U
UPS Brown Devil
Guest
Can anyone explain why the Mechanics Pension & Annuity Plan is so much better than any Teamster or UPS Management Pkan or Pilot Plan ?......
No clue, but my guess would be is that without the mechanics we would be screwed. No working trucks or planes no money is being made.
Think the short answer would be along the lines of:
--- Teamsters pension plan is hurting because there is more going out then is being brought in due to attrition of trucking company's going out of business over the years. The burden to cover those employee's is basicly put on the Company's that still contribute to the pension fund.
---IAMAW doesn't have the same burden that the teamsters have, plus the fact that AIM has invested the pension funds differently then the teamsters. I read an article somewhere (forget where I seen it anymore) that stated the teamsters were more aggressive(risk) with some of the investments in the stock market that didn't pan out for the better over the years.
---IAMAW I believe hasn't been around as long as the teamsters thus not having the shear numbers drawing from the pensions that the teamsters have.
Probably somebody can get into more detail then I did, but I think I am in the ballpark.
--- Teamsters pension plan is hurting because there is more going out then is being brought in due to attrition of trucking company's going out of business over the years. The burden to cover those employee's is basicly put on the Company's that still contribute to the pension fund.
---IAMAW doesn't have the same burden that the teamsters have, plus the fact that AIM has invested the pension funds differently then the teamsters. I read an article somewhere (forget where I seen it anymore) that stated the teamsters were more aggressive(risk) with some of the investments in the stock market that didn't pan out for the better over the years.
---IAMAW I believe hasn't been around as long as the teamsters thus not having the shear numbers drawing from the pensions that the teamsters have.
Probably somebody can get into more detail then I did, but I think I am in the ballpark.
J
JonFrum
Guest
The Mechanics' plan isn't as good as people think. There's a 40% cut in benefits for all new bargaining units, and other limitations as well. Almost all pension plans are hurting. Check out the info in this link. . .
http://www.browncafe.com/community/threads/ups-subsidizing-non-ups-pensions.27725/
Don't know, but I talked to a retired pkg car driver from NJ. He told me that UPS had their retirement pension.He has been retired now for 14 yrs,and this is what was offered buy UPS back then. 25yrs / 55age or 30 and out $2800 a month free health isurance for 10 yrs no remployment rules. Today that same crowd up there, gets the same deal, with an icrease of $500 for a total of $3300 a month.
He told me a few yrs before he retired that the Teamsters came in and wanted control over their retirement plan. After all was said and done the teamsters were shown the door.
He told me a few yrs before he retired that the Teamsters came in and wanted control over their retirement plan. After all was said and done the teamsters were shown the door.
Smart people ! Its obvious that less and less want the teamsters to be involved in their future especially when it comes to managing $
705red
Browncafe Steward
Here we go! How obvious is it? I know your prepared to show some sort of stats that you have uncovered. Right? You took a secret vote from all union upsers in their sleep last night to come to this conclusion. Right?
If not keep your anti teamster right wing comments over in the labor section on this forum, this is a warning, i wont be so nice next time. Alot of us come here (ups discussions) to get away from your negative spewing!
J
JonFrum
Guest
You seem to be saying that there are package car drivers in New Jersey who's pension fund does not have any Teamsters officials as trustees. Anything is possible, but I'd like to know the name of the fund and any other details you may have. Thanks.
ikoi62
Well-Known Member
our pension here in jersey is controlled by the local not by Ups..and as of right now its 25/55 or 30 and out $3700 a month. i just hope it stays that way!
this is for full time employees
part timers are pensioned by the company and its not even close to the numbers stated above.
this is for full time employees
part timers are pensioned by the company and its not even close to the numbers stated above.
B
Brown Devil
Guest
....Which Teamster Pensions (FT & PT) are wholly paid for by UPS ?...and does UPS still have to pay to the Teamsters pension dollars ?......
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