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Brown Cafe UPS Forum
UPS Union Issues
retirement
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<blockquote data-quote="Shadow999" data-source="post: 260318" data-attributes="member: 12366"><p>From the literature that has been sent to us from UPS and the Teamsters: If the contract is ratified UPS will pay an amount that will bring the Central State pension up to 74 per cent. They state that it is now below 50 per cent. Any future retirees from UPS after the 1st of the year will be paid their entire pension by UPS until they are 65. Then CS will pay the amount that was earned while in CS and the rest by UPS. If the CS amount has to be reduced UPS will pick up the slack. The fact that CS will pay no benifits until 65 plus the amount UPS is to pay into the fund should give CS a chance to recover. There is also the new pension reform law that will force the employers in the fund to bring it up to 100% in a specified number of years.</p></blockquote><p></p>
[QUOTE="Shadow999, post: 260318, member: 12366"] From the literature that has been sent to us from UPS and the Teamsters: If the contract is ratified UPS will pay an amount that will bring the Central State pension up to 74 per cent. They state that it is now below 50 per cent. Any future retirees from UPS after the 1st of the year will be paid their entire pension by UPS until they are 65. Then CS will pay the amount that was earned while in CS and the rest by UPS. If the CS amount has to be reduced UPS will pick up the slack. The fact that CS will pay no benifits until 65 plus the amount UPS is to pay into the fund should give CS a chance to recover. There is also the new pension reform law that will force the employers in the fund to bring it up to 100% in a specified number of years. [/QUOTE]
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