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Brown Cafe UPS Forum
UPS Retirement Topics
UPS subsidizing non ups pensions
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<blockquote data-quote="yourfinallygettingit" data-source="post: 114635"><p>I didn't read your whole message, but to answer your question, UPS pays for all living Teamsters, regardless of who they worked for. The reason you are paying, which would be a problem otherwise, is that the union rules wouldn't ever exclude old debts, which, by the way, they don't have the money to cover. </p><p></p><p>In fact, they don't have the money to cover your retirement. Your current contributions are going to someone who retired from a long-expired company with long-ago teamster representation. </p><p></p><p>This is very much like the social security situation in our current. The main, and most important, difference is that the government can levy new taxes to pay for their screw-up. The teamster can only choke otherwise healthy companies until they croak.</p><p></p><p>There are hundred of companies that don't exist, but your contributions pay for your IBT brother's retirement. It is a shame that you don't pay much less and get much more benefit by only paying into a Brotherhood of UPS Teamsters fund.</p><p></p><p>Believe it or not, UPS was trying to get to this point during the contract that led to the strike. UPS may have went to far by saying that THEY would management the funds. However, the real reason they wanted to do this is that they are bleeding to the teamsters for people not on their retirement roles, and that UPS does not trust that the Teamsters would management your money properly, even if the Teamsters created a UPS-only fund.</p><p></p><p>I am glad you guys are starting to look at this. During your next contact, you would do well to see both sides as screwing you, and then pit them against each other for your best interest.</p></blockquote><p></p>
[QUOTE="yourfinallygettingit, post: 114635"] I didn't read your whole message, but to answer your question, UPS pays for all living Teamsters, regardless of who they worked for. The reason you are paying, which would be a problem otherwise, is that the union rules wouldn't ever exclude old debts, which, by the way, they don't have the money to cover. In fact, they don't have the money to cover your retirement. Your current contributions are going to someone who retired from a long-expired company with long-ago teamster representation. This is very much like the social security situation in our current. The main, and most important, difference is that the government can levy new taxes to pay for their screw-up. The teamster can only choke otherwise healthy companies until they croak. There are hundred of companies that don't exist, but your contributions pay for your IBT brother's retirement. It is a shame that you don't pay much less and get much more benefit by only paying into a Brotherhood of UPS Teamsters fund. Believe it or not, UPS was trying to get to this point during the contract that led to the strike. UPS may have went to far by saying that THEY would management the funds. However, the real reason they wanted to do this is that they are bleeding to the teamsters for people not on their retirement roles, and that UPS does not trust that the Teamsters would management your money properly, even if the Teamsters created a UPS-only fund. I am glad you guys are starting to look at this. During your next contact, you would do well to see both sides as screwing you, and then pit them against each other for your best interest. [/QUOTE]
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