The New Contract And Future Pension Contributions: Are We Ok. Or Are We Robbing Peter To Pay Paul?

[Wally]

Too much raise at the expense of pension health?

UPS-Teamsters deal freezes pension contribution increases for most plans

The pension freezes are a massive concession to the company, potentially worth tens of millions or even hundreds of millions of dollars.

www.wsws.org

 

[Thebrownblob]

Too much raise at the expense of pension health?

UPS-Teamsters deal freezes pension contribution increases for most plans

The pension freezes are a massive concession to the company, potentially worth tens of millions or even hundreds of millions of dollars.

www.wsws.org

World socialist website? I feel comfortable saying whatever they say is slanted, twisted nonsense.

 

[Wally]

World socialist website? I feel comfortable saying whatever they say is slanted, twisted nonsense.

Maybe, but are the numbers enough for a healthy pension? Healthcare costs could eat into those dollars. We have seen mistakes in the past destroy pensions.

 

[Thebrownblob]

Maybe, but are the numbers enough for a healthy pension? Healthcare costs could eat into those dollars. We have seen mistakes in the past destroy pensions.

View attachment 441003

Maybe, but I’m not an actuary. And I believe you were the one who thought Teamcare having such a healthy reserve of funds was a problem?

Voting no is your right. Will that fix the problem? Idk

After reading that article, I doubt you agree with 90% of what they said.

 

[Wally]

Maybe, but I’m not an actuary. And I believe you were the one who thought Teamcare having such a healthy reserve of funds was a problem?

Voting no is your right. Will that fix the problem? Idk

Not every local is in Teamcare and would TC eat up reserve first instead of jacking up rates?

Like you said, the number crunchers can give a better idea if the proposed funding is enough. The two being lumped together complicates matters. Most younger voters will see the raise only and be an automatic yes vote. Will they be ok come retirement down the road?

 

[oldngray]

Not every local is in Teamcare and would TC eat up reserve first instead of jacking up rates?

Like you said, the number crunchers can give a better idea if the proposed funding is enough. The two being lumped together complicates matters. Most younger voters will see the raise only and be an automatic yes vote. Will they be ok come retirement down the road?

My local isn't in Teamcare. Still in UPS/Aetna. Coverage was changed slightly for the worse to mostly mirror Teamcare.

 

[Thebrownblob]

Not every local is in Teamcare and would TC eat up reserve first instead of jacking up rates?

Like you said, the number crunchers can give a better idea if the proposed funding is enough. The two being lumped together complicates matters. Most younger voters will see the raise only and be an automatic yes vote. Will they be ok come retirement down the road?

I don’t know every fund. I don’t think they share. A contract is only five years. I am sure they will reevaluate in 2028 should this contract pass.

I believe Your concern is legitimate, I never want to have to sit in another meeting with a bunch of frightened retirees who busted their ass, their whole life, played by the rules and did the right thing, being told they might not have a secure retirement after all.

 

[Up In Smoke]

The H/W and pension funds that were deemed secure (green)are receiving about 1/2 per employee of those locals with substandard funding levels. It's going to have an impact on how the dollars are split and future increases. Definitely a concession.

 

[DELACROIX]

Not every local is in Teamcare and would TC eat up reserve first instead of jacking up rates?

Like you said, the number crunchers can give a better idea if the proposed funding is enough. The two being lumped together complicates matters. Most younger voters will see the raise only and be an automatic yes vote. Will they be ok come retirement down the road?

Does anyone remember the excessive tax of 40 percent on these so-called Cadillac Health and Welfare Plans during the Obama years. Trump froze it for a couple of years, but I believe it is still in effect.

The threshold is 11,000 per individual and 30,000 for a family plan as of 2022. My best estimate is that Team Care is getting monetary contributions over 25,000 annually from UPS and other employers for every full time member and slightly less for the part timers.

That 20 dollar a week increase under this TA will only improve their already high reserves. There is no way that Team care will cry poor, if our healthcare premiums ever go that high the whole economy will start to collapse. Just look at the massive expansion in our healthcare infrastructures, some of these Hospitals in my area are building huge multimillion complexes the money is coming from somewhere.

 

[Up In Smoke]

Does anyone remember the excessive tax of 40 percent on these so-called Cadillac Health and Welfare Plans during the Obama years. Trump froze it for a couple of years, but I believe it is still in effect.

The threshold is 11,000 per individual and 30,000 for a family plan as of 2022. My best estimate is that Team Care is getting monetary contributions over 25,000 annually from UPS and other employers for every full time member and slightly less for the part timers.

That 20 dollar a week increase under this TA will only improve their already high reserves. There is no way that Team care will cry poor, if our healthcare premiums ever go that high the whole economy will start to collapse. Just look at the massive expansion in our healthcare infrastructures, some of these Hospitals in my area are building huge multimillion complexes the money is coming from somewhere.

The vast majority of hospitals are either government (University) or Not For Profit. They are allowed to only have so much money in the coffers, so they need to donate it or spend it.

 

[Wally]

The H/W and pension funds that were deemed secure (green)are receiving about 1/2 per employee of those locals with substandard funding levels. It's going to have an impact on how the dollars are split and future increases. Definitely a concession.

Sooner or later pension freezing will happen if enough isn't added. Sucks to be you when your retirement time comes and increases do not keep pace with inflation.

 

[DELACROIX]

Sooner or later pension freezing will happen if enough isn't added. Sucks to be you when your retirement time comes and increases do not keep pace with inflation.

That is why we needed a COLA added to (ALL) our pension plans. For our future and current retirees…

Again … it didn’t happen…

 

[542thruNthru]

@Wally Youre out of your mind! I was told by all the OZ supporters how Sean wouldn’t come for the western region pension... no way those guys would support him after that! Oh, well I guess if it was money going to them that might change things.

 

[Thebrownblob]

@Wally Youre out of your mind! I was told by all the OZ supporters how Sean wouldn’t come for the western region pension... no way those guys would support him after that! Oh, well I guess if it was money going to them that might change things.

Send it back with a NO vote. Although I don’t know that the power slate was the right answer either. Both of the top guys on that ticket are currently out of the organization altogether. One guy retired, and one guy got taken out by the #MeTooMovement. I knew people on both sides and thought they were good people on each.

 

[Wally]

The only question to ask now before we vote is: are negotiated pension contributions enough?

 

[Just A UPS Guy]

The only question to ask now before we vote is: are negotiated pension contributions enough?

They are if they get reliable, consistent increases each year.

 

[Wally]

They are if they get reliable, consistent increases each year.

I'm sure the union has cost projections? Everything has gone up but the same .50 is ok?

 

[542thruNthru]

Send it back with a NO vote. Although I don’t know that the power slate was the right answer either. Both of the top guys on that ticket are currently out of the organization altogether. One guy retired, and one guy got taken out by the #MeTooMovement. I knew people on both sides and thought they were good people on each.

Seems non of them were the right choice as always. I just like pointing our how much people back their politicians then they turn around and do what you said they wouldn't. Yet some how you feel committed now so they continue to back then like a losing sports teams or something.

I mean we in the west are being told everything from, we are the reason 22.4s are gone and wages are the highest ever to yes we moved things around because you don't need it like they do. That's not internet gossip either. That's from trustees and national negotiation committee members.

So my question is did Sean actually stick it to UPS or did he just shuffle the money around to make it look like he did? I just get angry stares and finger pointing when I ask that. I'm sure someone would have asked at the 2 man committee but apparently only 5 questions were allowed until someone jumped up and said "I MAKE A MOTION TO ACCEPT THIS HISTORIC CONTRACT!!"

 

[Thebrownblob]

Seems non of them were the right choice as always. I just like pointing our how much people back their politicians then they turn around and do what you said they wouldn't. Yet some how you feel committed now so they continue to back then like a losing sports teams or something.

I mean we in the west are being told everything from, we are the reason 22.4s are gone and wages are the highest ever to yes we moved things around because you don't need it like they do. That's not internet gossip either. That's from trustees and national negotiation committee members.

So my question is did Sean actually stick it to UPS or did he just shuffle the money around to make it look like he did? I just get angry stares and finger pointing when I ask that. I'm sure someone would have asked at the 2 man committee but apparently only 5 questions were allowed until someone jumped up and said "I MAKE A MOTION TO ACCEPT THIS HISTORIC CONTRACT!!"

Valid questions, I’ve also asked questions that it seems I’m not supposed to ask get those kind of looks.

 

[Just A UPS Guy]

I'm sure the union has cost projections? Everything has gone up but the same .50 is ok?

Part of my "wants/needs" was an increase from $.50/hr/year to $.75/hr/year.

Instead, I get $.25/hr for the first year and Jack the next four, so what do I know?