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UPS Teamsters National Master Contract 2023
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<blockquote data-quote="DELACROIX" data-source="post: 5421046" data-attributes="member: 49065"><p>So True..They have been paying over the contractual starting rate since the pandemic started just to get bodies. An increase in the starting rate is a given more so for the our starting full time positions.</p><p></p><p>GWI will probably start out at a dollar with COLA still in place and go up 50 cents more annually.</p><p></p><p>Health and Welfare contributions might remain the same depending on how the Health Market raises their rates. generally those are raised 20 dollars a week or .50 per hour for a straight 40 hour workweek..Overtime not included.</p><p></p><p>Pensions will change..that is the real battle..expect the Company to eliminate the Part Time Pension benefit in the Central and Southern and replace it with the portable matched 401K..that might sell. Those Teamsters under a Monetary Contribution plan like the West will continue to accrue benefits, they have to be close to 100 % vested even with the downturn of our stock markets, bonds and annuities. That bail out of primarily the Central States Fund was heavily lobbied by the Company and Union, it looks like that is a done deal. What kind of strings are attached we will see, but definitely the Feds will be overseeing the running of these underfunded pension trusts.</p><p></p><p>Really the only way that the Company can decrease operating costs is with the Pension contributions, maybe reduce the raises with their monetary contributions for those plans that are doing well. All three the GWI, Health and Welfare and Pension are interchangeable, so any monetary contributions can be transferred annually to either one. The past formula for hourly increases has been pretty much the same for the most part..80 cents to a dollar for <strong>(GWI)</strong>...50 cents for <strong>(Health and Welfare)...</strong>and another 50 cents toward <strong>(Pension Contributions).</strong></p><p><strong></strong></p><p><strong>Where these Pension Contributions are being distributed is another issue considering we have members that haven't had pension increases for decades?</strong></p></blockquote><p></p>
[QUOTE="DELACROIX, post: 5421046, member: 49065"] So True..They have been paying over the contractual starting rate since the pandemic started just to get bodies. An increase in the starting rate is a given more so for the our starting full time positions. GWI will probably start out at a dollar with COLA still in place and go up 50 cents more annually. Health and Welfare contributions might remain the same depending on how the Health Market raises their rates. generally those are raised 20 dollars a week or .50 per hour for a straight 40 hour workweek..Overtime not included. Pensions will change..that is the real battle..expect the Company to eliminate the Part Time Pension benefit in the Central and Southern and replace it with the portable matched 401K..that might sell. Those Teamsters under a Monetary Contribution plan like the West will continue to accrue benefits, they have to be close to 100 % vested even with the downturn of our stock markets, bonds and annuities. That bail out of primarily the Central States Fund was heavily lobbied by the Company and Union, it looks like that is a done deal. What kind of strings are attached we will see, but definitely the Feds will be overseeing the running of these underfunded pension trusts. Really the only way that the Company can decrease operating costs is with the Pension contributions, maybe reduce the raises with their monetary contributions for those plans that are doing well. All three the GWI, Health and Welfare and Pension are interchangeable, so any monetary contributions can be transferred annually to either one. The past formula for hourly increases has been pretty much the same for the most part..80 cents to a dollar for [B](GWI)[/B]...50 cents for [B](Health and Welfare)...[/B]and another 50 cents toward [B](Pension Contributions). Where these Pension Contributions are being distributed is another issue considering we have members that haven't had pension increases for decades?[/B] [/QUOTE]
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