UPS to freeze pension plans for nonunion staffers

upschuck

Well-Known Member
Going on 30 years. Thought I would be working many more but now thinking I should get out before next contract! BTW, why does the pension estimator on Upser`s still show a pension of $4700 and $5600 if working longer when it appears to max out at $3400 no matter on how long you work.....?
That happened to me when using the single scenario calculation, but when used the multiple calculation scenarios, it seemed correct.

Said if I retired at 62 I'd have over $5400, and at 70, $4600. Obviously not right.
 

LeadBelly

Banned
Going on 30 years. Thought I would be working many more but now thinking I should get out before next contract! BTW, why does the pension estimator on Upser`s still show a pension of $4700 and $5600 if working longer when it appears to max out at $3400 no matter on how long you work.....?
Dude I love your avatar and name. I realize you have been around for ever, but I always wanted to tell you this.
 

Raw

Raw Member
That happened to me when using the single scenario calculation, but when used the multiple calculation scenarios, it seemed correct.

Said if I retired at 62 I'd have over $5400, and at 70, $4600. Obviously not right.
Except I think no matter how long we work we are maxed out at $3400....
 

35years

Gravy route
The pension in the Central is calculated 2 ways...

There is a 30 or 35 and out capped at I believe $3,900.

There is a second calculation that does not have a cap, however it is reduced by 6% a year for each year you are younger than 62. It is based on the number of years worked.

You will receive the greater of the two calculations.

So, at least here, over $5,000 a month at age 62 is entirely possible.
 

twoweeled

Well-Known Member
UPS ups CEO compensation again in 2016 | News | American Shipper
2016
UPS Inc. Chief Executive Officer David Abney’s pay grew another 21 percent for the year after a 35 percent raise in 2015... Overall, Abney’s compensation for the year grew to $13.7 million

In addition, the company gave raises to Chief Financial Officer Richard N. Peretz, Chief Commercial Officer Alan Gershenhorn, UPS International President James J. Barber, Jr., and President of U.S. Operations Myron A. Gray "in order to improve the competitiveness of UPS executive compensation,” it said in the Form 14A filing.
UPS in January posted disappointing fourth quarter and full-year 2016 results, reporting a a net loss of $239 million ($0.27 per share) for the quarter. For the full year in 2016, UPS saw net income tumble 29.2 percent year-over-year to $3.4 billion on revenues that grew 4.4 percent to $60.9 billion.

Compensation Information for James J. Barber Jr., President, UPS International of UNITED PARCEL SERVICE INC | Salary.com
As President, UPS International at UNITED PARCEL SERVICE INC, James J. Barber Jr. made $3,817,779 in total compensation. Of this total $500,706 was received as a salary, $158,384 was received as a bonus,$251,731 was received in stock options, $2,879,564 was awarded as stock and $27,394 came from other types of compensation

As Chief Financial Officer at UNITED PARCEL SERVICE INC, Richard N. Peretz made $3,666,533 in total compensation. Of this total $485,070 was received as a salary, $146,034 was received as a bonus, $246,812was received in stock options, $2,766,672 was awarded as stock and $21,945 came from other types of compensation.

As Chief Commercial Officer at UNITED PARCEL SERVICE INC, Alan Gershenhorn made $4,588,528 in total compensation. Of this total $565,956 was received as a salary, $183,731 was received as a bonus, $276,065was received in stock options, $3,530,073 was awarded as stock and $32,703 came from other types of compensation.

As President, U.S. Operations at UNITED PARCEL SERVICE INC, Myron A. Gray made $3,939,326 in total compensation. Of this total $514,509 was received as a salary, $148,495 was received as a bonus, $256,182was received in stock options, $2,979,788 was awarded as stock and $40,352 came from other types of compensation.
Judging by all this info, the next contract negotiation is going to be real TUFF. They have to validate their compensation. Guess how they do that.
 
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