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UPS/IBT pension funding
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<blockquote data-quote="DELACROIX" data-source="post: 4540575" data-attributes="member: 49065"><p>If our pension and health and welfare benefits are tied into our individual compensation per (Article 34, Master) weekly monetary contributions into those plans then why are there so many disparities with each one of those benefit plans across the nation?</p><p></p><p>I personally know of a recent Teamster member who retired at age 70 with over 50 full time years who will be getting just 2150 a month under a company controlled pension plan with the current union leadership's blessing. The question should be answered to what happen to his monetary contributions and why was he and others singled out? </p><p></p><p></p><p>I do not want to rob Peter to pay Paul with the Western's pension plan, you deserve to have a great pension and it should not be affected by other underfunded conferences. The problem I and many others have is those under the Central and Southern conferences will always maintain pension benefits considerably inferior than those in the Western and several other Teamster controlled pension plans just because of the potential future Central States collapse. The Company does not want anymore increase in benefits because they would be liable to cover additional costs associated with the Central defaulting with their actives and current retirees.</p></blockquote><p></p>
[QUOTE="DELACROIX, post: 4540575, member: 49065"] If our pension and health and welfare benefits are tied into our individual compensation per (Article 34, Master) weekly monetary contributions into those plans then why are there so many disparities with each one of those benefit plans across the nation? I personally know of a recent Teamster member who retired at age 70 with over 50 full time years who will be getting just 2150 a month under a company controlled pension plan with the current union leadership's blessing. The question should be answered to what happen to his monetary contributions and why was he and others singled out? I do not want to rob Peter to pay Paul with the Western's pension plan, you deserve to have a great pension and it should not be affected by other underfunded conferences. The problem I and many others have is those under the Central and Southern conferences will always maintain pension benefits considerably inferior than those in the Western and several other Teamster controlled pension plans just because of the potential future Central States collapse. The Company does not want anymore increase in benefits because they would be liable to cover additional costs associated with the Central defaulting with their actives and current retirees. [/QUOTE]
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