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<blockquote data-quote="Bagels" data-source="post: 1125509" data-attributes="member: 43436"><p>-It's unlikely we'll ever see a 401K match alongside pension contributions. Almost undoubtedly, UPS will propose such move in the near future -- e.g. transitioning new hires toward a 401K plan, implementing a limited 401K match in lieu of increasing pension contributions -- but there's no doubt the union will fight the move. </p><p></p><p>-We already receive significantly more paid time off than most other workers. Additional paid time off comes at a high cost (direct wages + increased staffing) and it's much cheaper for UPS to toss a few coins in our direction. Given most Teamsters are more concerned with direct pay, benefits & pension contributions, I doubt this will ever happen in our careers.</p><p></p><p>-Thrift plans are for government employees, so I assume you're referring to a cafeteria-style benefits plan. Some employee groups, including the PTers in company-controlled plans, have had these implemented to some extent. In terms of being able to select a level of health coverage & receiving cash payments for inferior plans, this will never happen. UPS desperately needs the low-cost 19-year-olds to subsidize the insurance costs of the high-risk 55-year-olds. If anything, there will come a time in which a no (or low) cost HMO is the "standard" option and we can buy up to a PPO.</p></blockquote><p></p>
[QUOTE="Bagels, post: 1125509, member: 43436"] -It's unlikely we'll ever see a 401K match alongside pension contributions. Almost undoubtedly, UPS will propose such move in the near future -- e.g. transitioning new hires toward a 401K plan, implementing a limited 401K match in lieu of increasing pension contributions -- but there's no doubt the union will fight the move. -We already receive significantly more paid time off than most other workers. Additional paid time off comes at a high cost (direct wages + increased staffing) and it's much cheaper for UPS to toss a few coins in our direction. Given most Teamsters are more concerned with direct pay, benefits & pension contributions, I doubt this will ever happen in our careers. -Thrift plans are for government employees, so I assume you're referring to a cafeteria-style benefits plan. Some employee groups, including the PTers in company-controlled plans, have had these implemented to some extent. In terms of being able to select a level of health coverage & receiving cash payments for inferior plans, this will never happen. UPS desperately needs the low-cost 19-year-olds to subsidize the insurance costs of the high-risk 55-year-olds. If anything, there will come a time in which a no (or low) cost HMO is the "standard" option and we can buy up to a PPO. [/QUOTE]
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