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UPS Union Issues
RtW / voting question
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<blockquote data-quote="DELACROIX" data-source="post: 5378598" data-attributes="member: 49065"><p>In reality a <strong>Part Time Pension</strong> is a pipe dream for most of our members:</p><p></p><p>a. Have to be 21 in order to start vesting.</p><p></p><p>b. If you are lucky enough to reach the service levels...It pays out peanuts compared to the full timers' pension plans...particularly if you happen to be under the Central and Southern Supplement.</p><p></p><p>c. Most of the part timers <strong>DO NOT </strong>hang around for 5 years to become vested in their pensions. In fact most never make it through orientation,</p><p></p><p>d. You quit accruing pension benefits once you reach the service level of 35 years. We have some part timers in our building that have over 45 years in, the Company does not have to provide any additional coverage or improvements past 35 years. (Central)....</p><p></p><p>e. Most of the full timers that worked part timer before they took a full time position have vested years that is formulated based on their number of years and when they left that part time pension plan. That plan has a <strong>(6 Percent)</strong> reduction per year prior to age 65, so if you retire at age 55 those monetary benefits are reduced (<strong>60 Percent). </strong></p><p><strong></strong></p><p><strong>Most of the full timers that are retiring today are basing their retirement income only on their full time years...the 5 to 15 years part time service that it took to bid on a full time position turns out to be pocket change.</strong></p><p><strong></strong></p><p><strong>This is a negotiable item that the past Union Leadership never could or wanted to address, most of happening for the rank and file under the Central and Southern Conferences...</strong></p></blockquote><p></p>
[QUOTE="DELACROIX, post: 5378598, member: 49065"] In reality a [B]Part Time Pension[/B] is a pipe dream for most of our members: a. Have to be 21 in order to start vesting. b. If you are lucky enough to reach the service levels...It pays out peanuts compared to the full timers' pension plans...particularly if you happen to be under the Central and Southern Supplement. c. Most of the part timers [B]DO NOT [/B]hang around for 5 years to become vested in their pensions. In fact most never make it through orientation, d. You quit accruing pension benefits once you reach the service level of 35 years. We have some part timers in our building that have over 45 years in, the Company does not have to provide any additional coverage or improvements past 35 years. (Central).... e. Most of the full timers that worked part timer before they took a full time position have vested years that is formulated based on their number of years and when they left that part time pension plan. That plan has a [B](6 Percent)[/B] reduction per year prior to age 65, so if you retire at age 55 those monetary benefits are reduced ([B]60 Percent). Most of the full timers that are retiring today are basing their retirement income only on their full time years...the 5 to 15 years part time service that it took to bid on a full time position turns out to be pocket change. This is a negotiable item that the past Union Leadership never could or wanted to address, most of happening for the rank and file under the Central and Southern Conferences...[/B] [/QUOTE]
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