UPS, Teamsters to Restructure New England Pension Plan

The only one I have heard is the possible impact it may have on your Social Security benefits.






Will my retirement pension reduce the amount of my Social Security benefit?

If your pension is from work where you paid Social Security taxes, it will not affect the amount of your Social Security benefit. However, if any part of your pension is from work where you did not pay Social Security taxes, it could affect the amount of your Social Security benefit.
A pension based on work that is not covered by Social Security (for example, Federal civil service and some State or local government agencies, such as police officers and some teachers) may cause the amount of your Social Security benefit to be reduced.How pensions affect your Social Security benefit
 

UPSGUY72

Well-Known Member
Will my retirement pension reduce the amount of my Social Security benefit?

If your pension is from work where you paid Social Security taxes, it will not affect the amount of your Social Security benefit. However, if any part of your pension is from work where you did not pay Social Security taxes, it could affect the amount of your Social Security benefit.
A pension based on work that is not covered by Social Security (for example, Federal civil service and some State or local government agencies, such as police officers and some teachers) may cause the amount of your Social Security benefit to be reduced.How pensions affect your Social Security benefit

Most state employees that have a pension don't pay into social security thus they aren't going to be able to collect much if anything....
 

OVERBOARD

Don't believe everything you think
My local has posted the date and time to discuss the pension, My problem is that the meeting is schedule for Saturday Sept 16. according to the article on UPS is says" the withdrawal will be effective Sept. 16, 2012". I'm wondering when other local are having there meeting.
 

NHDRVR

Well-Known Member
My local has posted the date and time to discuss the pension, My problem is that the meeting is schedule for Saturday Sept 16. according to the article on UPS is says" the withdrawal will be effective Sept. 16, 2012". I'm wondering when other local are having there meeting.

A few of the guys in our center are concerned with any 'grandfathering' which, only rumors of course, may affect the pension amounts they thought they were going to get. I hope our local distributes hard information to the drivers. IMO the next 5 years are going to be ripe with turnover which is all UPS wants anyways...
 

BMWMC

B.C. boohoo buster.
I went to meeting and still don't understand what's the real deal is. Probably because no documents outlining details were provided. Its all about cloud computing now. Try and figure out whats its going to mean for your retirement is all in a fogg.

"Nothing is changing in your benefits " yet we had to vote TODAY cause times running out. When it comes to hundreds of billions of dollars to vote on without a scrap of paper to review it definitely sounds fishy.

Look for more shoes to drop when UPS's lock up period of 10 years are up.
 

Catatonic

Nine Lives
I went to meeting and still don't understand what's the real deal is. Probably because no documents outlining details were provided. Its all about cloud computing now. Try and figure out whats its going to mean for your retirement is all in a fogg.

"Nothing is changing in your benefits " yet we had to vote TODAY cause times running out. When it comes to hundreds of billions of dollars to vote on without a scrap of paper to review it definitely sounds fishy.

Look for more shoes to drop when UPS's lock up period of 10 years are up.

Nancy Pelosi the head of your local?

Vote yes to see what's in it?

Seems to be a trend.
 
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