Unified pensions

[finaddict]

All pensions to be combined into a jointly managed unified TeamPen retirement plan covering all 50 states and requiring a minimum 35yrs service and age 62 for full $2250 a month benefits. Benefit reduction from full amount for each year under 35 years. It's what's "fair".

 

[IVE GOTTA PACKAGE 4U]

It's not fair to those who have diverted some of their raises and out it into the pension plan.

 

[3 done 3 to go]

That's a vote of HELL NO!

 

[upschuck]

I'll be expecting more than twice that.

 

[3 done 3 to go]

That is a joke. There is no way in hell that is even a suggestion. I just went fromm 5500 to 3500 with 5 more yes of service. 35 yes for me at age 55. Now to 2500 to age 62. No one will ever retire

 

[Indecisi0n]

All pensions to be combined into a jointly managed unified TeamPen retirement plan covering all 50 states and requiring a minimum 35yrs service and age 62 for full $2250 a month benefits. Benefit reduction from full amount for each year under 35 years. It's what's "fair".

You are our savior !!!

 

[IVE GOTTA PACKAGE 4U]

That's a vote of HELL NO!

Amen

 

[PT Car Washer]

If this is what it takes to save the pension from total bankruptcy, I say the members would have no choice.

 

[wide load]

If this is what it takes to save the pension from total bankruptcy, I say the members would have no choice.

How would they even begin to implement that when some are in old world pensions while others are in hybrid plans? It will NEVER happen.

 

[DELACROIX]

All pensions to be combined into a jointly managed unified TeamPen retirement plan covering all 50 states and requiring a minimum 35yrs service and age 62 for full $2250 a month benefits. Benefit reduction from full amount for each year under 35 years. It's what's "fair".

Where are you coming from? That is currently the part-time pension benefit formula. The starting point for any benefit with the full time years should be equal to what current management with the same service years qualify for. The formula under the UPS Retirement plan is more or less equal to half their best last 5 years, conservatively 75,000 with full medical no monthly co-pays. Look at your 401K if you have one, that growth is happening to everybody's pension and health and welfare plans. The money is there, should not settle with just crumbs from the banquet that is going on. Start educating yourselves about how pension plans are run, vested ratios and such, a pension plan that is 100 percent vested will basically be able to pay their participants on just the interest. The company will make a killing this year on their pension interests this year, also consider that the company eliminating making payments for their management in 2023. Do not fall for that victim mentality that is so prevalent with our members.

 

[rod]

bend over---grab your ankles

 

[35years]

The OP has said that he would cross in a strike.
He has a fat 401k and wants everyone who is going to retire only on their pension to be thrown under the bus. This is the OP's wish, nothing more. He wants to take his full pension (29 years in) and have those who stay get the shaft.

Rod has received his fair share of pension pay out over the years and is bitter that he nearly had to take a pension cut. So he thinks all of us should also get the shaft.

If my pension goes belly up, I am not going to wish the same for others.

Why can't you guys be happy for others?

 

[BrownFlush]

This mentality is so over the top . Please tell me this is not a serious post .

 

[upschuck]

This mentality is so over the top . Please tell me this is not a serious post .

That would have to be voted on.

 

[upschuck]

@Bubblehead you saying that ups could change who manages the pension, and it not go to a vote? Why did the central region have to vote on it a couple of contracts ago? Why did ups pay a negotiated 6 billion dollars to get out?

Part of the 97 strike was about ups getting out of the teamster pension.

 

[Bubblehead]

@Bubblehead you saying that ups could change who manages the pension, and it not go to a vote? Why did the central region have to vote on it a couple of contracts ago? Why did ups pay a negotiated 6 billion dollars to get out?

Part of the 97 strike was about ups getting out of the teamster pension.

No, I must have hit the X by mistake?

Yes, any negotiated changes between the Company and Union in our pensions would have to be ratified by the membership....

....although I suppose we now know it could be "imposed" on us as well???

Pension reform however has also been redefined as of the ratification in late 2014 of the:

Kline-Miller Multiemployer Pension Reform Act of 2014 FAQs | Pension Benefit Guaranty Corporation

....and in that instance, we won't get a vote, but others will.

 

[35years]

The pension that replaced the central states pension is not a multi-player pension. So it would not be covered by the Kline-Miller bill.

Other teamsters pensions would.

 

[Coldworld]

This mentality is so over the top . Please tell me this is not a serious post .

He’s a mgt scrub.... the company is giving ie fools a new “special assignment “ to come on here and stir up the pot...it’s true, it’s DAMN true!!

 

[Jones]

All pensions to be combined into a jointly managed unified TeamPen retirement plan covering all 50 states and requiring a minimum 35yrs service and age 62 for full $2250 a month benefits. Benefit reduction from full amount for each year under 35 years. It's what's "fair".

You come around my building talking that trash and someone's gonna be looking for a rope....

 

[brown_trousers]

If this is what it takes to save the pension from total bankruptcy, I say the members would have no choice.

The pension wont go totally bankrupt, I'm sure members will still receive a reduced benefit.