What's your number one thing

[Dfigtree]

For all the crap we dish out about UPS, we get great benefits (yeh, like almost everyone else we have to pay a little bit), we get a pension (if you hang in there long enough), we get an investment (not so hot lately but you could do worse), and basically enjoy ourself for 25-30 years. Well, maybe I stretched the truth a little bit with the last one. So, with all this good stuff being provided, I am wondering what financial issues UPS employees have?

Anyone, maybe PEACOCK, want to take the challenge of answering that one?

 

[25yrvet]

I want to retire EARLY ( Not from work, just from ups); but I worry about health insurance. I'm 45 now & have heard that I need to be 50 to have retirement health ins available to me. Spouse has ins through her work, but like nearly every other, IT'S NOT AS GOOD AS WHAT I HAVE NOW.

 

[scratch]

I want to retire early too. I just went through Peak 32, but I am 48. You have to wait till 59.5 for your 401K and 62 to draw full pension.

 

[retired2000]

scratch_king where are you? here in the northeast i retired at 52 with full pension and medical until the government stuff kicks in

 

[wildgoose]

Retired2000 Central States is where we are Scratch_King and a bunch more on this forum are from and are plan is much different from others. Why we have restrictions unlike other plans that doesn`t establish equality or unity amongst the Teamsters ? Up till this year (2007) I was not allowed to get a physical at my doctors office ? Now is that insane or what ? I would have to fake symtoms just to get the test done ! Otherwise like i paid $350 once out of pocket to have a checkup because of that !!!!!!! Up north and out west the plans seem to be better managed with the exceptions on New England fund and New York City (local 804) 59% funding or less. The reason for APWA is to get some sort of stability back in our retirement and health situation. You have to think if a large number of people are quetioning the actions of Teamsters something is not right !

 

[wyobill]

For all the crap we dish out about UPS, we get great benefits (yeh, like almost everyone else we have to pay a little bit), we get a pension (if you hang in there long enough), we get an investment (not so hot lately but you could do worse), and basically enjoy ourself for 25-30 years. Well, maybe I stretched the truth a little bit with the last one. So, with all this good stuff being provided, I am wondering what financial issues UPS employees have?

Anyone, maybe PEACOCK, want to take the challenge of answering that one?

I want one universal pension plan. It seems like there are so many different pension plans. we all work for the same company dont we?
I wish I could have recieved the contribution in company stock instead of sending it to Central States Pension fund.
I would have been rich! I plan to retire next year with 25
yrs of service at age 51. My check will be like a Social Security check. If I die my wife gets nothing.
If I could have recieved those retirement contributions in
UPS stock for the past 25 yrs imagine what kind of nest egg that would have been. Instead CSPF has tha money.
Central States fund = Enron

 

[an anonymous guest]

Eventually there will be one pension plan for management and whatever the unions negotiate for themselves, but they won't look anything like the old defined benefit plans, and the retirement age has to go up, just based on actuarials, for management. I see basic 25-30 yrs and out for drivers and other union employees. Who knows, the pilots will probably want golden parachutes more expensive than anybody's pension.

My big concern is increasing health costs for everyone, and what happens to the US economy if somethings like Social Secuirity and Medicare are not maintained and financed.

THese are competitive issues also, because a new startup, like RPS, can low ball their employees on compnsation, benefits, and retirement, and gain a cost advantage on UPS, where such things are the largest fixed cost. Everybody at UPS simply must do their jobs better and more productively than our competitors. The means everybody, from Mike in Atlanta, to the IT guys, to the drivers, sorters, and porters.


Go UPS!
P71

 

[ups79]

wyobill-your wife will get something if you take a spousal deduction. Actually being married when you retire, if you opt out of the spousal option, your wife will have to sign your retirement papers sent in to the union.

 

[retired2000]

i think here in upstate ny we would be in the same boat that you guys in the central states are. but, right after i came to work for ups one of our guys did some digging into the local pension fund.he then got us to put up $100 each tp get a lawyer to look onto the fund. turns out the pension fund was messing with our money. so it turns out that was the best $100 i ever spent

 

[Dfigtree]

PEACOCK SEZ ...
My big concern is increasing health costs for everyone, and what happens to the US economy if somethings like Social Secuirity and Medicare are not maintained and financed.
=========================================================
Social Security issues will be solved the same way Medicare was solved. No earning's limit on how much you pay. Your daughters will be paying and paying and paying. The "up to" part of Social Security below will be eliminated. Social Security tax will be on ALL earnings. Another hidden tax just when you were forgeting about the hidden Medicare tax bailout.


Social Security
Employee/employer (each) 2006 6.2% on earnings up to $94,200
2007 6.2% on earnings up to $97,500

Medicare taxes
Employee/employer (each) 2006 1.45% on all earnings
2007 1.45% on all earnings