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Brown Cafe UPS Forum
UPS Retirement Topics
Pension cuts?
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<blockquote data-quote="beentheredonethat" data-source="post: 83678" data-attributes="member: 4886"><p>There are different plans out there and I know of only the one in my area which is New England. In our area, the contract calls for UPS to pay a set dollar amount for each hour paid to a Teamster up to the 40 hr/wk max. This includes paying while the person is paid for a period of time on disability, comp and Military Leave, as well as paid sick days, vacation days etc. We also pay into the teamster pension fund for all the PT teamsters. The PT'ers who work the Local sort and preload and hub who by and large work for UPS for a couple of years and then leave never get vested and all that money never is earmarked for that teamster. It goes to the general fund. If the 97 contract had passed and UPS had control of the pension, I'd be willing to bet that the UPS teamsters would be in a heck of a lot better shape. Although, it probably would have seriously affected non UPS teamsters even more then they are currently being affected. Also, as far as Wily old Vet, I do know that the HW portion of the pension has already been reduced for Mgmt regardless of when we retire early or not. It didn't hurt the guys who already retired too much, but it will have a serious affect on Mgmt who still have a way to go. Also, I'm not positive about it, but I believe the pension for new mgmt also has been seriously curtailed. I do agree with you that it sucks to have the rules changed after you have already retired. But, again my point is that if you were to place blame on this, the vast vast vast majority of it should fall on the teamsters.</p></blockquote><p></p>
[QUOTE="beentheredonethat, post: 83678, member: 4886"] There are different plans out there and I know of only the one in my area which is New England. In our area, the contract calls for UPS to pay a set dollar amount for each hour paid to a Teamster up to the 40 hr/wk max. This includes paying while the person is paid for a period of time on disability, comp and Military Leave, as well as paid sick days, vacation days etc. We also pay into the teamster pension fund for all the PT teamsters. The PT'ers who work the Local sort and preload and hub who by and large work for UPS for a couple of years and then leave never get vested and all that money never is earmarked for that teamster. It goes to the general fund. If the 97 contract had passed and UPS had control of the pension, I'd be willing to bet that the UPS teamsters would be in a heck of a lot better shape. Although, it probably would have seriously affected non UPS teamsters even more then they are currently being affected. Also, as far as Wily old Vet, I do know that the HW portion of the pension has already been reduced for Mgmt regardless of when we retire early or not. It didn't hurt the guys who already retired too much, but it will have a serious affect on Mgmt who still have a way to go. Also, I'm not positive about it, but I believe the pension for new mgmt also has been seriously curtailed. I do agree with you that it sucks to have the rules changed after you have already retired. But, again my point is that if you were to place blame on this, the vast vast vast majority of it should fall on the teamsters. [/QUOTE]
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