I can't speak for the various plans around the country but as for Central States, they've reverted back to the old work rules in place prior to the the most recent IBT/UPS contract. I've heard numerous stories about retirees working even jobs that don't compete with union work having problems but not sure how true. A couple of guys I know retired over the last few years and our local told them that if they planned to work they should contact the local and they would tell them if that work conflicted with the work rules. This is no guarantee either way but it sure beats the "no work" period the Central States trustees had taken after the contract was ratified.
A company run plan has many pros and cons just as our current sitution does as well but the one attractive aspect of a company plan is there were no work restrictions. I respect the fact of a limitation on taking another union job but outside of that I don't think it's any of the union's business what I do after I've put in my time. Besides, if the union's various plans had done a better job the funds would be there to provide us with such a good retirement that work for pay would not even be an issue for many folks. UPS Teamsters need to push and push hard for removal of all work restrictions except working another union job. I do think that is legit. Have a good one!
Hopefully this will all be settled in the next 9 years. If not, I plan to sue. You are correct wkmac, the Teamsters have no right sticking their noses into my retirement employment. It shouldnt be surprising though, liberals tend to demand total control over our lives. Ill carry the argument one step further, If I gain employment with a union company and they make H&W contributions how does that harm the union?
Sorry, no tin foil hats in my world.
Ill keep it short and sweet. The Teamsters Leadership (Liberals) never met a government program (involvement in our lives) they didnt embrace. Attempting to control our employment after a UPS career is just an extension of their desire to make us dependant on the Teamsters. Unions love to wave the flag and shout for Worker Freedom and Worker Rights. I guess that doesnt apply to retired Teamsters.
How do you go about getting those restrictions lifted. This is not a contractual thing. This is part of the restricitions the Pension Plans have impossed on us. That is our money and we have earned it. When we have met the requirements to recieve it, it should have no further restrictions placed on it.
The Employee Retirement Income Security Act of 1974 (ERISA)
"Under certain circumstances (described below), your pension payments after you reach normal retirement age may be suspended if you return to work. For example, ERISA permits a multiemployer plan to suspend the payment of normal retirement benefits if you return to work in the same industry, the same trade, and the same geographical area covered by the plan as when benefits commenced.
Before suspending benefit payments, however, the plan must notify you of the suspension during the first calendar month in which the plan withholds payments. The notification must give you the information on why benefit payments are suspended, a general summary and a copy of the plan's suspension of benefit provisions, a statement regarding the Department of Labor regulations, and information on the plan's procedure under which you may request a review of the decisions to suspend benefit payments. If most of this information is contained in the plan's summary plan description, the notification may simply refer to the appropriate pages of the summary plan description.
A plan that suspends benefit payments must advise you of its procedures for requesting an advance determination of whether a particular type of reemployment would result in a suspension of benefit payments. If you are a retiree and are considering taking a job, you may wish to write to the administrator of your plan to ask if your pension benefits would be suspended.
I don't disagree with you on the retirement issue we are discussing here. I believe Central States has flipped on that issue. I may be wrong though. My problem is with your statement that liberals seem to demand total control over our lives. We live in different parts of the country no doubt. Where I live the only way you can catch a breath is if the "righteous" are on a different mission. I don't appreciate either side telling me what to do. Your irritation seems to be with Teamsters and I have some of that also. Don't label all liberals with being in sinc with what you consider to be the teamsters mentality. To me a liberal is a person that has and open mind and is willing to talk about most anything without throwing too many swords.
Our differences may be in definition. To me a Liberal is the person that wants Government involved in every aspect of our lives. A person that takes very little if any personal responsibility for their lives and actions. A Conservative on the other hand wants to be left alone and takes total responsibility for their life and needs. I see this retirement battle as one you and I would fight side by side.
Upsdude you dont think that the Union put those restriction in order to keep as much money in the fund as they can do you???? I know the big evil Liberal Union senario wanting to control every part of our lives makes sense to you, but I am thinking the Union makes a big chunk of their money managing our pension funds (taking a pecentage of the total value of the funds).Self preservation is what is behind the restrictions. I think you have a case of liberal phobia.
Thanks for all the input guys, I am learning alot.
It just really burns me that the teamsters keeps such restrictions on what we do after we retire. They have cut back on how fast are pension grows while they are receiving the highest contribution rate from the company. They don't give cost of living adjustments after we retire and then they tell you if you can work or not to pick up a couple of extra dollars.