Pension increase

Discussion in 'UPS Union Issues' started by Yakatak, Jun 6, 2014.

  1. Yakatak

    Yakatak New Member

    Does anyone know when the increased pension will be implemented?
    I retired Feb 1 '14, have been notified TeamCare took effect June 1 with the enhanced Dental and Vision, but no mention of the pension.
  2. oldngray

    oldngray nowhere special

    They have an interesting definition of "enhanced".
  3. UpstateNYUPSer

    UpstateNYUPSer Very proud grandfather.

    Team care and the pension are not one in the same.
  4. retiredTxfeeder

    retiredTxfeeder cap'n crunch

    I got a letter in the mail last week stating that due to the newly ratified contract, My pension amount has been increased, but I didn't read the whole thing, the CFO of my family intercepted it. I'm assuming that was what it was about.
  5. The increase is retroactive.
  6. UpstateNYUPSer

    UpstateNYUPSer Very proud grandfather.

    Yes but the two are not related.
  7. Yakatak

    Yakatak New Member

    That's good...but has anyone heard when we will see the increase?
  8. I retired last month and contacted my pension department. They told me they have to recalculate everyone that retired from Aug 1, 2013 to April 24, 2014. They don't know what the time span that would take. They told me my monthly pension will increase a little bit but don't know when it will happen.
  9. burrheadd

    burrheadd Creepy pervert

    August 1

    Sent using BrownCafe App
  10. Wally

    Wally Hailing from Parts Unknown.

    Local 177 got a boost, but we put half of our raise back into the fund. Maybe someone knows the exact numbers but it is around $4100 a month minus the new health care costs. In reality, when you factor in the new healthcare fees, it is a wash.
  11. flyersfan

    flyersfan New Member

    Speaking of increases,what about our union dues going up?,makes me sick to my stomach!It went up $2,not the normal $1 is usually does when we get our union raise.I guess it'll go up again on Aug 1st when we get another .70.Some guy who's been there for over 25yrs is now paying $70 a month!Remember the days when we all paid $25 a month?Those days are long gone.Many people are :censored2: off about how the contract was suddenly passed,but it's all about the power of money,the customers like Amazon who threatened us many times if the contract wasn't passed.Speaking of the new contract,when will we receive it?They're probably still tweaking it as I speak.
  12. brownmonster

    brownmonster Man of Great Wisdom

    Sick to your stomach over 2 bucks? Have another 5 dollars coffee.
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  13. Inthegame

    Inthegame Well-Known Member

    Would you prefer to forego the $.70 per hour and save the $2 per month? Never paid much attention in those math classes I'm guessing...
  14. brownmonster

    brownmonster Man of Great Wisdom

    My dues are 82 bucks a month. I consider it money well spent.
  15. UpstateNYUPSer

    UpstateNYUPSer Very proud grandfather.

    Ours are closer to $95. I consider it a nice tax write-off.
  16. sven

    sven New Member

    The problem with the Local 177 pension fund is that were in a multi-employer fund with locals NOT associated with UPS and in some cases are no longer functioning. Meaning that before the "multi-pension plan" we were fully funded. Now its underfunded as those locals collecting pensions no longer are active. Its a very gray area, and I hate to agree with the company, its a mistake to have our pension contributions going to locals not associated with us.
  17. The Milkman

    The Milkman Well-Known Member

    Exactly what I was trying to tell my old co workers , awash when you need the increase to cover your new improved medical plan costs which are more than likely going to increase next great contract
  18. rod

    rod retired and happy

    My dues when I first started were around 6 bucks. (so far I have received $468,000 back in pension).
  19. My dues are $75, and I'm part time, man up.

    File early, file often.