One Dinosaur talking to another..the days of the career part timer were over a long time ago. I do remember that during the “93” negotiations Carey was trying to negotiate the Central and Southern part timers pension into the Central. I still have a flyer from that time that stated that only less than 50 part timers were collecting from the Company controlled pension plan and being paid peanuts. That part time pension plan was created around 1973, at that time you did not collect any vesting credit if you were under 25 years old. Almost all the part timers from 1970’s to 2000 were college students and under 25 or even 21. You can remember how management chased us off the clock before our 3.5 hour guarantee, they were thinking 40 years ahead by promising a pension that paid practically nothing compared to the full timers even if you stayed past 25 years.
These part timers that left were expecting something for those service years only to find out they had to wait till 65 to collect if they were lucky enough to have 5 or 10 years vested.
Throw into that equation the 6 % penalty for every year prior to age 65 if you wanted to collect earlier.
I have a 1993 print out of the UPS Pension for the part timers and one for the UPS Retirement Plan for management. About the same amount of active participates, the only differences would of been the amount of annual monetary contributions going into those two plans...and the percentage of those retired and collecting a benefit.