Pension Credit Rollover

Discussion in 'UPS Discussions' started by Deemster, Jan 28, 2016.

  1. Deemster

    Deemster Member

    Heard news from a art 22 guy in my hub.

    He sais the word is that ups and the union will be rolling part time and full time pension Credits into one.

    Has anyone else heard anything about this? Apparently they are pulling 90 drivers this March to fill the ranks.

    He made mention of a lot of feeders will be on their way out, making a domino effect on our pc drivers.
  2. UpstateNYUPSer

    UpstateNYUPSer Very proud grandfather.

    Are you in a UPS or multi- employer pension plan?
  3. Richard Harrow

    Richard Harrow Deplorable.

    I would be all for it. I only had 3 years PT when I was taken on FT, but I'd gladly take 6 months credit for each of my PT years so I could retire at about 50.
  4. Deemster

    Deemster Member

    From what I understood the part timers are covered under UPS and the full timers are under the unions pension
  5. Gumby

    Gumby *

    Here are part time years count for years of service . I will get two pension checks one from the teamsters and one from UPS
  6. Deemster

    Deemster Member

    Yeah I asked him if this was a nation wide move or if it was just central states.

    His response was "I think it's all of UPS". I'm not so sure it's that easy given all the locals that exist. If this was to get pushed through how would it effect everyone's pension?

    Say I had 5 years PT and another 30 FT would those pt years count as 2.5 FT years? So now our pension Credit boils down to: either a whole years worth or a half years worth based on the total amount of hours worked?

    From what I understand it's a 2 tier system here ft and pt. And as of yet they can't be added together
  7. oldngray

    oldngray nowhere special

    They are added together for your total years of service but PT pension is still a different plan and you will get much less for each of those years than for your full time years. As for years of service a PT year counts the same as a FT year but you will still get less money for the PT years.
  8. Gumby

    Gumby *

    But we don't get our part time pension till age 65.
  9. oldngray

    oldngray nowhere special

    It depends on your local and what type of pension. For years of service your age doesn't matter. I get 2 pension checks every month but only get about $200/month for 8 years of part time credit.
  10. Deemster

    Deemster Member

    So, could I technically max out both pt and ft pension credits. 70 years of service. That's a doozy haha.

    Regardless it seems as if this move will be forcing a lot of hands to retire.

    Seems like ups has figured out the piece of the puzzle to push out top rate labor. Now will the next contract start slashing top rate pay or force longer progression.

    5 years maybe? Enough time to further diminish labor costs. In what ever way they can manage.

    I hope I make book before the next contract
  11. upsdon

    upsdon Cleavon Little

    UAW has 8 years progression.
  12. Brownslave688

    Brownslave688 You want a toe? I can get you a toe.

    Yeah right. A lot of the pensions are in bad shape as it is.