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Brown Cafe UPS Forum
UPS Union Issues
Western Pennsylvania April 6th VOTE
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<blockquote data-quote="stray" data-source="post: 4021514" data-attributes="member: 57407"><p>Thanks, brother. The money to offset the pension shortfall was greater on our first offer only because we were under a higher penalty at that time. Before we applied for a pension restructuring plan, it was required that our contribution increased by 6% each year. UPS' liability didn't cover that full amount, so in the past 5 years, we've lost $.66 from our annual raises and were scheduled to lose $2.41 over this contract's 5 years. Last fall, our Pension Board made that application which reduced the annual increase that was needed, now we are only looking at $.39 being above & beyond UPS's liability. The 3rd agreement places that additional liability on UPS to cover any & all pension shortfalls, as well as any additional money TeamCare may need in 2021 & 2022 (potentially $.40/hr). So, the short answer is no, they didn't ask for more than what was needed. However, a big part of the reason our multi-employer pension is in bad shape is that many of the other companies went under and UPS is the major funder of those orphan retirees.</p></blockquote><p></p>
[QUOTE="stray, post: 4021514, member: 57407"] Thanks, brother. The money to offset the pension shortfall was greater on our first offer only because we were under a higher penalty at that time. Before we applied for a pension restructuring plan, it was required that our contribution increased by 6% each year. UPS' liability didn't cover that full amount, so in the past 5 years, we've lost $.66 from our annual raises and were scheduled to lose $2.41 over this contract's 5 years. Last fall, our Pension Board made that application which reduced the annual increase that was needed, now we are only looking at $.39 being above & beyond UPS's liability. The 3rd agreement places that additional liability on UPS to cover any & all pension shortfalls, as well as any additional money TeamCare may need in 2021 & 2022 (potentially $.40/hr). So, the short answer is no, they didn't ask for more than what was needed. However, a big part of the reason our multi-employer pension is in bad shape is that many of the other companies went under and UPS is the major funder of those orphan retirees. [/QUOTE]
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