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Brown Cafe UPS Forum
UPS Union Issues
Pension changes?
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<blockquote data-quote="DELACROIX" data-source="post: 5788577" data-attributes="member: 49065"><p>Nothing is impossible, they did it to their own management. Those pension contributions and obligations have been on the Company's radar since the 1993 Contract. It really depends on how the economy stands with the next Contract. I did not expect miracles with the new O'Brien team with this current Contract, basically supplemental language remained the same even with the good deal with our hourly rates. </p><p></p><p>As far as the Union not allowing it..again depends on the development of our economy and increasing Union support from both the Public and Washington (DOL) etc... I just put the warning out there for those considering retiring before 2028, it would be smart to start living within your means over the next 4 years and start investing those early and late hourly increases in other avenues (401K) besides your pension plan.</p><p></p><p>Legal entanglements were eliminated when they decided to end their management's plan, their legal department is well stocked with the best attorneys out there. Frankly they are playing the system and the know every loophole in the ERISA laws, again most of the Companies are eliminating pension plans and replacing them with 401K's, UPS will just follow suit.</p><p></p><p>Another factor is the "union", sometimes we make the mistake thinking that our leadership will have the final say in our Contract negotiations...It comes down to our membership and how much backbone they will display in order to prevent a wrong...</p></blockquote><p></p>
[QUOTE="DELACROIX, post: 5788577, member: 49065"] Nothing is impossible, they did it to their own management. Those pension contributions and obligations have been on the Company's radar since the 1993 Contract. It really depends on how the economy stands with the next Contract. I did not expect miracles with the new O'Brien team with this current Contract, basically supplemental language remained the same even with the good deal with our hourly rates. As far as the Union not allowing it..again depends on the development of our economy and increasing Union support from both the Public and Washington (DOL) etc... I just put the warning out there for those considering retiring before 2028, it would be smart to start living within your means over the next 4 years and start investing those early and late hourly increases in other avenues (401K) besides your pension plan. Legal entanglements were eliminated when they decided to end their management's plan, their legal department is well stocked with the best attorneys out there. Frankly they are playing the system and the know every loophole in the ERISA laws, again most of the Companies are eliminating pension plans and replacing them with 401K's, UPS will just follow suit. Another factor is the "union", sometimes we make the mistake thinking that our leadership will have the final say in our Contract negotiations...It comes down to our membership and how much backbone they will display in order to prevent a wrong... [/QUOTE]
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