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<blockquote data-quote="iam" data-source="post: 259992" data-attributes="member: 5461"><p>Shadow....I am a steward for an IAM group. The retirees in our area just were notified that their UPS health care would increase from $50 to $114 as of Jan. 1 also. If you read the Summary Plan Description (SPD) it has a clause that if " the cost of retiree health care exceeds "X" amount per year, per participant, (I don't know the exact figure right off), then all retirees will share in that overcost. So if the cost excedes "X" in 2008 it could increase again in 2009 and every year after that. But if by some chance it decreased the retirees part could decrease also. You can find the SPD on UPSers.com in the life and career section. Warning, it's 104 pages long. The good news is we have been under this plan since '97 and this is the first increase we have had. Hope this helps you.</p></blockquote><p></p>
[QUOTE="iam, post: 259992, member: 5461"] Shadow....I am a steward for an IAM group. The retirees in our area just were notified that their UPS health care would increase from $50 to $114 as of Jan. 1 also. If you read the Summary Plan Description (SPD) it has a clause that if " the cost of retiree health care exceeds "X" amount per year, per participant, (I don't know the exact figure right off), then all retirees will share in that overcost. So if the cost excedes "X" in 2008 it could increase again in 2009 and every year after that. But if by some chance it decreased the retirees part could decrease also. You can find the SPD on UPSers.com in the life and career section. Warning, it's 104 pages long. The good news is we have been under this plan since '97 and this is the first increase we have had. Hope this helps you. [/QUOTE]
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