980 and our :censored2: union leaders dont care
     
  13. Ms.PacMan

    Ms.PacMan Well-Known Member

    There is an exception. If you have 25 full time years and 5 or more part time years the pension pays out $2500 for the 25 yrs regardless of age. I'm not sure why but if you hit the magic 30 years of service with your company seniority it bumps up the 25 and out.
     
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  14. noazrk

    noazrk Union Steward

    It's my understanding that when you go from P.T. to F.T. your seniority gets folded in half. I'm a 10 year part-timer, if I go driving or win a combo bid I would lose a vacation week and would be considered a 5 year full-timer towards the pension. I also believe our pension in Arizona is Peer 84? I think that means I have to hit the combination of age + years of service equaling 84 to get retirement benefits.

    According to my P.T. pension statements working more hours does significantly increase my pension though, regardless of what the 25,30,35 year caps are.

    My first few years the statements said my earnings increased my annual pension benefit by appx. $1000. Last year I worked enough hours that my statement claims my annual benefit increased by over $2100.

    Does that mean I could exceed the P.T. 25 year limit since I'm really working F.T. hours as a P.T. worker? It must or at some point regardless of how many hours I work my contributions won't increase my annual benefit. Hmmmmmm.....now I have something else to research ha ha!
     
  15. GameCockFan

    GameCockFan Active Member

    No it doesn't. Your part-time years will count, but lower the amount you receive as part-time years increase. This is true for the old central states/new IBT/UPS pension
     
  16. BrownRecycler

    BrownRecycler Member

    Good question.
     
  17. 1whofan

    1whofan Member

    Yes it does I'll use myself as an example I've got 31 years in 26 f/t and 5 P/t I am in my early 50s if I were to retire at the end of the year I would get around $2400, $2000 for reaching 25 years plus an extra for 1 year of F/t and my P/t years. But if I go another 4 years, 30 F/t and my 5 P/t it goes to a little over $4,000. That disparity should alarm anyone with few F/t years.
     
  18. Time for change

    Time for change Active Member

    No two separate pensions and if you don’t have 5 part time, it’s wasted years as far as pension. Possibly different locally?
     
  19. 1989

    1989 Well-Known Member

    Arizona does not have a 25, 30, 35 and out. Only PEER 84 for part times PEER 80 for full timers.
     
  20. 1whofan

    1whofan Member

    Yes two separate checks one for f/t and one for P/t (central states) but the disparity remains the same (25 and 30).