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UPS CUTS PART-TIME WORKERS PAY BY 1/3
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<blockquote data-quote="DELACROIX" data-source="post: 5186610" data-attributes="member: 49065"><p>It could be done similar to the Management's plans, they could give it a 5 year grace period but eventually they will quit contributing to those plans. The years already vested are currently protected by ERISA, they could combine the UPS Pension Plan current and previous participants into the IBT/UPS Pension plan that is limited to the Full Timers only, much like the Westerns'.</p><p></p><p>There are maybe only a handful of High Seniority Part timers that are still active nationwide, most went Full Time when the opportunity was negotiated. Our current part time seniority list are for the most part young members with less than 3 years in...and those are the ones we now consider as veterans.</p><p></p><p>Most of the Central and Southern full timers have vested years as part timers and those years are subject to a 6 % penalty for every year prior to age 65. It would be a nice carrot if the Company changed the rules on that penalty and increase monetary benefits for those part time years.</p></blockquote><p></p>
[QUOTE="DELACROIX, post: 5186610, member: 49065"] It could be done similar to the Management's plans, they could give it a 5 year grace period but eventually they will quit contributing to those plans. The years already vested are currently protected by ERISA, they could combine the UPS Pension Plan current and previous participants into the IBT/UPS Pension plan that is limited to the Full Timers only, much like the Westerns'. There are maybe only a handful of High Seniority Part timers that are still active nationwide, most went Full Time when the opportunity was negotiated. Our current part time seniority list are for the most part young members with less than 3 years in...and those are the ones we now consider as veterans. Most of the Central and Southern full timers have vested years as part timers and those years are subject to a 6 % penalty for every year prior to age 65. It would be a nice carrot if the Company changed the rules on that penalty and increase monetary benefits for those part time years. [/QUOTE]
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UPS CUTS PART-TIME WORKERS PAY BY 1/3
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