Retirement...contract talks

Discussion in 'UPS Retirement Topics' started by gman042, Apr 16, 2016.

  1. gman042

    gman042 Been around the block a few times

    We have have a few guys retire recently. They will have a nice little pension to live off from. Some of them even make more money retired than they did when they were working.

    I thought I would risk some independent thinking.

    It seems the union focuses on raises. While I admit that a raise is nice let us face the facts. Just how much can a guy that juggles cardboard and schedules make an hour? Are we nearing that wage. Sure, there are no others that truly compare to what we do every day. There are some that try but none can come close. No offense intended to our competitors but they are posers.
    UPS can try to say that any monkey off the street can do what their drivers do everyday. We all know the reality. Some can handle the stress while others cannot function under the pressure to perform. Some can handle the physical labor while it is easier for others to sit behind a desk.

    Quite frankly...I don't think I need a raise. What I would like to see is a focus in the next contract to guarantee my retirement. I still have many years until I can see that day. I want to know that I have something there waiting from me after the years of sacrificing my body, my family time and some of my freedoms to UPS. I just don't want my retirement in any shape or form to be on the bargaining table other than to be augmented(i.e. extended healthcare). It seems that every contract we concede something to UPS that we held dear. And now that it is gone it will never come back.

    How can we as union members get our voices heard when it comes to topics we want on the bargaining table during contract talks?
  2. Re-Raise

    Re-Raise Well-Known Member

    But the problem is that the compensation UPS pays into the pension plan is not yours. It pays for other teamsters who are in the multi-employer fund and retirees who never had enough contributions made on their behalf to support the annuity they are receiving. We keep throwing more money into something we may not get any benefit from. At least with my hourly pay I control what is done with it.
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  3. Jkloc420

    Jkloc420 Well-Known Member

    The union gets union dues based on what you make not what goes into your pension. Furthermore look what happened to central states and them cutting peoples pensions. Who knows if anything is going to be there 30 years from now. At least with the wages you can invest it how you see fit.
  4. Gumby

    Gumby *

    I want none if my raises going into my pension fund. It's in bad shape. I would rather out that money in MY 401K
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  5. By The Book

    By The Book Well-Known Member

    I would have to agree if your pension is in bad shape and they will force cuts and lower returns on the members anyway. What a way to take money from the members!
  6. olroadbeech

    olroadbeech Happy Verified UPSer

    I agree with you. It is important to take a big part in your retirement other than your pension and social security. Max out your 401k as soon as possible and even start an IRA for you and your spouse and shelter as much income from taxes as possible. pay off your home sooner than 30 years by making extra principle payments every month.

    if you do all these things which is quite possible with planning your stress level will go way down.
  7. Packmule

    Packmule Well-Known Member

    Getting past my years at UPS, but if it was me starting over, I'd demand all monies currently going into the pension plan be contributed to a 401k. Instead. Get it out of the company's, Teamster's and the government's hands. Add in your personal contribution and it would be huge, private and much safer.
  8. Wally

    Wally Hailing from Parts Unknown.

    Local 177 voted, and passed a motion to divert a portion of their raise back into the pension fund, so it can be done. Bring it up at the next union meeting.
  9. Gumby

    Gumby *

    They are taking part of our raises for the pension fund. We didn't have a choice.
    It's like taking a piss on a forest fire.
  10. By The Book

    By The Book Well-Known Member

    Hopefully they invest those pension funds wisely so they ether will not have to make drastic cuts down the road. If they are diverting raises and not being realistic and are promising huge payouts, they have their heads in the sand. They may have to make some changes still going forward to get the funding percentage up and to have a secure fund for the future. The choice you didn't have was the master passing on the first vote.
  11. Gumby

    Gumby *

    It's too late for our pension fund.
  12. By The Book

    By The Book Well-Known Member

    Someone's asleep at the wheel there! Have they made any cuts or revisions in your plan since 2008?
  13. Gumby

    Gumby *

    We are barely getting any credit for all of that money UPS is putting in. Something needs to happen before it's all gone.
  14. By The Book

    By The Book Well-Known Member

    Out west they restructured our plan and cut the accrual rate around late 2008 when the market dropped. They got a loan and got the funding percentage above 90%, lets hope it stays. If your plan hasn't dropped your accrual rate by say half, and still promise big payouts, your in for a rocky road ahead.
  15. Gumby

    Gumby *

    It's a multi employer fund,that's the biggest problem. Too many orphans.
  16. By The Book

    By The Book Well-Known Member

    Ours is a multi employer plan as well. I do know you can pay a little and get copies of the financials but I don't know if that would help anyone. Who knows.....maybe if you showed the trustees it may be the first time they've seen them.
  17. Gumby

    Gumby *

    That's one if the biggest reasons we voted our local supplement down. H & H don't give a crap.
  18. By The Book

    By The Book Well-Known Member

    I think we all found out the hard way that once the master passed it was a done deal, and our supplements in some locals as we all saw were imposed on them.
  19. Gumby

    Gumby *

    I know it all too well. 2018 should be interesting.
  20. By The Book

    By The Book Well-Known Member

    I'll be on the outside looking no vote won't count, if it needed to be that.