Central States Pension Fund cuts

[wkmac]

I have an idea. How about all current full timers take a .50 pay cut to help a brother out?

I actually suggested something similar when this whole issue began in another thread and to say I was almost by myself is an understatement. When it was announced that the number of effected UPSers was 8700 plus and an example was given of one retiree's pension cut at about $1500 per month, I used the .70 cent raise as the base and 200k current UPS Teamsters, this would give an annual amount of $291 million dollars collected from the .70 cents if I remember my math correct The amount needed to cover the costs in my criteria above is right at $156 million annually.

I actually had this same conversation with several co-workers yesterday and they agreed doing something like this is a no-brainer. But I suspect no such happenings will ever occur.

 

[PT Car Washer]

You are getting that from a lot of people? Doubtful. I did vote no in 1982. If you are a part timer after 30+ years, you have enough problems. Good luck to you.

What problems would that be?

 

[rod]

I have an idea. How about all current full timers take a .50 pay cut to help a brother out?

I would never expect nor want my fellow Brothers to take a wage cut just because my pension will be cut in half. I am disappointed that the plan can't get bailed out by the Government like the banks and car companies were. It would cost way less than that bail out. Don't give me that "but those people paid it back" argument---we all know that was just smoke and mirrors and fancy numbers juggling.

 

[realbrown1]

I feel bad for you. You should start your own campaign to get your brothers and sister to give up that 50cent.

What I'm getting from a lot of people is the I wonder how many of the ups teamsters that voted yes in 1982 to cut the wages of the part timers are now getting something cut now.

Most people say they voted no on that contract but we know how that goes. Everyone is going to say they voted no after the fact that hen that question is presented to them.

You are a liar, so you just assume everyone else is too?

This is an example of what's wrong with the current leadership.

 

[UpstateNYUPSer(Ret)]

The one point that I have yet to see addressed throughout this discussion is the unintended consequences the ex spouses of CS retirees will face with their 50% pay cuts. Will the retiree have to make up the difference or will the QDRO's be modified/adjusted accordingly?

 

[BigUnionGuy]

The one point that I have yet to see addressed throughout this discussion is the unintended consequences the ex spouses of CS retirees will face with their 50% pay cuts. Will the retiree have to make up the difference or will the QDRO's be modified/adjusted accordingly?

Valid question.

(With a veiled hint of personal curiosity ?)


http://www.dol.gov/ebsa/faqs/faq_qdro.html


That would be a reason, to talk with an attorney.

My personal thought....

"squeezing blood out of a turnip"

http://www.urbandictionary.com/define.php?term=squeeze+blood+out+of+a+turnip



-Bug-

 

[UpstateNYUPSer(Ret)]

I lose 16%.

Several recent retirees are losing 50%.

 

[BigUnionGuy]

I lose 16%.

Several recent retirees are losing 50%.

Everyone, makes choices in life.

 

[UpstateNYUPSer(Ret)]

Everyone, makes choices in life.

Why do you have to be a dick head?

 

[govols019]

Lmao

 

[Lead Belly]

Why do you have to be a dick head?

Dude we ask the same thing about you.

 

[RealPerson]

I actually suggested something similar when this whole issue began in another thread and to say I was almost by myself is an understatement. When it was announced that the number of effected UPSers was 8700 plus and an example was given of one retiree's pension cut at about $1500 per month, I used the .70 cent raise as the base and 200k current UPS Teamsters, this would give an annual amount of $291 million dollars collected from the .70 cents if I remember my math correct The amount needed to cover the costs in my criteria above is right at $156 million annually.

I actually had this same conversation with several co-workers yesterday and they agreed doing something like this is a no-brainer. But I suspect no such happenings will ever occur.

I am going out here by saying this. I am going to guess this is JUST like the government. You can take in more and more money, but always come up short. It is the Spending, Shortfalls, early retirements and so on. Keep in mind lots of people put money in that never retire, some places have given up their raises, so on so on....

 

[wkmac]

True as well.

 

[hellfire]

I would.gladly give up 50 cents a hour to save UPSERS.What's amazing to me is it seems everyone on BC is a financial guru with millions stocked away in various investments .

 

[Lead Belly]

I would.gladly give up 50 cents a hour to save UPSERS.What's amazing to me is it seems everyone on BC is a financial guru with millions stocked away in various investments .

You see this hat I see as well. The 50cents wouldn't even begin to cover it. Maybe for the upsers only but everyone else would cry bloody murder. We payed the bulk of that fund for years. There's NO WAY we or ups will put in another dime.

 

[TheBeerDriver]

I don't even work for UPS, and I would take a 50 cent cut. I would hate to be close to retirement and find out half of my pension is gone. That would be horrible.

 

[UpstateNYUPSer(Ret)]

I don't even work for UPS, and I would take a 50 cent cut. I would hate to be close to retirement and find out half of my pension is gone. That would be horrible.

I don't think you understand. The 50 cent pay cut would go toward funding the pensions of complete strangers. Would you still be willing to do it?

In our local we have diverted several split raises to our severely underfunded pension.

It hasn't helped.

 

[Sportello]

I would.gladly give up 50 cents a hour to save UPSERS.What's amazing to me is it seems everyone on BC is a financial guru with millions stocked away in various investments .

One thing that may be able to be done is to segregate the monies UPS paid into the CSPF go to exclusively to retired UPSers. If that happened, all is good for your retired brothers/sisters.

You should hope to have a million, or close to it, socked away to live a worry-free retired life. JMO.

I don't think you understand. The 50 cent pay cut would go toward funding the pensions of complete strangers. Would you still be willing to do it?

No, brothers/sisters and friends you haven't met.

 

[TheBeerDriver]

I don't think you understand. The 50 cent pay cut would go toward funding the pensions of complete strangers. Would you still be willing to do it?

In our local we have diverted several split raises to our severely underfunded pension.

It hasn't helped.

True, I guess I just feel bad for those effected. Very unfortunate.

 

[rod]

You should hope to have a million, or close to it, socked away to live a worry-free retired life. JMO.



.

Even that isn't enough if you like the casinos and live beyond your means. There is no magic number. If you still have a house payment, car payments, kids living at home, kids in college, a high maintainence wife or moochie relatives you can blow through money big time. If you have lived the high life while working and expect to do the same after retiring you may be in for a rude awakening.