2018 Contract leaks

[Coldworld]

Life goes on!!!!!!!!!!!!

 

[Coldworld]

Be advised buyouts are usually bad deals for retirees.
But if you have a terminal condition...perhaps not.

Anyone offered a buy out should at least be informed before making a decision.
Paying a professional to evaluate the offer is probally best, but there are tools online as well...

Very basic calculator below, other are more precise.
A buyout in my case would have to exceed $1,000,000 to be valued fairly.
Years to retirement, age, physical condition, spousal benefit, and expected investment return all play a role in the decision. Also consider the health of the plan and the possibility of a future reduction in benefits.

Maximize Your Pension With This Calculator

Just another contract buyout rumor...been here 25+ years and never have seen a union buyout... won't happen

 

[35years]

Just another contract buyout rumor...been here 25+ years and never have seen a union buyout... won't happen

That depends if you consider the Central States exit a buyout.
Or are we speaking strictly of a lump sum payout en lieu of pension payments?

I think it is highly unlikely that either will happen...nearly 0%.

But considering that they did so with managers, it seems more possible than in the past.
Also more pension funds are in trouble, so the Teamsters would be more motivated to entertain the idea.

 

[35years]

If your whole center is set up that way from the start and start times are in the bids it is one thing but our center has had the same start time forever and all routes are dispatched based on that one start time.

Ours was set up with everyone stating at the same time years ago. They started bidding a route here and there with different start times in the 1990s. Usually nothing stopping it in the regional supplement. Our start times can be changed up to one hour without a rebid.

 

[BigUnionGuy]

There have been buy-out rumors, for the last 3 contracts.

It's not gonna happen.


Don't get any sort of grandiose ideas.... of the beach, and tuna colada's.

 

[Ms.PacMan]

tuna colada's.

Got a recipe for this?

 

[BigUnionGuy]

Got a recipe for this?

The results vary.... depending on the ingredients.

 

[MC4YOU2]

Yes

Q. Do I earn a PEER point based on my anniversary dates with my employer? How are the 500 hours counted for PEER points?
A. No. The Plan uses a calendar year for determining whether you have earned a year of contributory service towards your PEER points. For each calendar year that you work at least 500 covered hours under a PEER pension agreement, you earn a point.

Correct. You normally receive two possible PEER points annually. One for crossing the 500 hour mark and one for your birthday. If you subtract your current age from the qualifying 80 points needed to retire and divide that result by two, you'll have the number of years needed to qualify for your pension.

Fyi. If a FT driver is injured on the job (in the Western Conference) prior to reaching 500 contributory pension hours, UPS must pay into that driver's pension, up to the 500 hour mark. If a driver is off work from an on the job injury after already accumulating at least 500 hours, they're off the hook.

 

[MC4YOU2]

Interesting....so if I had 25 years in and worked 500 hours for each of my last 5 years I would have my peer 80 and would have my "full" pension??

Technically, yes, in the WCT. The difference is that you'd only get 500 hours of pension payments credited to your account. The max being 2080, your pension would just be smaller.

If you track your pension through the years, you'll see that the major growth takes place in the last years of your employment.

Though the contributions are not much larger than say, 10/15 years ago, then amount credited to your account by your 20/25th year is pretty substantial, so the earnings you're getting are huge compared to say, the first 5/10 years. Like the growth in a savings account. It's compounding growth more as each year passes.

 

[BigUnionGuy]

Correct. You normally receive two possible PEER points annually. One for crossing the 500 hour mark and one for your birthday. If you subtract your current age from the qualifying 80 points needed to retire and divide that result by two, you'll have the number of years needed to qualify for your pension.

Fyi. If a FT driver is injured on the job (in the Western Conference) prior to reaching 500 contributory pension hours, UPS must pay into that driver's pension, up to the 500 hour mark. If a driver is off work from an on the job injury after already accumulating at least 500 hours, they're off the hook.

Technically, yes, in the WCT. The difference is that you'd only get 500 hours of pension payments credited to your account. The max being 2080, your pension would just be smaller.

If you track your pension through the years, you'll see that the major growth takes place in the last years of your employment.

Though the contributions are not much larger than say, 10/15 years ago, then amount credited to your account by your 20/25th year is pretty substantial, so the earnings you're getting are huge compared to say, the first 5/10 years. Like the growth in a savings account. It's compounding growth more as each year passes.

I always think it's interesting, when members try to compare the WCT Plan

to the Central States Plan. The WCT Plan has 200,000 active participants and

5500 contributing employers ?


Maybe I'm not looking in the right place, but I can't seem to find the ratio

of "active vs. retired." Also.... the default rate of previous company's.


Welcome | The Western Conference of Teamsters Pension Trust


I wasn't soliciting an answer, unless you know.



-Bug-

 

[anHOURover]

I always think it's interesting, when members try to compare the WCT Plan

to the Central States Plan. The WCT Plan has 200,000 active participants and

5500 contributing employers ?


Maybe I'm not looking in the right place, but I can't seem to find the ratio

of "active vs. retired." Also.... the default rate of previous company's.


Welcome | The Western Conference of Teamsters Pension Trust


I wasn't soliciting an answer, unless you know.



-Bug-

Bug what is your crew doing with our pensions ? You red vest wearing scab

 

[MC4YOU2]

I wasn't addressing a comparison. Just providing info.

 

[twoweeled]

And unfortunately I have been at this hell hole for over 25 years and most of the bull they say does actually happen

LMAO!!! Isn't that the truth? Everybody's got some tough talk. If UPS wants it - sorry people, but it's going to happen. Most changes that UPS considers important or critical will happen faster than you think. BUT! I don't know this is what UPS considers critical (UPS only leaks what they want you to know) but if they do, some of you better start cancelling Sunday Church.

 

[twoweeled]

UPS sure like to bark a lot and talk a big game until they're called to act on their bull. I've seen it too many times. Layoffs? Lol! They have a hard enough time keeping drivers to run their operation as it is.

UPS has a hard time keeping drivers? You have a lot of drivers quitting at your center? I'm not talking about the driver who came out of the hub and decided to go back, but you have drivers with a couple of years of driving, quitting???
No offense, but how many years do you have driving?

 

[twoweeled]

Well just like I was told by a good source last year. UPS is going to do anything g it can to change a lot of language in the upcoming contract . The main one is going to be Sunday work. Yes we will be working on Sundays I can almost guarantee that . I’m sure not all of us but a handful of routes will be Sun thru Thurs . Now I hope our negotiators will be smart about and not change that we are entitled to double pay for any work performed on sundays .I am not for this in any way but I know UPS will get their way by threatening that competition is doing this and if we don’t there will be layoffs (which is bull). Just what they said about Saturdays.

#1 There are no leaks at UPS. If UPS doesn't what you to know about it, you won't!

 

[sailfish]

UPS has a hard time keeping drivers? You have a lot of drivers quitting at your center? I'm not talking about the driver who came out of the hub and decided to go back, but you have drivers with a couple of years of driving, quitting???
No offense, but how many years do you have driving?

Our long-timers are still here, what I'm saying is they can't keep any of the new ones. In five years only THREE new ones have stuck with it. I've lost count of how many they've "trained" though.

 

[sailfish]

Our long-timers are still here, what I'm saying is they can't keep any of the new ones. In five years only THREE new ones have stuck with it. I've lost count of how many they've "trained" though.

That and I know guys from other places who have said they hired five new guys when they got Saturday Ground and every single one of them quit.

 

[twoweeled]

Seems like 1997 all over again.

I wish!!

 

[Jkloc420]

nobody wants to drive at ups anymore

 

[IVE GOTTA PACKAGE 4U]

That and I know guys from other places who have said they hired five new guys when they got Saturday Ground and every single one of them quit.

Nobody wants to work till 9 o'clock on a Saturday night.