Upstate NY Pension Fund changes?

[UpstateNYUPSer(Ret)]

I will admit that I have never thought of my pension in that manner. It is hard to argue with your reasoning. I guess on the flip side one could argue that drivers who work every day may be better able to fully fund their 401k's or other retirement vehicles.

1000 hours for a year of pension credit is simply too low.

 

[Dragon]

1800 hours is one day off per week. If u need more than that retire.

I don't believe we hired anyone to work 4 days a week.....

 

[UpsYours]

You may believe that,and I understand coming from a manager at UPS I BELIEVE that you may have a warped way of noticing the way things are suppossed to be done.You know damn well that pension contributions per hour are a lot higher to make for a 15 to 30 year driver than what you call a cover driver that makes about half and hour for like 10 years...

 

[UpstateNYUPSer(Ret)]

You may believe that,and I understand coming from a manager at UPS I BELIEVE that you may have a warped way of noticing the way things are suppossed to be done.You know damn well that pension contributions per hour are a lot higher to make for a 15 to 30 year driver than what you call a cover driver that makes about half and hour for like 10 years...

Pension contributions are a flat hourly rate and are not based on hourly wage.

 

[UpsYours]

my bad .i stand corrected.

 

[User Name]

I have 23 years in with 7 more to go. I have not taken a dead day since my ex and I separated in 1996. Yes, there are mornings that I wake up and simply don't want to go in, but I get dressed and go in because that is what we are supposed to do. I know that I will have no problem making it to retirement.

As for your question----it doesn't matter how I answer it as you have already formed your opinion.[/QUOTE]


Probably has nothing to do with losing half of your pay..... I take dead days and still had over 1950 hrs for the year.

 

[Dragon]

Some of you need to get out a calculator and do the math. 48 weeks x 40 hrs = 1920hrs. Thats still 4 weeks off a year.

Now do you think you could work that much in a year to contribute to your pension?

 

[Ms.PacMan]

Oh - makes me wish there were extra pension credits for OT - maybe THAT would solve the OT abuse!

 

[804troublemaker]

Oh - makes me wish there were extra pension credits for OT - maybe THAT would solve the OT abuse!

UPS will probably cut all over time, if we had time and a half credit on overtime.

 

[swen]

Has anyone heard of any poss. changes to the upstate ny fund.Heard big changes coming .some say we are going toward what new England just did with UPS???

If your pension was/is part of a multi-employer pension fund...then most likely its a reference to your locals pulling out of that to a more stable UPS employee only pension, which by the way is the way it should be. I know thats happened in NE recently and to be honest...makes good financial sense. Nobody outside of UPS should be tapping your retirement fund.

 

[UpsYours]

I do agree with that .We are paying out pension monies to retirees from companies that no longer contribute to the fund. Ups employees need to get the money contributed from Ups before another ..Unfortunatly that is where we are these days.Multiemployer plans are a thing of the past.I'm just wondering when the Ny State fund is going to go into a Ups type fund.

 

[UpstateNYUPSer(Ret)]

UpsYours, I hope that our pension plan is taken over by UPS sooner than later. Our benefits will be secure and will not change.

I find one point ironic----all of you "Teamsters" who are so quick to throw your fellow "Teamsters" from other companies (YRC) under the bus in order to have a secure pension. Pulling out of the NYS Teamsters Pension Plan would be devastating to those employers still in the plan. That's OK---we got ours.

 

[happybob]

UpsYours, I hope that our pension plan is taken over by UPS sooner than later. Our benefits will be secure and will not change.

I find one point ironic----all of you "Teamsters" who are so quick to throw your fellow "Teamsters" from other companies (YRC) under the bus in order to have a secure pension. Pulling out of the NYS Teamsters Pension Plan would be devastating to those employers still in the plan. That's OK---we got ours.

Dave, You do understand that it was the Teamster Bosses that recommended this plan be passed in N.E., don't you? I would think if the Teamster Bosses thought it was going to be a good buy out, to protect the Teamster Pension Fund and contribute to a healthier fund for "thier" pensions that it wouldn't be thowing anyone under the bus. The other companies that are still solvent and "still in business" can also pull thier workers out of the Multi Employer Plan and into a Single Employer Plan. YRC? Are they even contributing to the plan now? How long do us UPS workers have to carry the deadweight? We didn't ask for this buy out, UPS did, and it was supported by the Teamster Bosses, many of which will be remaining in the Multi Employer Plan. The bonus to UPS is 10 years of not having to increase our contributions in the Single Employer Plan. We are giving up increases in the hourly distribution rate, something I thought shouldn't pass, so who's getting "thrown under the bus" We still havn't been told what happens to our pensions in ten years. Does the company underfund the new plan, try to take it over and give us less than what we would have received in the multiemployer plan? Still a lot of what ifs.

 

[beentheredonethat]

Dave, You do understand that it was the Teamster Bosses that recommended this plan be passed in N.E., don't you? I would think if the Teamster Bosses thought it was going to be a good buy out, to protect the Teamster Pension Fund and contribute to a healthier fund for "thier" pensions that it wouldn't be thowing anyone under the bus. The other companies that are still solvent and "still in business" can also pull thier workers out of the Multi Employer Plan and into a Single Employer Plan. YRC? Are they even contributing to the plan now? How long do us UPS workers have to carry the deadweight? We didn't ask for this buy out, UPS did, and it was supported by the Teamster Bosses, many of which will be remaining in the Multi Employer Plan. The bonus to UPS is 10 years of not having to increase our contributions in the Single Employer Plan. We are giving up increases in the hourly distribution rate, something I thought shouldn't pass, so who's getting "thrown under the bus" We still havn't been told what happens to our pensions in ten years. Does the company underfund the new plan, try to take it over and give us less than what we would have received in the multiemployer plan? Still a lot of what ifs.

The work stoppage of 97 was mainly about the pension fund. Regardless of what many say about the 10K 22.3 jobs. A lot of retirees and soon to be retirees would have been way better off if UPS moved you to a UPS only plan back then vs waiting til now.

 

[Catatonic]

UpsYours, I hope that our pension plan is taken over by UPS sooner than later. Our benefits will be secure and will not change.

I find one point ironic----all of you "Teamsters" who are so quick to throw your fellow "Teamsters" from other companies (YRC) under the bus in order to have a secure pension. Pulling out of the NYS Teamsters Pension Plan would be devastating to those employers still in the plan. That's OK---we got ours.

I think "friend* "That" Brotherhood" is the concise phrase.

 

[kingOFchester]

I think "friend* "That" Brotherhood" is the concise phrase.

I think friend* humanity is the concise feeling of most people of this era. Sad.

 

[pretender]

I think "friend* "That" Brotherhood" is the concise phrase.

That make more sense to me--Otherwise, I am not sure if he is agreeing or being sarcastic...

 

[UpstateNYUPSer(Ret)]

I was being sarcastic.

 

[pretender]

I was being sarcastic.

I find it ironic also--there are people who are all for socialistic ideas as long they think someone else is going to pay for it...

 

[UpsYours]

Haven`t heard any comments on this in a while.Hearing from some that talks are getting heated at the negotiation table.With the 9.5 language and the retirees insurance bump.Anything out there about the pension fund ?