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Brown Cafe UPS Forum
UPS Union Issues
UPS/IBT PENSION SLASHED?
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<blockquote data-quote="35years" data-source="post: 3997087" data-attributes="member: 60822"><p>I visited the retirement calculator.</p><p></p><p>Funny thing happened when I ran the calculator...</p><p></p><p>Year Svc Credit MthlyAmt Accrual</p><p>2016 1.00000 170.00 170.00</p><p>2017 1.00000 170.00 170.00</p><p>2018 1.00000 175.00 175.00</p><p>2019 0.58333 175.00 102.08</p><p>2020 0.58333 175.00 102.08</p><p>2021 0.58333 175.00 102.08</p><p>2022 0.58333 175.00 102.08</p><p>2023 0.58333 175.00 102.08</p><p></p><p>Why does the Svc Credit no longer equal 1.0 starting in 2019?</p><p>Do we only get partial (58%) (7 months each year) credit towards our pension under the new agreement?</p><p></p><p>Running the same calculator prior to the new tentative agreement showed a service credit of 1.0 for every past and future year...$175 Accrual 2019-2023</p><p></p><p>Now it shows .58333 credit for a $102.08 Accrual</p><p></p><p>Are we only going to get 7 months of credit for working 12 months under the new contract???????????</p><p></p><p>This is for an <strong>accrual pension</strong> IBT/UPS (old Central States replacement)</p><p></p><p>If so, I lose $365 a month, $4380 a year for the rest of my life.</p><p></p><p>Guys who retire later than 2023 would lose even more.</p></blockquote><p></p>
[QUOTE="35years, post: 3997087, member: 60822"] I visited the retirement calculator. Funny thing happened when I ran the calculator... Year Svc Credit MthlyAmt Accrual 2016 1.00000 170.00 170.00 2017 1.00000 170.00 170.00 2018 1.00000 175.00 175.00 2019 0.58333 175.00 102.08 2020 0.58333 175.00 102.08 2021 0.58333 175.00 102.08 2022 0.58333 175.00 102.08 2023 0.58333 175.00 102.08 Why does the Svc Credit no longer equal 1.0 starting in 2019? Do we only get partial (58%) (7 months each year) credit towards our pension under the new agreement? Running the same calculator prior to the new tentative agreement showed a service credit of 1.0 for every past and future year...$175 Accrual 2019-2023 Now it shows .58333 credit for a $102.08 Accrual Are we only going to get 7 months of credit for working 12 months under the new contract??????????? This is for an [B]accrual pension[/B] IBT/UPS (old Central States replacement) If so, I lose $365 a month, $4380 a year for the rest of my life. Guys who retire later than 2023 would lose even more. [/QUOTE]
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UPS/IBT PENSION SLASHED?
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