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Teamster Pensions - The Ultimate Goal and Weakness of UPS Contract Negotiations
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<blockquote data-quote="InsideUPS" data-source="post: 1105089" data-attributes="member: 31414"><p>Greetings Stink - Bug : ) Thank you for your additional input on this subject. I agree that UPS does not <u>administratively</u> "control" the New England Pension Fund and I apologize for not being more clear on my meaning of the word "control". "Control" in my mind comes in two forms, direct & indirect. IMHO, UPS clearly has "indirect" control of both the UPS portion of New England Fund and the UPS portion of the Central States fund. </p><p></p><p>Reference for Below Comments: <a href="http://www.pionline.com/article/20120827/ONLINE/120829904" target="_blank">http://www.pionline.com/article/20120827/ONLINE/120829904</a></p><p></p><p><span style="font-family: 'georgia'"><span style="color: #008080"><em><span style="font-family: 'arial'"><span style="font-size: 12px">Under the agreement, UPS plans to pay the withdrawal liability in annual <u>$43 million installments over 50 years</u>, Mr. Black said. In the current quarter, ending Sept. 30, UPS plans to take a charge of $896 million for the present value of its total withdrawal liability from the original pension plan structure. </span></span></em></span><span style="color: #ff0000"><em><span style="font-family: 'arial'"><span style="font-size: 12px">Also, in the new structure, UPS' “<strong><u>liability is only what is in our contract</u></strong>” with its employees who belong to the New England Teamsters fund, Mr. Black said.</span></span></em></span></span></p><p><span style="font-family: 'georgia'"><span style="color: #008080"><em><span style="font-family: 'arial'"><span style="font-size: 12px"><u>“Clearly, it's cost-effective,” Mr. Black said of the new structure.</u></span></span></em></span></span></p><p><span style="font-family: 'georgia'"><span style="color: #008080"><em><span style="font-family: 'arial'"><span style="font-size: 12px">“In addition, UPS and NETTI have agreed to a contribution rate for future accruals designed to ensure UPS employees do not see a reduction in their pension benefits, </span></span></em></span><u><span style="color: #ff0000"><em><span style="font-family: 'arial'"><span style="font-size: 12px">and the company will not be required to increase cash contributions for 10 years,” the statement said.</span></span></em></span></u></span></p><p></p><p><span style="font-family: 'georgia'"><span style="font-family: 'arial'"><span style="font-size: 12px">Stink, I understand and appreciate your desire to defend our Union and to safeguard against mis-information however, we must also guard against NOT providing UPS'ers with a CLEAR and CONCISE understanding of what their pension will be when they retire.....AND....for years after they retire..... </span></span></span></p><p></p><p><span style="font-family: 'georgia'"><span style="font-family: 'arial'"><span style="font-size: 12px">For example...from above.....Mr. Black states that "UPS's liability is ONLY what is in our contract". I guarantee you that the contract language will NOT detail the pension. It will only contain language that states the UPS Pension benefit is detailed in the UPS's Summary Plan Document... . ONLY after you peel off layer after layer of obscure language will you discover what your pension MAY be. I have not met one driver in our 90+ driver center that knows or understands what he or she will actually receive in pension benefits when they retire and for years after they retire. Most drivers that have part-time years are extremely disappointed when they apply to Atlanta for their pension benefit determination. (Central States). Even our long time BA who was a driver for many years informed me that he was not absolutely sure what his pension will be... There is absolutely NO excuse in my mind why we can't be very CLEAR on our pension benefit BEFORE and AFTER we retire.</span></span></span></p><p></p><p><span style="font-family: 'georgia'"><span style="font-family: 'arial'"><span style="font-size: 12px">Freezing UPS pension benefits for a period of 10 years puts UPS clearly in "control" of the pension in my mind. No matter how dedicated of a UPS Teamster we are, we must face reality and deal with facts rather than political rhetoric. Gone are the days where Teamsters have no access to "other" information. There is nothing wrong with questioning issues that will determine our livelihood.</span></span></span></p><p></p><p><span style="font-family: 'georgia'"><span style="font-family: 'arial'"><span style="font-size: 12px">In closing, I maintain that all contracts from this point forward will involve the "Big Picture" for UPS which includes the "Golden Goose"...the UPS portion of the Teamster pension funds. It is only a matter of time as more pension benefits are being payed out than our coming in from Teamster jobs. You and I will never really know ALL the "compromised agreements" that are going on behind closed doors but UPS is clearly in "control" from my perspective. My mother's accounting business once had a plaque hanging in her office that read "He who has the Gold...Makes the Rules".. Clearly it is UPS who has the Gold. Only by being open, honest, and facing reality will we be able to maximize our fair share of this Gold. UPS Teamsters of today are in a totally different era from the Teamsters of yesteryear.... We can no longer win favorable contracts using old bargaining tactics of the past (dare I say...strike). We must come up with and implement new strategies that do NOT put our workers at risk of losing their jobs. All this IS possible with the right leadership AND support. </span></span></span></p><p><span style="font-family: 'georgia'"><span style="font-family: 'arial'"><span style="font-size: 12px"> </span></span></span></p></blockquote><p></p>
[QUOTE="InsideUPS, post: 1105089, member: 31414"] Greetings Stink - Bug : ) Thank you for your additional input on this subject. I agree that UPS does not [U]administratively[/U] "control" the New England Pension Fund and I apologize for not being more clear on my meaning of the word "control". "Control" in my mind comes in two forms, direct & indirect. IMHO, UPS clearly has "indirect" control of both the UPS portion of New England Fund and the UPS portion of the Central States fund. Reference for Below Comments: [url]http://www.pionline.com/article/20120827/ONLINE/120829904[/url] [FONT=georgia][COLOR=#008080][I][FONT=arial][SIZE=3]Under the agreement, UPS plans to pay the withdrawal liability in annual [U]$43 million installments over 50 years[/U], Mr. Black said. In the current quarter, ending Sept. 30, UPS plans to take a charge of $896 million for the present value of its total withdrawal liability from the original pension plan structure. [/SIZE][/FONT][/I][/COLOR][COLOR=#ff0000][I][FONT=arial][SIZE=3]Also, in the new structure, UPS' “[B][U]liability is only what is in our contract[/U][/B]” with its employees who belong to the New England Teamsters fund, Mr. Black said.[/SIZE][/FONT][/I][/COLOR][/FONT] [FONT=georgia][COLOR=#008080][I][FONT=arial][SIZE=3][U]“Clearly, it's cost-effective,” Mr. Black said of the new structure.[/U][/SIZE][/FONT][/I][/COLOR][/FONT] [FONT=georgia][COLOR=#008080][I][FONT=arial][SIZE=3]“In addition, UPS and NETTI have agreed to a contribution rate for future accruals designed to ensure UPS employees do not see a reduction in their pension benefits, [/SIZE][/FONT][/I][/COLOR][U][COLOR=#ff0000][I][FONT=arial][SIZE=3]and the company will not be required to increase cash contributions for 10 years,” the statement said.[/SIZE][/FONT][/I][/COLOR][/U][/FONT] [FONT=georgia][FONT=arial][SIZE=3]Stink, I understand and appreciate your desire to defend our Union and to safeguard against mis-information however, we must also guard against NOT providing UPS'ers with a CLEAR and CONCISE understanding of what their pension will be when they retire.....AND....for years after they retire..... [/SIZE][/FONT][/FONT] [FONT=georgia][FONT=arial][SIZE=3]For example...from above.....Mr. Black states that "UPS's liability is ONLY what is in our contract". I guarantee you that the contract language will NOT detail the pension. It will only contain language that states the UPS Pension benefit is detailed in the UPS's Summary Plan Document... . ONLY after you peel off layer after layer of obscure language will you discover what your pension MAY be. I have not met one driver in our 90+ driver center that knows or understands what he or she will actually receive in pension benefits when they retire and for years after they retire. Most drivers that have part-time years are extremely disappointed when they apply to Atlanta for their pension benefit determination. (Central States). Even our long time BA who was a driver for many years informed me that he was not absolutely sure what his pension will be... There is absolutely NO excuse in my mind why we can't be very CLEAR on our pension benefit BEFORE and AFTER we retire.[/SIZE][/FONT][/FONT] [FONT=georgia][FONT=arial][SIZE=3]Freezing UPS pension benefits for a period of 10 years puts UPS clearly in "control" of the pension in my mind. No matter how dedicated of a UPS Teamster we are, we must face reality and deal with facts rather than political rhetoric. Gone are the days where Teamsters have no access to "other" information. There is nothing wrong with questioning issues that will determine our livelihood.[/SIZE][/FONT][/FONT] [FONT=georgia][FONT=arial][SIZE=3]In closing, I maintain that all contracts from this point forward will involve the "Big Picture" for UPS which includes the "Golden Goose"...the UPS portion of the Teamster pension funds. It is only a matter of time as more pension benefits are being payed out than our coming in from Teamster jobs. You and I will never really know ALL the "compromised agreements" that are going on behind closed doors but UPS is clearly in "control" from my perspective. My mother's accounting business once had a plaque hanging in her office that read "He who has the Gold...Makes the Rules".. Clearly it is UPS who has the Gold. Only by being open, honest, and facing reality will we be able to maximize our fair share of this Gold. UPS Teamsters of today are in a totally different era from the Teamsters of yesteryear.... We can no longer win favorable contracts using old bargaining tactics of the past (dare I say...strike). We must come up with and implement new strategies that do NOT put our workers at risk of losing their jobs. All this IS possible with the right leadership AND support. [/SIZE][/FONT][/FONT] [FONT=georgia][FONT=arial][SIZE=3] [/SIZE][/FONT][/FONT] [/QUOTE]
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