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UPS subsidizing non ups pensions
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<blockquote data-quote="Cezanne" data-source="post: 133771" data-attributes="member: 5104"><p>Truth is that most of us will never be able to get the whole inside story with the current underfunding. Best we can do is piece events from the past and throw out conjectures or theories. As wkmac stated most of us with any amount of time at UPS had the hope of seeing the light at the end of tunnel with the 25 and 30 year any age retirement. Not like we would retire millionaires like some of our management counterparts, but we could go into another career that would not be so taxing on our bodies and enjoy time with our family. Now most of us show up to work trying to place it as safe as possible and pace ourselves with the prospect of working past 60. For the veterans those days of busting your butt to make your manager make more stock bonuses are over, it is a matter of survival now. Many of us have seen the attrition of our workforce forced out due to permanent disability. Considering the physical demands of any UPS UNION job position, most of us go to work with our aches and pains and hope it will not be the big one that will end our careers. Even if we are playing it safe today, consider the abuses and stress that our bodies have taken over the decades. </p><p> </p><p>Is anybody concerned? Afraid that we are between a rock and a hard place with this pension issue. The union run plans' trustees only concern is to keep money from going out of their funds, therefore no more future early retirees. Look in the headlines today, companies are screaming about health coverages for their employees and retirees, most of the show downs recently with unions and companies are over health costs for their employees. Believe that medicad/medicare goes into effect at 65 or 62, again the savings in not provided coverages for early retirees is a big consideration when these trustees get together. If we are relying on the union to negotiate improvements that will in the long run hurt their interests, think again. No need to explain the company's run on this if you have worked long enought to be concerned with retirement over the next contract. </p><p> </p><p>Maybe there is some hope with the early negotiations going on. There is alot of creative ways that pension and benefit plans can adjust their requirements for a possible early out option (at least a 30 year one). One problem in the central states fund is the beginnng ages of the UPS full time participants, most of us started in that plan in our early or mid thirties. Imagine that most of the new participants in that are coming from the combo or inside full time positions with UPS, just looking around at most of them in my building they are 40 years of age or over. The perfect scenario would be for these participants to be in their early 20's for investment possibilities, do not see this happening till us old foggies start leaving. Can really be a win-win situation for both the company and union if smart people put some real creative effort into this problem, with the fear of old school thinking and greed coming into play.</p></blockquote><p></p>
[QUOTE="Cezanne, post: 133771, member: 5104"] Truth is that most of us will never be able to get the whole inside story with the current underfunding. Best we can do is piece events from the past and throw out conjectures or theories. As wkmac stated most of us with any amount of time at UPS had the hope of seeing the light at the end of tunnel with the 25 and 30 year any age retirement. Not like we would retire millionaires like some of our management counterparts, but we could go into another career that would not be so taxing on our bodies and enjoy time with our family. Now most of us show up to work trying to place it as safe as possible and pace ourselves with the prospect of working past 60. For the veterans those days of busting your butt to make your manager make more stock bonuses are over, it is a matter of survival now. Many of us have seen the attrition of our workforce forced out due to permanent disability. Considering the physical demands of any UPS UNION job position, most of us go to work with our aches and pains and hope it will not be the big one that will end our careers. Even if we are playing it safe today, consider the abuses and stress that our bodies have taken over the decades. Is anybody concerned? Afraid that we are between a rock and a hard place with this pension issue. The union run plans' trustees only concern is to keep money from going out of their funds, therefore no more future early retirees. Look in the headlines today, companies are screaming about health coverages for their employees and retirees, most of the show downs recently with unions and companies are over health costs for their employees. Believe that medicad/medicare goes into effect at 65 or 62, again the savings in not provided coverages for early retirees is a big consideration when these trustees get together. If we are relying on the union to negotiate improvements that will in the long run hurt their interests, think again. No need to explain the company's run on this if you have worked long enought to be concerned with retirement over the next contract. Maybe there is some hope with the early negotiations going on. There is alot of creative ways that pension and benefit plans can adjust their requirements for a possible early out option (at least a 30 year one). One problem in the central states fund is the beginnng ages of the UPS full time participants, most of us started in that plan in our early or mid thirties. Imagine that most of the new participants in that are coming from the combo or inside full time positions with UPS, just looking around at most of them in my building they are 40 years of age or over. The perfect scenario would be for these participants to be in their early 20's for investment possibilities, do not see this happening till us old foggies start leaving. Can really be a win-win situation for both the company and union if smart people put some real creative effort into this problem, with the fear of old school thinking and greed coming into play. [/QUOTE]
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