Teamsters pension cut

[brett636]

The moral of the store here is to SAVE SAVE SAVE! Save as much as you can for as long as you can so should your pension fund end up like Local 707's did you won't find yourself sharing dog food with your dog. We make good money, and everyone of us has the potential to have investments in funds like 401ks and IRAs that would provide incomes that exceed what our pensions are currently promising us. Don't spend a career making good money and allow it to end without something to show for it. An impressive W2 each year is pointless if you didn't save some of it for your future. Entering retirement debt free is also a good idea, unlike the fool in the article with a $2300 a month mortgage at 75 years old.

 

[UpstateNYUPSer(Ret)]

I think the point most of us can agree on, people need to be held accountable. We have a contract, we have money going in it. These are job benefits, we don't want to hear excuses.

In our case the Company held up their end of the bargain. It was the Union that dropped the ball.

 

[OrionsBitch]

I get

I think the point most of us can agree on, people need to be held accountable. We have a contract, we have money going in it. These are job benefits, we don't want to hear excuses.

I get that. You pay in and you should get your money out. But what bothers me is how much people at UPS complain. To be completely honest we make way more than we should. We deliver boxes. It's not hard and it's nothing super important(it is to some extent). I make more than my wife who is a nurse. We make more than the avg wage lawyers make. We make more than teachers, police officers, EMT, firefighters, and really most jobs I can think of(I know there are exceptions). But when I hear people complain about not making enough etc and then I see how irresponsible they are with their money it's sad. You want higher wages? Well longer days and more scrutiny from management will follow. I heard a car washer complain about not among enough. Let me tell you. YOU WASH CARS! you're not saving lives and your doing nothing important. It's a beginner job and you deserve to make 8.25 or whatever they make an hour. People are so entitled it's sad....And this is coming from a millennial. So I get the pension thing. But at the same time save your own damn money...Roth IRA, target retirement fund...etc....plenty of other options out there.

 

[Ghost in the Darkness]

In our case the Company held up their end of the bargain. It was the Union that dropped the ball.

Didn't say it was the companies fault. It is the Unions fault. It shouldn't be the members that get the excuses and take it on the chin. We need to take our pound of flesh.

 

[UpstateNYUPSer(Ret)]

The Treasury has "suggested" that we go after our investment company for the $30M or so of excessive fees that they charged us for their services.

 

[Ghost in the Darkness]

I get

I get that. You pay in and you should get your money out. But what bothers me is how much people at UPS complain. To be completely honest we make way more than we should. We deliver boxes.

Yeah there are complainers, but when you make deals and contracts they need to honor them. I'm old school and your word is your bond. These things are in writing and they are owed to us. People and organizations need to go down for this. If you can't live up to a promise, don't make it.
As far as what our jobs are and how we are compensated, UPS makes what 3+ billion in profits a year off our backs? I don't feel inclinded to give back anything.

 

[BigUnionGuy]

In our case the Company held up their end of the bargain. It was the Union that dropped the ball.

That statement is misleading.


The company paid the negotiated contribution rate.

But, you can't blame the Union for the deregulation of the trucking industry or

the swings in the stock market. More retirees than contributors, is the problem.

You would to need to make consistent, double digit returns on investments to keep up.


In the case of Central States, it's not like you have a couple of elected Union officials

managing and investing billions of dollars.


The thing that pisses most people off, they don't have control over those funds

to manage themselves and it's pooled with others. Which I understand.

But, it's not an option otherwise.


Being in this job, you are a part of a defined pension plan.... like it or not.



-Bug-

 

[BigUnionGuy]

I do remember this group, that stated they could guarantee a $7000 a month pension

based on the current contribution rate.

APWA ??

 

[retired2000]

Big union guy the union made a lot of side deals with companies as far as paying their share yellow trucking and p& c to name two

 

[PT Car Washer]

I get

I get that. You pay in and you should get your money out. But what bothers me is how much people at UPS complain. To be completely honest we make way more than we should. We deliver boxes. It's not hard and it's nothing super important(it is to some extent). I make more than my wife who is a nurse. We make more than the avg wage lawyers make. We make more than teachers, police officers, EMT, firefighters, and really most jobs I can think of(I know there are exceptions). But when I hear people complain about not making enough etc and then I see how irresponsible they are with their money it's sad. You want higher wages? Well longer days and more scrutiny from management will follow. I heard a car washer complain about not among enough. Let me tell you. YOU WASH CARS! you're not saving lives and your doing nothing important. It's a beginner job and you deserve to make 8.25 or whatever they make an hour. People are so entitled it's sad....And this is coming from a millennial. So I get the pension thing. But at the same time save your own damn money...Roth IRA, target retirement fund...etc....plenty of other options out there.

Car Washers making $8.25/hr ? Our Car Washers make $33.60/hr. The same as the Porters that clean the toilets and empty the waste paper cans.

 

[upschuck]

Big union guy the union made a lot of side deals with companies as far as paying their share yellow trucking and p& c to name two

Wonder what the pension situation would be, if they only got credit for what their company actually paid in.

 

[BigUnionGuy]

Big union guy the union made a lot of side deals with companies as far as paying their share yellow trucking and p& c to name two

I'm aware of the current situation with YRC.

Side deals ? I would like to hear about them. Seriously. No BS.

Our Car Washers make $33.60/hr. The same as the Porters that clean the toilets and empty the waste paper cans.

Red circled (pre 82) ?

Is that a Local agreement ?


Or, an original 22.2 job ?

(it has to be, based on the pay rate)


-Bug-

 

[UpstateNYUPSer(Ret)]

P&C is gone.

 

[PT Car Washer]

I'm aware of the current situation with YRC.

Side deals ? I would like to hear about them. Seriously. No BS.





Red circled (pre 82) ?

Is that a Local agreement ?


Or, an original 22.2 job ?

(it has to be, based on the pay rate)


-Bug-

I am red circled, The FT are original 22.2 jobs. They are still being filled when old timers retire. One old timer is way past 70.

 

[BigUnionGuy]

I am red circled

As a part-timer ?

I thought you claimed "driver" status ?

The FT are original 22.2 jobs.

They would have to be.... based on the pay rate.

One old timer is way past 70.

And ?



-Bug-

 

[PT Car Washer]

As a part-timer ?

I thought you claimed "driver" status ?

I drive Saturday and exception air and occasionally help with ground deliveries and pick ups.

 

[Faceplanted]

lol at blaming the market!!! Come on man

Pension funds should not be invested to heavily into violtile stocks. That's mis management. They should be spread out over bonds, stocks that are steady such as s&p 500, foreign investments/currency's, and commodities. Eberything should be fairly low risk to basically just compensate for inflation.

To blame the market is a complete cop out. The union mis managed our funds and it's not acceptable. Anybody who took economics 101 could have done a better job than the crooked side deal making people in charge of my hard earned money.

 

[BigUnionGuy]

Anybody who took economics 101 could have done a better job than the crooked side deal making people in charge of my hard earned money.

Really ?

Eberything

I'll bet.... they know how to spell.

 

[Faceplanted]

I'll bet.... they know how to spell.

ill ask again, what would be any reason to have such a huge percentage of pension investments in high risk investments?

Oh I know!!!!trying to cover up and hide past mistakes that resulted in short comings before having to drop payouts.... but when you do they bad things can happen. Such as what did in the Great Recession.

Economics 101.

I don't trust my pension at all, these idiots have proven time and time again to not care about MY money that ups put in for ME as if it were theirs.

Pensions are Ponzi schemes just as social security is.

I should have my own personal pension account that should give a defaulted return of 1% at minimum a year as most cd accounts or bonds offer close to that as well as the option to dictate exactly where and how I want that money invested if I want to have it set up differently. Just like a 401k

I would be much happier with a simple 401k match

Instead idiots run the pensions, make side deals with people and screw over the working man.

One thing I noticed is when people get called out the easiest thing for them to do is turn into a grammar nazi, so I'm sure you'll find some more grammar errors in this reply.

 

[87brown]

1. The nerve of that guy to depend on the Pension that he had worked 30 years plus to receive and the union Took it it what a jerk
2. I say give us the money for our pension not the union I could manage it better than they do and I would have it at the end because remember if the union has it it's not your money