Pension account dollar amounts

Discussion in 'UPS Union Issues' started by MC4YOU2, May 2, 2014.

  1. MC4YOU2

    MC4YOU2 Wherever I see Trump, it smells like he's Putin.

    Ok, so now the raise has officially kicked in and we are waiting for retro checks and pension increases, I am curious to know if anyone has ever seen their own pension account balance in actual dollar amounts? I have gotten regular reports from NWADMIN, which administers the pension plan in the west for many years now, but they are always formatted to show benefit estimates, beneficiaries etc. Never have I seen a report with my actual deposits from UPS and earnings from investments. Even more important now to know if UPS is going to make the new payment amounts AND the retro pension deposits. So...has anyone ever seen their pension $$ account balance/deposits, and how difficult will it be to verify that we are all being credited with the new pension increases?
  2. Wally

    Wally Hailing from Parts Unknown.

    I don't think they break it down like that.
  3. UpstateNYUPSer

    UpstateNYUPSer Very proud grandfather.

    My latest pension statement has me at just over $57K annually.

    There are no individual pension account balances.
  4. MC4YOU2

    MC4YOU2 Wherever I see Trump, it smells like he's Putin.

    Sure seems like they should be able to verify that you were given the contributions you were entitled to. Especially in a situation where we are entitled to retro contributions. Easy to do or not do on the companies part. Waiting 6 weeks to send retro pay checks out is telling that UPS is enjoying the profits from holding those payments an extra month. There has been no date set so far for bringing pension accounts current. Seems fishy.
  5. Ouch

    Ouch Well-Known Member

    I just got off the phone with the union hall. If i drew it at 57 i would get 226 a month. If i wait till I'm 67 i will get 2375.00 a month. You can call and get your pension payout from your local.
  6. preload1

    preload1 Member

    Good question. But I bet you will see your business agent driving a brand new Crown Vic.
  7. MC4YOU2

    MC4YOU2 Wherever I see Trump, it smells like he's Putin.

    I've been following my estimated payout for 25 years, but what I'm curious about is what's being paid in.Is it the correct amount? I get an annual accounting of hours that are credited to my retirement. They cap off at 2080. Our hourly benefit has changed over the years, like our hourly pay rate has. So I'm wanting to know if anyone has ever seen their actual amounts credited and if we can verify if and when UPS kicks in the increase for this year with retro. So far no one has. That seems troubling somewhat.
  8. MC4YOU2

    MC4YOU2 Wherever I see Trump, it smells like he's Putin.

    Not here. Ours is managed by a third party. Northwest Administrators. The Local is not directly involved.
  9. Coldworld

    Coldworld Taking it all back.....

    The nice thing about the west coast pension is all part time years count towards your 80 and out. If you had lots of double shifting and air driving when part time then you received even larger contributions toward the pension.
  10. Inthegame

    Inthegame Well-Known Member

    If you're inferring an illegal shifting of money, which is exactly what you are inferring, at least get the fairytale right and put the BA's in better cars than Crown Vics.
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  11. oldngray

    oldngray nowhere special

    Our BA's all drive shiny new Crown Vics. I guess they thought Caddys would have been a little over the top. A couple do have Town Cars though (mostly the ones too large to fit comfortable in a Crown Vic).
  12. Yeah like a Bugatti
  13. Who drives a freakin crown Vic anymore?
  14. Inthegame

    Inthegame Well-Known Member

  15. realbrown1

    realbrown1 Annoy a liberal today. Hit them with facts.

    You will never get a dollar amount on these types of accounts. Defined BENEFIT plans will only give you numbers on your monthly pension and survivor benefits or pay offs.

    And if you did, it wouldn't be accurate.

    The WCW Pension is currently funded at 91.5%. So that's not bad.

    If you want a number, you could do what I have done. Go back on all your pension yearly statements and add up all the contributions to your pension.

    After 25 plus years, as of Dec 31, 2012 (last statement) I have over $175k invested for me.
  16. Gumby

    Gumby *

    Our pension fund Is 47% funded. Part of our raise has to go into the pension fund. Im real happy that hoffa and hall didnt give us any chance of fixing it this contract! Thankyou for not letting me vote and declaring and impasse!
  17. oldngray

    oldngray nowhere special

    I just got statements in the mail today. I'm in Central States and the UPS pension plan (for my part time years) is 91.79% funded. The UPS/IBT Full Time Pension Plan is 105.45% funded.
  18. Ouch

    Ouch Well-Known Member

    You should be able to get that info from the union. You should be able to request a printout of what is paid in to your account.
  19. JM_UPS2005

    JM_UPS2005 Member

    How do you start a pension plan? I've been part time for 9 years and never thought about the future or had the knowledge of how to do it.

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  20. UpstateNYUPSer

    UpstateNYUPSer Very proud grandfather.

    You don't start anything----the union takes care of this for you.