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Brown Cafe UPS Forum
UPS Retirement Topics
REFORM PLAN FOR Central States Pension Plan
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<blockquote data-quote="BROWNHOG" data-source="post: 1922794" data-attributes="member: 9720"><p>I took 15 years of no raises or reduced increase of a salary base along with job reclassification and reduction in contributions to my pension based on my expected work week of 55 hours per week. No credit for hours worked and required beyond 55 hours . My pension took a hard hit , from 4600 to 2900 at the max level and it started 15 years ago when the company changed their calculation and contribution rates for the management pension. The pension calculation was redefine while at the same time billions were being given to the Teamsters Central States and other funds to shore up a suspect and poorly run fund. Teamster pension funding from UPS was huge during those times as the Teamsters tried to finance their pension obligations. I'll also add that my management pension was reduced by the " expected " amount of a Teamsters pension I was to receive @ age 64 .</p></blockquote><p></p>
[QUOTE="BROWNHOG, post: 1922794, member: 9720"] I took 15 years of no raises or reduced increase of a salary base along with job reclassification and reduction in contributions to my pension based on my expected work week of 55 hours per week. No credit for hours worked and required beyond 55 hours . My pension took a hard hit , from 4600 to 2900 at the max level and it started 15 years ago when the company changed their calculation and contribution rates for the management pension. The pension calculation was redefine while at the same time billions were being given to the Teamsters Central States and other funds to shore up a suspect and poorly run fund. Teamster pension funding from UPS was huge during those times as the Teamsters tried to finance their pension obligations. I'll also add that my management pension was reduced by the " expected " amount of a Teamsters pension I was to receive @ age 64 . [/QUOTE]
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REFORM PLAN FOR Central States Pension Plan
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