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Brown Cafe UPS Forum
UPS Union Issues
Part-timers deserve better.
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<blockquote data-quote="DELACROIX" data-source="post: 3644906" data-attributes="member: 49065"><p>Your diversity is one of the reasons your fund is so strong, another is that you had every member participating in that pension trust. One of the reasons for the Central States underfunding is that all those part time positions created over the many decades were never contributing, they were always under control of the company. They were paying peanuts to cover these part time employees, pennies to the dollars compared to the full timers in the Central. </p><p></p><p>What the heck the Union was collecting full union dues from the ones who started part time in the 70's, 80's and 90's, why not collect twice the amount for a full time position. I believe during the l993 contract they actually tried to negotiate these part timers into the Central States plan, it did not happen.</p><p></p><p>The company offer to take over the pension benefits back in l997 forced the trustees of that plan to raise it accordingly causing more financial stress on the fund. With many of the freight divisions declaring bankruptcy and getting off the hook for their projected payments and the inability of the Teamsters to recruit new participants into the trust it basically destroyed any hope of getting that fund to the proper funding limits. Nothing short of a miracle will save it from default and UPS is still liable for any reduction caused by it's underfunding. Hence the reason that our retirement benefits are inferior to the West.</p></blockquote><p></p>
[QUOTE="DELACROIX, post: 3644906, member: 49065"] Your diversity is one of the reasons your fund is so strong, another is that you had every member participating in that pension trust. One of the reasons for the Central States underfunding is that all those part time positions created over the many decades were never contributing, they were always under control of the company. They were paying peanuts to cover these part time employees, pennies to the dollars compared to the full timers in the Central. What the heck the Union was collecting full union dues from the ones who started part time in the 70's, 80's and 90's, why not collect twice the amount for a full time position. I believe during the l993 contract they actually tried to negotiate these part timers into the Central States plan, it did not happen. The company offer to take over the pension benefits back in l997 forced the trustees of that plan to raise it accordingly causing more financial stress on the fund. With many of the freight divisions declaring bankruptcy and getting off the hook for their projected payments and the inability of the Teamsters to recruit new participants into the trust it basically destroyed any hope of getting that fund to the proper funding limits. Nothing short of a miracle will save it from default and UPS is still liable for any reduction caused by it's underfunding. Hence the reason that our retirement benefits are inferior to the West. [/QUOTE]
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Part-timers deserve better.
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