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UPS Union Issues
"To all UPS Employees concerned about their pensions & Benefits" !!!!!!
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<blockquote data-quote="wkmac" data-source="post: 121104" data-attributes="member: 2189"><p>I think it is very important to point out that the figures given for APWA retirement payouts are for only folks who complete a 30 year term under their plan. If you currently have 15 years with Central States and then switch to APWA and work another 15 years expecting the big payout, you are in for a rude awaking. You will recieve a pro-rated payout for your 15 years which last time I saw would be itself about $3k per month but for the other 15 years service you would have to go back to Central States and qualify under their current rules which by then you may have to be 65 or even 70 years old. It's already been changed once and could be changed again and not in the direction many of us would like.</p><p> </p><p>APWA has no plan at all to allow for prior years to be carried over for credit so whatever years you now have under CS or other IBT plan will stay there. Although I have 25 FT years under IBT CS, because of my age I do like the possibility under the APWA. Where I differ is how they advertise the pension such as the example above and it tends to mislead IMO. IBT does the same thing all the time as an example would be the lastest pension changes that took place over the summer and then described in the CS Quarterly publication entitled TeamWork. </p><p> </p><p>I really think APWA should be upfront and above board on this specific issue but like the example above they don't and I think it's ashame. By being upfront and honest, not only would that demonstrate to all that even in bad news you get the straight scoop but it also opens up a potential dialogue that in this manner a broader solution could be found that would make a transition for 20 plus year IBT folks over to an APWA system more appealing. I think for many with 15 plus years in and even moreso for those with 20 or more, if you solve the pension as it relates to past years credit, APWA would really rocket forward in mass appeal at UPS. Teamsters knew exactly what they were doing in demanding control of Health and Welfare from the get go!</p><p> </p><p>JMO.</p></blockquote><p></p>
[QUOTE="wkmac, post: 121104, member: 2189"] I think it is very important to point out that the figures given for APWA retirement payouts are for only folks who complete a 30 year term under their plan. If you currently have 15 years with Central States and then switch to APWA and work another 15 years expecting the big payout, you are in for a rude awaking. You will recieve a pro-rated payout for your 15 years which last time I saw would be itself about $3k per month but for the other 15 years service you would have to go back to Central States and qualify under their current rules which by then you may have to be 65 or even 70 years old. It's already been changed once and could be changed again and not in the direction many of us would like. APWA has no plan at all to allow for prior years to be carried over for credit so whatever years you now have under CS or other IBT plan will stay there. Although I have 25 FT years under IBT CS, because of my age I do like the possibility under the APWA. Where I differ is how they advertise the pension such as the example above and it tends to mislead IMO. IBT does the same thing all the time as an example would be the lastest pension changes that took place over the summer and then described in the CS Quarterly publication entitled TeamWork. I really think APWA should be upfront and above board on this specific issue but like the example above they don't and I think it's ashame. By being upfront and honest, not only would that demonstrate to all that even in bad news you get the straight scoop but it also opens up a potential dialogue that in this manner a broader solution could be found that would make a transition for 20 plus year IBT folks over to an APWA system more appealing. I think for many with 15 plus years in and even moreso for those with 20 or more, if you solve the pension as it relates to past years credit, APWA would really rocket forward in mass appeal at UPS. Teamsters knew exactly what they were doing in demanding control of Health and Welfare from the get go! JMO. [/QUOTE]
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