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UPS Union Issues
The New Contract And Future Pension Contributions: Are We Ok. Or Are We Robbing Peter To Pay Paul?
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<blockquote data-quote="DELACROIX" data-source="post: 5673878" data-attributes="member: 49065"><p>That Part time pension increase (65 dollars per service year) in Article 34 (Master) only applies to those who are hired after 2022, read it carefully.</p><p></p><p><strong>$ 65 X 35 = 2275…</strong></p><p></p><p>A lot of our senior part timers will see practically <strong>(no increases) when they retire under this TA.</strong></p><p></p><p>That claim about it rising 8 percent spread out over 5 years is a falsehood.</p><p></p><p>Another issue is for our full timers under the IBT/UPS Pension Plan that had vested credits with their part time service. <strong>(No improvements)</strong>..back in “97” the Company was offering <strong>50 dollars for every part time year</strong>. That in itself shows that those past part time vested years could be improved with this TA.</p><p></p><p>That often quoted 1000 increase will only apply to those who reach that service level of <strong>35 years full-time at the age of 55 or over. </strong>Considering most of those full timers already have 8 to 15 years before they went full time and I am not sure whether those previous part times years are included in order to reach that <strong>55 </strong>age formula.</p><p></p><p>The other formula listed for those past 60 went up <strong>from 175 to 185 per service year…</strong>over the next five years.</p></blockquote><p></p>
[QUOTE="DELACROIX, post: 5673878, member: 49065"] That Part time pension increase (65 dollars per service year) in Article 34 (Master) only applies to those who are hired after 2022, read it carefully. [B]$ 65 X 35 = 2275…[/B] A lot of our senior part timers will see practically [B](no increases) when they retire under this TA.[/B] That claim about it rising 8 percent spread out over 5 years is a falsehood. Another issue is for our full timers under the IBT/UPS Pension Plan that had vested credits with their part time service. [B](No improvements)[/B]..back in “97” the Company was offering [B]50 dollars for every part time year[/B]. That in itself shows that those past part time vested years could be improved with this TA. That often quoted 1000 increase will only apply to those who reach that service level of [B]35 years full-time at the age of 55 or over. [/B]Considering most of those full timers already have 8 to 15 years before they went full time and I am not sure whether those previous part times years are included in order to reach that [B]55 [/B]age formula. The other formula listed for those past 60 went up [B]from 175 to 185 per service year…[/B]over the next five years. [/QUOTE]
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The New Contract And Future Pension Contributions: Are We Ok. Or Are We Robbing Peter To Pay Paul?
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