15% PENSION CUT COMING SOON

[UpstateNYUPSer(Ret)]

Are you guys in the same pension???

Yuppers.

 

[anHOURover]

How much is your "projected" reduction ?



-Bug-

Bug why do the teamsters keep making the same mistake ?

 

[UpstateNYUPSer(Ret)]

Bug why do the teamsters keep making the same mistake ?

Multiemployer plans depend upon the continued participation of and financial payments from all of their employers. When an employer either drops out or decides to stop paying it is then up to the other employers to pick up their slack.

UPS is responsible for 76% of our fund. They pay $16/hr in to the fund and we (upsers) receive only $9/hr in benefits.

 

[Future]

Multiemployer plans depend upon the continued participation of and financial payments from all of their employers. When an employer either drops out or decides to stop paying it is then up to the other employers to pick up their slack.

UPS is responsible for 76% of our fund. They pay $16/hr in to the fund and we (upsers) receive only $9/hr in benefits.

6200.00 a month as of today ....31 yr driver retiring soon....I haven't asked in a while but found that out yesterday

 

[brownmonster]

6200.00 a month as of today ....31 yr driver retiring soon....I haven't asked in a while but found that out yesterday

I'll get about 3500 at 30 years. My fund is in great shape.

 

[Inthegame]

UPS is responsible for 76% of our fund. They pay $16/hr in to the fund and we (upsers) receive only $9/hr in benefits.

You might want to check those numbers. $16 an hour x 40 = $640. I know some plans have negotiated more per hour than average but that's about $200 more than UPS pays in pension in most plans.
How do you figure you get $9 an hour in benefits?

 

[Jkloc420]

I'll get about 3500 at 30 years. My fund is in great shape.

congratulations

 

[Jkloc420]

6200.00 a month as of today ....31 yr driver retiring soon....I haven't asked in a while but found that out yesterday

hi girl

 

[Coldworld]

6200.00 a month as of today ....31 yr driver retiring soon....I haven't asked in a while but found that out yesterday

Is this in western conference???

 

[Coldworld]

I'll get about 3500 at 30 years. My fund is in great shape.

How much do they tax you on a pension... Is it the same as if you were employed making 3500a month???

 

[Catatonic]

I'll get about 3500 at 30 years. My fund is in great shape.

It should be with that payout.

 

[Future]

Is this in western conference???

Noooo

 

[UpstateNYUPSer(Ret)]

How much do they tax you on a pension... Is it the same as if you were employed making 3500a month???

It is my understanding that the pension payments themselves are not taxed.

In NY the first $20K is deducted from your gross for tax purposes.

 

[oldngray]

NY might be different but here pensions are taxed as ordinary income (but no FICA withheld). You are just in a lower tax bracket. Plus some states will give you a retirement credit that will reduce your taxes.

 

[burrheadd]

It is my understanding that the pension payments themselves are not taxed.

In NY the first $20K is deducted from your gross for tax purposes.

Taxed as ordinary income here

 

[IVE GOTTA PACKAGE 4U]

Taxed as ordinary income here

No state or local tax here. Depending where you live, that can be a lot of cash.

 

[MyTripisCut]

6200.00 a month as of today ....31 yr driver retiring soon....I haven't asked in a while but found that out yesterday

That's a little high?

 

[Future]

That's a little high?

I knew it was around that for a while ...but haven't asked since all the hoopla.....the guy had no reason to bs me ...also included his x wife gets 600 of that a month ...LOL