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UPS Partners
"Pay Mix" update...
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<blockquote data-quote="DELACROIX" data-source="post: 5447168" data-attributes="member: 49065"><p>So...Once they get rid of your MIP...You will be given a good raise..Then you will be given an option to contribute to a matched 401K in lieu of any future pension credits. </p><p></p><p>The elimination of the management's pension vesting does have a connection to the 2023 Contract, the timetable is obvious. I believe that the Company is trying to get rid of ALL their defined pension obligations, the UPS Pension Plan for the Part Timers is next. They can transfer funds and pension credits into the IBT/UPS pension plan for every full timer that had credit as a part timer, right now it pays peanuts. The current part timers will be able to contribute to a (portable) matched 401K and still retain any previous pension credits if they are vested. </p><p></p><p>It would be very similar to the Western..those part time years are automatically transferred into their full time years for vesting and benefits, you get one pension check instead of two or three paid from the same trust. Every participant under the IBT/UPS pension plan will benefit if that happens.</p></blockquote><p></p>
[QUOTE="DELACROIX, post: 5447168, member: 49065"] So...Once they get rid of your MIP...You will be given a good raise..Then you will be given an option to contribute to a matched 401K in lieu of any future pension credits. The elimination of the management's pension vesting does have a connection to the 2023 Contract, the timetable is obvious. I believe that the Company is trying to get rid of ALL their defined pension obligations, the UPS Pension Plan for the Part Timers is next. They can transfer funds and pension credits into the IBT/UPS pension plan for every full timer that had credit as a part timer, right now it pays peanuts. The current part timers will be able to contribute to a (portable) matched 401K and still retain any previous pension credits if they are vested. It would be very similar to the Western..those part time years are automatically transferred into their full time years for vesting and benefits, you get one pension check instead of two or three paid from the same trust. Every participant under the IBT/UPS pension plan will benefit if that happens. [/QUOTE]
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"Pay Mix" update...
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