Congratulations on pension increase

[GameCockFan]

Hope your not in the Central States Pension then I'll feel bad , they lost 25 and out away and if it is 106% funded it can go way up but UPS doesnt want a pension thats not in the green.

Once more, in English this time. No idea what you're trying to say. To clarify, he is speaking of central states/ IBT/UPS plan. It's 106% funded. Just some numbers to refute the crap some are spewing on here.

I can retire in 5 years and receive $2650+ @ 47.(not going to) $31,800/year 25 full time years

I can retire in 10 years and receive $3400 @ 52 (no again) $40,800/year 30 full time years

I can retire in 15 years and receive $4258 @ 57 $51,096/year 35 full time years

i can retire in 20 years and receive $5788 @ 62 $69,456/year 40 full time years

I can retire in 25 years and receive $6383 @ 65 $76,596/year 45 full time years

There are 2 types of pensions. Years of service and defined benefit. You will receive whichever one is higher. 57-62 is looking pretty good to me. Drivers who started later, I had 15 years pre-2008, are going to receive much more. The accrual rate also increased this contract(not enough IMO) so these numbers are low.

All this bull**** about how bad it is in the south for pension/healthcare is hogwash. The cost of living is super cheap here. I'm buying a 2870 sq ft home in a nice area. 4bed/3bath for $235K. If you save, fund your 401k,buy some company stock, live below your means, your going to have a great retirement.

A driver that started in 2008 and works 35 years will get $6100/month. Thats on par with any other plan at UPS.

 

[balland chain]

Once more, in English this time. No idea what you're trying to say. To clarify, he is speaking of central states/ IBT/UPS plan. It's 106% funded. Just some numbers to refute the crap some are spewing on here.

I can retire in 5 years and receive $2650+ @ 47.(not going to) $31,800/year 25 full time years

I can retire in 10 years and receive $3400 @ 52 (no again) $40,800/year 30 full time years

I can retire in 15 years and receive $4258 @ 57 $51,096/year 35 full time years

i can retire in 20 years and receive $5788 @ 62 $69,456/year 40 full time years

I can retire in 25 years and receive $6383 @ 65 $76,596/year 45 full time years

There are 2 types of pensions. Years of service and defined benefit. You will receive whichever one is higher. 57-62 is looking pretty good to me. Drivers who started later, I had 15 years pre-2008, are going to receive much more. The accrual rate also increased this contract(not enough IMO) so these numbers are low.

All this bull**** about how bad it is in the south for pension/healthcare is hogwash. The cost of living is super cheap here. I'm buying a 2870 sq ft home in a nice area. 4bed/3bath for $235K. If you save, fund your 401k,buy some company stock, live below your means, your going to have a great retirement.

A driver that started in 2008 and works 35 years will get $6100/month. Thats on par with any other plan at UPS.

Not all drivers that live in the south are going to RETIRE in the south.. Just as the drivers who get close to double what we get, they too can move to a state where is is cheaper to live...I am NOT staying in SC when I retire, and FLA is much more expensive to reside in..I already have a home that is paid for there, but food, gas, groceries, water, home insurance and electric are much more than they are here in SC..

 

[balland chain]

Once more, in English this time. No idea what you're trying to say. To clarify, he is speaking of central states/ IBT/UPS plan. It's 106% funded. Just some numbers to refute the crap some are spewing on here.

I can retire in 5 years and receive $2650+ @ 47.(not going to) $31,800/year 25 full time years

I can retire in 10 years and receive $3400 @ 52 (no again) $40,800/year 30 full time years

I can retire in 15 years and receive $4258 @ 57 $51,096/year 35 full time years

i can retire in 20 years and receive $5788 @ 62 $69,456/year 40 full time years

I can retire in 25 years and receive $6383 @ 65 $76,596/year 45 full time years

There are 2 types of pensions. Years of service and defined benefit. You will receive whichever one is higher. 57-62 is looking pretty good to me. Drivers who started later, I had 15 years pre-2008, are going to receive much more. The accrual rate also increased this contract(not enough IMO) so these numbers are low.

All this bull**** about how bad it is in the south for pension/healthcare is hogwash. The cost of living is super cheap here. I'm buying a 2870 sq ft home in a nice area. 4bed/3bath for $235K. If you save, fund your 401k,buy some company stock, live below your means, your going to have a great retirement.

A driver that started in 2008 and works 35 years will get $6100/month. Thats on par with any other plan at UPS.

Here is the Crap that I am spewing,,,I sent my papers to UPS for my retirement estimate two months ago,, with 26 years in, at age 50, I will get 2000.00 a month.. I have this in writing from the UPS retirement dept.. I even called them to clarify this. The lady I spoke with did confirm the figure..

 

[Inthegame]

Here is the Crap that I am spewing,,,I sent my papers to UPS for my retirement estimate two months ago,, with 26 years in, at age 50, I will get 2000.00 a month.. I have this in writing from the UPS retirement dept.. I even called them to clarify this. The lady I spoke with did confirm the figure..

Help me out here, are you complaining about a $2000 a month pension benefit at age 50?

 

[hoopdedoo]

You hit the nail right on the head. If anything the money should be diverted to pay for healthcare. That would help not only future retirees but also current retirees who are being forgotten about. Remember what goes around comes around.

 

[hoopdedoo]

OffRoutesPay??????What????

 

[hoopdedoo]

That's not on par with the pension @ Teamsters Local 177 Hillside NJ...currently $3700/mo 30 years any age or $3700./mo 25 years age 55.

 

[hoopdedoo]

Which means that current retirees who don't get this $400./mo increase are basically sh.. outta luck. Who exactly looks out for them?

 

[balland chain]

Help me out here, are you complaining about a $2000 a month pension benefit at age 50?

Yeah I actually am, when a driver out west gets in the area of 3800-3900 a month , yeah i am gonna bitch. !!! Plus, I read a post that said they may have done away with the 25 and out for us in the CS plan

 

[brownmonster]

Yeah I actually am, when a driver out west gets in the area of 3800 - 3900 a month , yeah i am gonna bitch. !!! Plus, I read a post that said they may have done away with the 25 and out for us in the CS plan

If someone gave you a million dollars in 100 dollar bills you would complain that they weren't 50's. If I retire at 53 with 25 years I get 2100 a month here in the the north.

 

[Ms.PacMan]

Once more, in English this time. No idea what you're trying to say. To clarify, he is speaking of central states/ IBT/UPS plan. It's 106% funded. Just some numbers to refute the crap some are spewing on here.

I can retire in 5 years and receive $2650+ @ 47.(not going to) $31,800/year 25 full time years

You're confused friend. At age 47 with 25 yrs, your payout will be $2000. At age 65 your IBT/UPS pension amount will be zero and CS (if they are not bankrupt) will pay the $2000.

I don't believe the contributory pension (+1801 hrs/yr) is figured in until you hit that magical 30 years. The pension payment for your 12 service credit years will forever revert back to CS when you turn 65.

 

[East coast navy]

Who will this affect? just full timers??? part timers? both?

The company is also putting in $1.20 a hour worked in 40 hour week with the 30 cents from us. If this gets voted down the $1.20 is off the table. So let's look at the good and bad with this. (good)First, the company is putting in 80% contributions into the pension that is almost doubled from last contract. Which helps the plan get out of the rehab program which the company contributes 30 cents that we can get back. Second, a lot of members are going to retire which will open up more jobs in the work place. Third, opens up more spots for premium vacation pics for the working members. (bad) We have to put in 30 cents in a year. Don't get me wrong $3.90 should be $5 but that is a national problem. That's way it's a no on the master and yes on the loca suppalment.

 

[hoopdedoo]

Also, the Company is coming up with an additional $1.20 an employee hour worked which is why it is possible. By law, Pension fund payouts for Funds going through a rehab process can only be increased if dedicated new funds are put directly to it. Congratulations for negotiating that increase Local 177. I hope the membership is smart enough to vote for the 30 cent diversion to the fund. If not, it all goes away.

Why dont they just divert the 30 cent diversion into healthcare that way even the current retirees will benefit

 

[East coast navy]

Why dont they just divert the 30 cent diversion into healthcare that way even the current retirees will benefit

They do benefit, it it only goes up from $50 a month to $100 and if you retire before Jan 1st you get locked into that and stay in the Cadillac plan.

 

[Omega man]

Why dont they just divert the 30 cent diversion into healthcare that way even the current retirees will benefit

I would like UPS to put most of our raise into both plans but the youngsters would certainly have issue with it.
This is why we vote.

 

[jrjacksn]

We gave up 30 cents of our raise in each of the five years of the of the contract. I think UPS in contributing $1.20 but I'm not 100 per cent sure about that.
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[ikoi62]

If your in local 177 you haven't given anything up yet. it still has to be voted on.and it will be a inperson vote.

 

[The Milkman]

They do benefit, it it only goes up from $50 a month to $100 and if you retire before Jan 1st you get locked into that and stay in the Cadillac plan.

Maybe new retirees will benefit..I am now paying $50 a month. Was told when I retired that would be the cost. From what I am reading it goes up for currently retired to $100, $200, then $300 per month with spouse, $150 for retiree alone in third yr. Would like to be locked in plan I was promised when I left, us retirees are hung out to dry once you retire and we have to count on future retirees to do the right thing for themselves and those who paved the way for them..

 

[bluehdmc]

If your in local 177 you haven't given anything up yet. it still has to be voted on.and it will be a inperson vote.

Wondering how this is gonna be done? Over a weekend? We have some people work M-friend, T-S, and S-Th. Most of the Sunday people can't make union meetings.

 

[UpstateNYUPSer(Ret)]

Wondering how this is gonna be done? Over a weekend? We have some people work M-friend, T-S, and S-Th. Most of the Sunday people can't make union meetings.

It is impossible to schedule a meeting which all members could attend----even if it were not all members would attend. We had a meeting on the proposal to rehabilitate our pension plan and those members who were unable to attend were allowed to vote ahead of time on the proposals.