Worth Your Time

[dammor]

VIDEO
View a Summary of UPS-IBT Pension Issues
hall, International Vice President and Director of the Parcel Division, and attorney Ed Gleason explain the UPS/IBT Full-Time Employee Pension Plan contained in Article 34L of the Master Agreement for Teamsters covered under the Central States Pension Plan.

Get on teamsters.org and download this video. For those of you like me who have been in Central States for many years this is a must see. I have been pulling my hair out trying to understand the language in the Tentative Contract. Finally someone has explained it in a way even I can understand. I am relieved to say the least. I'll be interested to hear what others think.

 

[speedbug]

VIDEO
View a Summary of UPS-IBT Pension Issues
hall, International Vice President and Director of the Parcel Division, and attorney Ed Gleason explain the UPS/IBT Full-Time Employee Pension Plan contained in Article 34L of the Master Agreement for Teamsters covered under the Central States Pension Plan.

Get on teamsters.org and download this video. For those of you like me who have been in Central States for many years this is a must see. I have been pulling my hair out trying to understand the language in the Tentative Contract. Finally someone has explained it in a way even I can understand. I am relieved to say the least. I'll be interested to hear what others think.

Dammor,
If all these guys posting their opinions on here as if they were facts would just watch the video the would save themselves and others alot of grief. The way the video explains the pension I think it is a damn good pension. great benefits and secure.

 

[705red]

Dammor,
If all these guys posting their opinions on here as if they were facts would just watch the video the would save themselves and others alot of grief. The way the video explains the pension I think it is a damn good pension. great benefits and secure.

Just keep in mind, that if they have it in video format that that is great, but we need it in writing in contract form to promise that. Heres a question to ask, can the trustees on the new fund ever vote this out?

 

[dammor]

Just keep in mind, that if they have it in video format that that is great, but we need it in writing in contract form to promise that. Heres a question to ask, can the trustees on the new fund ever vote this out?

Red, I agree it needs to be in writing. I'm not sure it isn't already in writing though.
I have a hard time understanding most of what they have written. Seems one needs a law degree to read it correctly. Perhaps that's why we have so many different interpretations of what we are reading. As far as changing the language in the future, well the video speaks about that issue. Did you watch and listen to it?

 

[705red]

Red, I agree it needs to be in writing. I'm not sure it isn't already in writing though.
I have a hard time understanding most of what they have written. Seems one needs a law degree to read it correctly. Perhaps that's why we have so many different interpretations of what we are reading. As far as changing the language in the future, well the video speaks about that issue. Did you watch and listen to it?

No im guilty of not wasting anymore time on hall, so i did not sit through it. But here is a question that i asked an agent on the memorandum in the back of the contract on ups will not go after any other pension funds for 10 years, that is only good for the duration of this contract through 2013 and can be remover during the next contract. I have also seen where trustees change the benefits like in 804, 177, the western conference, because all it takes is the trustees to vote on the changes nulling and wiping away the previous benefits.

 

[satellitedriver]

VIDEO
View a Summary of UPS-IBT Pension Issues
hall, International Vice President and Director of the Parcel Division, and attorney Ed Gleason explain the UPS/IBT Full-Time Employee Pension Plan contained in Article 34L of the Master Agreement for Teamsters covered under the Central States Pension Plan.

Get on teamsters.org and download this video. For those of you like me who have been in Central States for many years this is a must see. I have been pulling my hair out trying to understand the language in the Tentative Contract. Finally someone has explained it in a way even I can understand. I am relieved to say the least. I'll be interested to hear what others think.

Good info.
This answers alot of questions.
For myself, as a CS vested pension future retiree, this cut and paste from the written text is the best part.

THE NEW PLAN
WHO IS COVERED?
•UPS Employees Who Were Participants in the Central States Pension Fund as of December 26, 2007 Will ImmediatelyBecome Covered Participants Under the New Plan (i.e., January 1, 2008),provided they have 1 Hour of Covered Employment
–These Employees are Referred to as “Grandfathered Central States Pension Plan Participants”

This must bring a sigh of relief to all employees covered under the CS plan.
Now, let's just see if it passes.
PAX

 

[BigBrownSanta]

Just keep in mind, that if they have it in video format that that is great, but we need it in writing in contract form to promise that. Heres a question to ask, can the trustees on the new fund ever vote this out?

Red, you really should watch this video. According to the video, changes to the pension must be approved through the collective bargaining process and voted on by the members.

 

[satellitedriver]

No im guilty of not wasting anymore time on hall, so i did not sit through it. But here is a question that i asked an agent on the memorandum in the back of the contract on ups will not go after any other pension funds for 10 years, that is only good for the duration of this contract through 2013 and can be remover during the next contract. I have also seen where trustees change the benefits like in 804, 177, the western conference, because all it takes is the trustees to vote on the changes nulling and wiping away the previous benefits.

But, there will be an equal number of trustees from the union and UPS to do the voting on any future changes.
There will not be a one sided majority rule on any vote dealing with the pension.
Memorandums on the back of a contract have no meaning. What is written on the front of a contract is all that legally matters.
You will not waste your time on what hall has to say, but you will waste your time over minutia.

 

[Captain America]

The accrual rates are to low, we deserve more. Anybody who takes the straight years of service pension is retiring into poverty.inch:

 

[GuyinBrown]

Heres a question to ask, can the trustees on the new fund ever vote this out?

I have not yet scoured the contract for language to confirm this, but according to the video, no. They say that any change must be bargained and then ratified by the employees.

 

[Cezanne]

Which would be "subject to change"...