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UPS Union Issues
Teamsters Applaud Treasury Decision to Deny CSPF Cuts, Protect Retiree Pensions
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<blockquote data-quote="Inthegame" data-source="post: 2191007" data-attributes="member: 37112"><p>And that's why multiplying is inaccurate as opposed to adding. Len would receive $6428.70 if we took 30 X $214.29. Adding Len's years up by his earned future service credits each year is the proper computation.</p><p> </p><p>And in Len's case it is close. However, it is inaccurate to state the future projected amount as something that is occuring now. </p><p> </p><p>Mechanics who already have 30 years in and retire this year <strong>will </strong>(not may) be (more than a little) less due to lower rates of the past.</p><p> </p><p>Realistic to a point. That <strong>may</strong> be a true statement, and if the benefit rates continue to increase, in less than thirty years. Otherwise it may happen thirty years from now, if the plan survives future events.</p><p>In any case, it's not happening now.</p></blockquote><p></p>
[QUOTE="Inthegame, post: 2191007, member: 37112"] And that's why multiplying is inaccurate as opposed to adding. Len would receive $6428.70 if we took 30 X $214.29. Adding Len's years up by his earned future service credits each year is the proper computation. And in Len's case it is close. However, it is inaccurate to state the future projected amount as something that is occuring now. Mechanics who already have 30 years in and retire this year [B]will [/B](not may)[B] [/B]be (more than a little) less due to lower rates of the past. Realistic to a point. That [B]may[/B] be a true statement, and if the benefit rates continue to increase, in less than thirty years. Otherwise it may happen thirty years from now, if the plan survives future events. In any case, it's not happening now. [/QUOTE]
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Teamsters Applaud Treasury Decision to Deny CSPF Cuts, Protect Retiree Pensions
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