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Brown Cafe UPS Forum
UPS Retirement Topics
retiree medical coverage going up
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<blockquote data-quote="Brown too long" data-source="post: 251747" data-attributes="member: 12007"><p>I tried to retire thru CS in 2003 after all the changes where made. It was going to cost for my wife and I $1000 per month for health coverage thru CS. And for the wife to get any benefit if I should die another $450 a month. Her benefit was to be one half of my pension total or $1600 per month.</p><p>So $1450 off the top of $3200 left $1750. Take taxes off of that and it was worse than pittiful. </p><p>So yes I am still around and still getting shafted by CS. Stuck in a pension fund that was 50% funded and with the 3.9 billion after tax buyout will still be severely underfunded. In my estimate the buyout only kicks the insolventcy can down the road a few years. </p><p>I know the Teamsters and UPS very well and both are only concerned with their own bottom lines. A driver is nothing more than a number to either one. </p><p>This contract was force fed to the Teamsters because of changes in law that would have led to government takeover of CS at start of new year. UPS dictated and the Teamsters folded because the fund had to have an infusion of cash. </p><p>I am sorry to have rambled a little guys but this is my first post and I got a little carried away.</p></blockquote><p></p>
[QUOTE="Brown too long, post: 251747, member: 12007"] I tried to retire thru CS in 2003 after all the changes where made. It was going to cost for my wife and I $1000 per month for health coverage thru CS. And for the wife to get any benefit if I should die another $450 a month. Her benefit was to be one half of my pension total or $1600 per month. So $1450 off the top of $3200 left $1750. Take taxes off of that and it was worse than pittiful. So yes I am still around and still getting shafted by CS. Stuck in a pension fund that was 50% funded and with the 3.9 billion after tax buyout will still be severely underfunded. In my estimate the buyout only kicks the insolventcy can down the road a few years. I know the Teamsters and UPS very well and both are only concerned with their own bottom lines. A driver is nothing more than a number to either one. This contract was force fed to the Teamsters because of changes in law that would have led to government takeover of CS at start of new year. UPS dictated and the Teamsters folded because the fund had to have an infusion of cash. I am sorry to have rambled a little guys but this is my first post and I got a little carried away. [/QUOTE]
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