Can someone explain to me what exactly will happen to our healthcare..

[Asskicker]

Yes, they walked out in 1999 and back in in 2002 when the Teamsters ended the strike therefore losing because they were unable to organize all of the employees.

UPS paid $6.1 billion to exit the fund in 2007. Hoffa allowed UPS to withdraw from the fund in exchange for a card check neutrality pledge allowing the Teamsters to organize UPS Freight, which became a division of UPS after the company purchased the freight shipper Overnight in 2006.


Read more: Teamsters pension crisis sapping Hoffa’s support, power | The Daily Caller

 

[Asskicker]

And what do you mean about once again? Every post I make I have researched what's going on. I don't just blow smoke out of my ass. A majority of UPS employees will now be put into this Central States insurance plan and it sucks. We shouldn't make this concession, but like I said before....Hoffa is making up for his previous under the table dealings with UPS.

 

[Asskicker]

THE NEXT GREAT BAILOUT: TEAMSTERS PENSIONS? The Wall Street Journal reports on what might be the next great federal bailout. The Teamsters Union Central States pension fund has been in trouble for some time—UPS pulled out of the fund in 2009—but now it’s advancing towards a point of no return.
It seems the Teamsters Union’s Central States pension fund is going bust fast, with companies like Republic Services pulling their employees from the fund. The Journal notes:

Investment losses during the financial crisis and hard times for trucking companies that pay into the Teamsters’ Central States Funds have sapped the fund of money it uses to pay promised benefits.
With just 60 cents of assets for every $1 in obligations, the Teamsters pension fund is considered in “critical” status by the Pension Benefit Guaranty Corp., the federal agency that backstops failed pensions.

​

Any more sources you want me to quote, or do you get the idea. Where are you getting your info from Mr. I know more then you do? The Union? Hahahahahahahahahahahahahahahahaha

 

[UpstateNYUPSer(Ret)]

Almost accurate but the "union" cannot pocket anything. The "union" doesn't get any contributions other than dues from their members. The Taft Hartley H&W Fund (or Pension) get the contributions on behalf of the participants, and usually covers costs through Fund assets with an insurer (BCBS, Aetna, Humana, etc.) administering the plan on a fee basis. Not a penny of any contribution is allocated to the union as union (and company) trustees cannot be paid for services. Taft Hartley Plans, including Teamster administered H&W Plans are definitely among the best in the country as they are completely non-profit giving the members the best bang for the buck.

So please explain to me why our Teamster health care plan currently has 18 months of financial reserves if not for the ability of the union to "pocket" any savings realized by being able to secure healthcare for less money that what UPS was paying them.

 

[Dracula]

THE NEXT GREAT BAILOUT: TEAMSTERS PENSIONS? The Wall Street Journal reports on what might be the next great federal bailout. The Teamsters Union Central States pension fund has been in trouble for some time—UPS pulled out of the fund in 2009—but now it’s advancing towards a point of no return.
It seems the Teamsters Union’s Central States pension fund is going bust fast, with companies like Republic Services pulling their employees from the fund. The Journal notes:

Investment losses during the financial crisis and hard times for trucking companies that pay into the Teamsters’ Central States Funds have sapped the fund of money it uses to pay promised benefits.
With just 60 cents of assets for every $1 in obligations, the Teamsters pension fund is considered in “critical” status by the Pension Benefit Guaranty Corp., the federal agency that backstops failed pensions.​

Any more sources you want me to quote, or do you get the idea. Where are you getting your info from Mr. I know more then you do? The Union? Hahahahahahahahahahahahahahahahaha

Accurate. Whether or not you like Central States healthcare, though, the pension is SEPARATE from the Health and Welfare fund. Do not confuse the two.

 

[JDAM00]

I've read a lot about the issues with the health care plan. I looked into the C6 plan everyone was talking about and it truly was horrible. My health insurance is, and is going to stay "teamster Supreme Blue Cross/shield. It is incredibly better than any health insurance I've heard of from other UPS employees. It's even better than any health insurance I've seen from anyone.

I don't say this to rub it in anyone's faces, I guess I'm just stumped on why mine can be so great, and others are so extremely horrible.

When I read about the central states plan, I panicked and called my steward. He told me the central states have been getting shafted for years.

 

[brostalss]

Contact the maroon at 1600 Pennsylvania Ave.

 

[balland chain]

Yes, the money will be diverted to CSH&W that is already in trouble.. This fund that pays the same pension amount that we get to retirees of other trucking companies, BUT, their former employers did not pay into the fund anywhere near what UPS had been paying into the fund.. So, we have retires from trucking companies that have gone bankrupt, and they are getting the same amount that UPS retires get, but their CO. paid only a percentage of what UPS had been paying into the fund...Math is quite simple, when CSH&W fund pays the same amount to all regardless of how much their employer pays into the fund, well it will eventually go bankrupt.. And the CS fund is not in good shape at all..This new idea of placing all UPSers into this fund is a very bad idea,, the monies will be diverted to the already failing pension fund (keep in mind it is not just paying UPSers) so we at UPS are getting the shaft again.. We are now having to suffer because of the Unions decision to pay the same pension across the board to all trucking companies workers.. That is the biggest problem of this fund.. If company X paid in half of what UPS was paying into the fund, then the retires from company X should get half of what we get.. That is not how it is though.. So with this new contract, and language in the contract stating that the monies for insurance may have to go towards the pension fund ? well guys, at our expense, again, we are subsidizing the retires pensions that did not even work for UPS and our healthcare will suffer greatly due to changes in coverage. Never in my 26 years in the CS H&W plan has my insurance gotten better.. The cost' have always gone up, and coverage has gotten worse..

 

[brownmonster]

Yes, the money will be diverted to CSH&W that is already in trouble.. This fund that pays the same pension amount that we get to retirees of other trucking companies, BUT, their former employers did not pay into the fund anywhere near what UPS had been paying into the fund.. So, we have retires from trucking companies that have gone bankrupt, and they are getting the same amount that UPS retires get, but their CO. paid only a percentage of what UPS had been paying into the fund...Math is quite simple, when CSH&W fund pays the same amount to all regardless of how much their employer pays into the fund, well it will eventually go bankrupt.. And the CS fund is not in good shape at all..This new idea of placing all UPSers into this fund is a very bad idea,, the monies will be diverted to the already failing pension fund (keep in mind it is not just paying UPSers) so we at UPS are getting the shaft again.. We are now having to suffer because of the Unions decision to pay the same pension across the board to all trucking companies workers.. That is the biggest problem of this fund.. If company X paid in half of what UPS was paying into the fund, then the retires from company X should get half of what we get.. That is not how it is though.. So with this new contract, and language in the contract stating that the monies for insurance may have to go towards the pension fund ? well guys, at our expense, again, we are subsidizing the retires pensions that did not even work for UPS and our healthcare will suffer greatly due to changes in coverage. Never in my 26 years in the CS H&W plan has my insurance gotten better.. The cost' have always gone up, and coverage has gotten worse..

Payouts from our pension fund are based on the amount of contributions put it by each individual company. They are not the same.

 

[beentheredonethat]

Payouts from our pension fund are based on the amount of contributions put it by each individual company. They are not the same.

Brownmonster... I have a question. I have heard what you indicated before. But here's my question for you. Is the ratio's the same. For example (again I'll use made up numbers just for easy math). If UPS paid 200/month to an employee for each month for 30 years and company x payed 100/month for each month for their employee for 30 years. Do they get exactly 1/2 what the UPS employee gets?

If so..., the you are right. However, if they get anything more then 1/2 (using the numbers above). Then UPS and UPSers are subsidizing other companies retirees.

Can you confirm the ratios are equal or not?

​

 

[UpstateNYUPSer(Ret)]

I am in a multi-employer pension plan and UPS is definitely subsidizing the retirees from other companies in our plan.