Teamster Buyout?

[IVE GOTTA PACKAGE 4U]

Not sure how it is around the country but here we have a very large feeder department and it’s the only department that has layoffs. Some of those guys haven’t worked more than a couple days all year in feeders

Just wait until we cut back on Amazon

 

[Brown Circus]

I wonder which Circle of Honor jacket Tom Camp’s family will use in his coffin.

Wait who is Tom Camp?

 

[Red Headed Stranger]

I have no idea what you consider realistic, but it would be unrealistic to think that someone like myself would take an offer for less than $350,000 I have the years of service. I don’t quite have the age. I don’t expect the offer to be that much so I really don’t care, there will be some people that take it but if they think they’re going to get feeder drivers to care about $100,000 I think they’re sadly mistaken.

I think the real issue will be for those that take the offer, unless they have way under-funded or opted NOT to do a 401k previously and have the ability to shift a lot of what they'll receive from the buyout into the tax deferred 401k ($23,500 maximum for 2025 + $7,500 for ages 50 - 59 or the higher $11,250 for those ages 60 to 63) prior to their leaving, they will lose such a large portion of what they are receiving in the buyout to Federal and State taxes. When you add the lump-sum payout to what you'll have already made this year, in most cases, it will significantly increase your tax bill.

 

[IVE GOTTA PACKAGE 4U]

I think the real issue will be for those that take the offer, unless they have way under-funded or opted NOT to do a 401k previously and have the ability to shift a lot of what they'll receive from the buyout into the tax deferred 401k ($23,500 maximum for 2025 + $7,500 for ages 50 - 59 or the higher $11,250 for those ages 60 to 63) prior to their leaving, they will lose such a large portion of what they are receiving in the buyout to Federal and State taxes. When you add the lump-sum payout to what you'll have already made this year, in most cases, it will significantly increase your tax bill.

Hopefully. It's payable in January

 

[burrheadd]

From all the inside information you giving, i thought you a young UPS executive with his ear on the boardroom wall .Not a broken down half brain-dead cardboard juggler like the rest of us here.

He makes that up as he goes along
Nothing to see here

 

[Red Headed Stranger]

Hopefully. It's payable in January

Unfortunately, if I were a betting person, I would say the company wants to have this completely done and off their books before the end of the fiscal year (December).

 

[Red Headed Stranger]

get the ones with the racing stripes!

No, that was the underwear!

 

[AllTheBellsAndWhistles123]

Hopefully. It's payable in January

UPS will want to clear their books before the end of the year.

 

[Thebrownblob]

He makes that up as he goes along
Nothing to see here

Yep

 

[Thebrownblob]

UPS will want to clear their books before the end of the year.

Possibly, although we haven’t seen any offer so we have no idea what they want to do. Instead of pretending you know for sure why don’t you just wait like the rest of it and see what’s gonna happen.

You were on here Yesterday with a lot of wild speculation like you had knowledge when you’ve had none that’s not really very endearing.

 

[IVE GOTTA PACKAGE 4U]

Unfortunately, if I were a betting person, I would say the company wants to have this completely done and off their books before the end of the fiscal year (December).

Not much time to plan

 

[Thebrownblob]

Unfortunately, if I were a betting person, I would say the company wants to have this completely done and off their books before the end of the fiscal year (December).

If that is their plan I don’t know how that would even work. The process takes so long. It would be the end of the year before most even have gotten back their numbers and applied approved. Especially if there’s a supposed influx. There are some people that already know their numbers currently, but unless they were planning on retiring already very shortly, most people don’t. And if you were to ask around for people who are even remotely close to retirement about what they know about getting their numbers most of them have no idea because the process is so arduous. In my local, we do have someone who is very good at helping people get it done but even he says it’s a very slow process and start early.

 

[IVE GOTTA PACKAGE 4U]

If that is their plan I don’t know how that would even work. The process takes so long. It would be the end of the year before most even have gotten back their numbers and applied approved. Especially if there’s a supposed influx. There are some people that already know their numbers currently, but unless they were planning on retiring already very shortly, most people don’t. And if you were to ask around for people who are even remotely close to retirement about what they know about getting their numbers most of them have no idea because the process is so arduous. In my local, we do have someone who is very good at helping people get it done but even he says it’s a very slow process and start early.

It's unbelievable how clueless the members are on retirement.
Honestly my opinion and $5 won't buy you a cup of coffee at Starbucks.

But to get rid of a bunch of drivers before peak might be a relapse of twenty thirteen

 

[IVE GOTTA PACKAGE 4U]

UPS will want to clear their books before the end of the year.

If i'm correct , i believe he also said the two tier weight system would never be eliminated.

 

[AllTheBellsAndWhistles123]

If that is their plan I don’t know how that would even work. The process takes so long. It would be the end of the year before most even have gotten back their numbers and applied approved. Especially if there’s a supposed influx. There are some people that already know their numbers currently, but unless they were planning on retiring already very shortly, most people don’t. And if you were to ask around for people who are even remotely close to retirement about what they know about getting their numbers most of them have no idea because the process is so arduous. In my local, we do have someone who is very good at helping people get it done but even he says it’s a very slow process and start early.

The buyout and putting in your papers are two separate things. The buyout will take less than 3 months to complete-----offer letters sent in early August with a 30 day deadline (early September) with payment made at the end of September and separation in early October. The retirement process will take longer with the retiree receiving multiple checks as part of their first pension payment.

 

[Thebrownblob]

The buyout and putting in your papers are two separate things. The buyout will take less than 3 months to complete-----offer letters sent in early August with a 30 day deadline (early September) with payment made at the end of September and separation in early October. The retirement process will take longer with the retiree receiving multiple checks as part of their first pension payment.

Excuse me, sir, but what kind of knucklehead would take a buyout before He or she is confident of what his pension numbers are?

And again you’re speaking with a certainty about something you have no idea about, no wonder you have such a reputation here.

 

[IVE GOTTA PACKAGE 4U]

The buyout and putting in your papers are two separate things. The buyout will take less than 3 months to complete-----offer letters sent in early August with a 30 day deadline (early September) with payment made at the end of September and separation in early October. The retirement process will take longer with the retiree receiving multiple checks as part of their first pension payment.

Honestly do you just make this stuff up?
This company is not going to pay you one penny before you retire

 

[Thebrownblob]

Honestly do you just make this stuff up?
This company is knocking one penny before you retire

Yes, it’s absurd

 

[IVE GOTTA PACKAGE 4U]

Yes, it’s absurd

@DRAGON II said he would pay me 5k to stay.

 

[UnionStrong]

Excuse me, sir, but what kind of knucklehead would take a buyout before He or she is confident of what his pension numbers are?

And again you’re speaking with a certainty about something you have no idea about, no wonder you have such a reputation here.

Who the is that ass?