Central States

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speeddemon

Guest
You can bet your :censored2: that the union employees prolly have a better retirement than we do. This blows. And I thought I used to have a bad attitude. Now we have the privilege of being screwd by UPS, the union, and Central States. And management wonders why so many of us come to work ill. Here comes the new and improved pissed off me.
 
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sendagain6160

Guest
Ever wandered why the cs funds are the only one that is hurting from the so called bad econmy they keep telling us about.Some of the other funds even got raises in their pensions.Happy holidays to all you folks out there,especially the one that are like me and was looking forward to this being my last peak season.}
 
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delivryman24

Guest
Here's what I heard this morning. Via-FEEDER KNOXVILLE. Supposedly, you guys who have your 30 years or at least close to 30 in won't be affected by this as much as guys like me who only have 15 years in. From this date(approximatley)forward you will only get about 80% per year of what you originally would have got. Anything that you have already vested up to this point you will get FULL credit for ie-$100 per year toward retirement in my district. If you have 30 years in before you are 57 and you wish to retire you will have to pay ALL insurance for you and your spouse ($500). On your insurance your copay will increase as well as your deductible. There were a few more details but i won't elabarate any further.

The guys where I work discussed getting a petition rolling via feeders. To get out of the pension plan we are under now(TEAMSTERS controlled) and go to a more UPS employee(not necesarily UPS company)controlled pension. This way we will be contributing to only ourselves and not carrying other TEAMSTER company pensions.
It may take until the next contract to legally get out of this, but I think the door has been opened to get this thing rolling.
The TEAMSTERS may be able to handle UPS Management, but I wonder how they will come out battleing there own members. Or should I say ex-members.
 
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local804

Guest
Very valid point sendagain, there was an increase in our plan.
 
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p

Guest
For gods sake educate your workforce before 2006.UPS huge mistake in 1997 was to not inform their hourly employees about teamster pension liabilities long before August.If the trust funds are mismanaged let us know about it well before 2006!UPS should not be welfare for poorly run teamster pension plans!
 
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brownmonster

Guest
Central States built Las Vegas, maybe the loans should be payed back now.
 
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my2cents

Guest
For comparison purposes, the New England pension fund was 61% funded for accumulated benefits last year, which is down from 71% the year before. Given the fact that these are theoretical numbers, I'm sure funded status is up this year due to the performance of the stock market and their real estate portfolio has been holding steady.
 
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parttimejon

Guest
here's the thing. all you guys seem to be wanting out of the current teamster plans. and believe me i don't blame you a bit. but what happens if we all decide to go with a company plan and then ten years down the road the company does the same thing or maybe something worse? what happens then. I am in local 175 which is halls local and he preached to us around contract time why we are so lucky to be in the union plan and why the company plan wouldn't suit our needs. well teamsters shot that right in the :censored2:. we need to stand up for ourselves and tell both the company and the union this isn't going to happen. i was a pretty big union guy until lately. seems everyone is out to get us.
 
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pretender

Guest
Yes, I realize that it is from the TDU website, which gives me reason for concern about their motives. But they seem to have the facts right. It basically states what delivryman24 just said--However, the insurance would be $500 each, for you and your spouse. These health and welfare increases are effective immediately--and, after Dec. 31, 2004, there will be no insurance at all if you are under the age of 57.

TDU has their own petition going, but I like the idea of getting a UPS only petition rolling--be it via Feeders, or another method. Maybe there won't be any direct/immediate changes made; but 1000s of signatures will certainly get some attention...

I was hoping that tieguy, or anyone else in management would weigh in on this matter--Perhaps it is because they have their own issues with their insurance. I agree that something has to be done, and I am willing to sacrifice. I just don't trust Central States to do it...
 
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wkmac

Guest
PT Jon,
The reason the argument about the company changing the game doesn't totally wash IMO is the $$$$ for H & W are up for grabs at every contract cycle just as they were this last one and the company ponied up big time. At any cycle the company could just say, "that's it, no more" and we would be no different otherwise. This risks a job action but on the flip side if the company controls the H&W this greatly reduces the success of a job action because of the risk of losing insurance, etc. How many people would have walked right back inside in 97' had the union told everyone that because no funds are coming in there is no H & W coverage. Having control of this is no doubt a huge advantage especially at contract time.

The problem with the current situation with H & W especially retirement is both sides want to control the money. For example, if the funds were paid directly to the employee to be placed into his/her 401k or other personally controlled account then if that employee left early, died, fired or whatever the money is gone with that employee but if either the union or company maintain control a lot of funds stay in the bank thereby reducing overall costs and at some point either side would benefit financially from this. If you were given the funds directly for your H & W costs to administer yourself then if you were wise and thrifty you might be able to cut out after 20 to 25 and manybe a case or 2 where someone with 15 years may cut and run. One thing fudciary controled funds do IMO is keep you locked in. On the Plantation if you will. BTW:If you find that reference offensive you might consult American Jurispudence under the article for Slave and Master. It plainly sez, "See Employer/Employee" Surprised me too.

Pension Funds can be abused by both sides and it's no secret that CS was abused by various parties within the union over the years. I just find it ironic to suggest that UPS would not be above board with the pension fund when it has been a number of IBT cronies who have shown not to be above board. With all due respect to Mr. Hall, ask him where was he when the light of day came upon some of these abuses.

Now that having all been said I do believe it's possible to correct the CS situation. The question is will the employers be willing to bail CS out of the current mess? What scarifices are the members willing to accept and I don't believe we can avoid that even though I don't like it one bit? Anybody remember in the contract extension of 85' where for the next 2 years the union took our raises in order to maintain H & W so I've got a feeling some of that big raise we got in 02' is about to go bye-bye in the CS controlled areas. Will the union only see UPS and their deep pockets or will they also ask the various Freight companies to pony up? Personally, I feel like UPS has been carrying the load and it's high time some of these others step up too. Another option is to allow UPS to buyout as they purposed in 97' and use those funds as a cash influx to stabilize the situation and then through the IBT setup a UPS Teamster only retirement plan. Better yet, put us in the same plan as management. Odds are 2 things might happen. One, the current plan for management with us involved might improve. More folks makes for bigger fund etc. etc. I said might not will so don't wad your thong in your crack. The other plus at least for us is that to cut our retirement means they would probably have to cut theirs and both sides mad is not what Glenlake wants. Then again look at the bright side, that long hated Center Manager and yourself would finally have something in common you could both complain about and agree on.
lol.gif
The problem of course will be all the details and the Teamster leadership will have to earn their keep but I personally believe a solution can be reached that protects us in the future, provides a fantastic retirement now and is an economic windfall for UPS. Which way will the ball roll? Based on the past history it probably won't be the right way IMO. And as always the above is JMO.
 
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sendagain6160

Guest
Just received the new Teamwork pension benefits and looks like some of us old timers will have to stick around a little longer.The younger guys gonna be with BROWN for a long long time so bend over and enjoy....
 
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wkmac

Guest
Just got a letter from our local about the current CS situation which was nothing more than damage control IMO. Not to say what was said was right or wrong, did agree with some, but in light of the ramping up of local TDU activities concerning this situation, the whole thing just came off like what we see in Washington where 2 party's are vocally opposed to one another but at the end of the day nothing of any real substance takes place. The solution is not to salvage the same ole, same ole. JMO.
 
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steamheat

Guest
won't live long enough to retire anyway so I'm not going to worry about it. my <u>only</u> hope is the lottery, and yes, I understand the odds. hence my depression.
 
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brownmonster

Guest
This is a letter my wife received from her employer today. 2 years ago the company gave each employee 9% of their annual wage in profit sharing and put it in the 401k. Last year it dropped to 5%. New rules as follows-------------
The mandatory annual Basic Employer Contribution of five percent (5%) has been eliminated and will not be made in the future. However, as in the past, the Company will continue making matching contributions and may make a discretionary contribution if determined appropriate by the Board of Directors.

We are still fortunate to be able to participate in this Plan, as other companies have abandoned such Plans.----------
The company now only promises to match 25 cents on the dollar up to 4 percent of income. That means if you make 50 grand the company contributes a whopping $500 a year towards your retirement. That's about a 90% drop in pension bebefits. Always trust a company with your pension. By the way, this company employs teamsters in it's warehouse under the Central States at $3000 after 30 years. Food for thought.
 
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