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UPS Union Issues
Unified pensions
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<blockquote data-quote="DELACROIX" data-source="post: 3337947" data-attributes="member: 49065"><p>Especially during the a contract year you can just feel the brotherly love and trust among us Brothers and Partners. A defined pension plan does get a monetary contribution it is at the end of the year according to how much it takes to cover the benefits promised. The UPS Retirement Plan (management) and Pension plan (Part time union) are defined benefit plans, they do apparently have limits to vesting and service years and a locked amount that it will not go up no matter how many years you work. The monetary contribution plan (most teamster's plans) will go up or down according to their investments and is subject to article 34 weekly funding. By the way does anybody know just how much weekly pension contributions are going into a full time participant? I know that the Health and Welfare weekly monetary contribution from the company is about 430.</p></blockquote><p></p>
[QUOTE="DELACROIX, post: 3337947, member: 49065"] Especially during the a contract year you can just feel the brotherly love and trust among us Brothers and Partners. A defined pension plan does get a monetary contribution it is at the end of the year according to how much it takes to cover the benefits promised. The UPS Retirement Plan (management) and Pension plan (Part time union) are defined benefit plans, they do apparently have limits to vesting and service years and a locked amount that it will not go up no matter how many years you work. The monetary contribution plan (most teamster's plans) will go up or down according to their investments and is subject to article 34 weekly funding. By the way does anybody know just how much weekly pension contributions are going into a full time participant? I know that the Health and Welfare weekly monetary contribution from the company is about 430. [/QUOTE]
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