is there any chance of 25 and out at any age next contract?

[menotyou]

I am 58yrs old with 25yrs.
I am under the old CS plan and the new UPS/teamster plan.
$2,500 becomes $2,190 for your spouse to receive 75% of that $2,190 upon your death. -($1641.50)
After average taxes of 20%, that leaves $1,752.00 a month.
Now deduct $800 a month for sub-standard health insurance.
-( which one can not get if they are under the age of 57)-
By sub-standard I mean;
No Dental
No Vision
20% on all major medical
Limited discount on RX
And the kicker is!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
$150,0000 a year maximum.
I can buy better coverage through AARP for less money.
This leaves me with $952.00 a month for retirement.
By the Grace of God, 1997 woke me up and I now could leave and prosper through financial planning.
But, I am sticking around as long as I can and sticking all the ridiculous money UPS pays me into the bank.

Boy, do you work in the wrong part of town, I mean country!

 

[UpstateNYUPSer(Ret)]

Just hoping the normal pension (whatever that is) will even be there after 30/ 35 or even more years. I'm just saying................

 

[FAVREFAN]

Wow, nice. Enjoy it when it comes.

 

[UpstateNYUPSer(Ret)]

Wow, nice. Enjoy it when it comes.

Thanks.

 

[satellitedriver]

Boy, do you work in the wrong part of town, I mean country!

Right country, I mean Texas.
Wrong union.

 

[dniebster]

Are these after tax quotes or before tax?

 

[Hellobrown2000]

I still get amazed that people complain and place the majority of blame on the pension with UPS. Up in New England, we pay into the pension fund based on hours paid (with a max of 40). I know back in 94 time frame, we contributed about $2.60/hr into the pension fund, now I believe it's about $5.00/hr into the pension fund. At $5/hr thats $200/week or $10,400/yr assuming you get paid 40 hrs (or more) each week. I know oversight of the pension fund is half employers, half teamsters. But for the employers, UPS only has a portion of the vote. Many other employers pay less then what UPS contributes. Also, think of all the part timers who UPS contributes for (In New England, Part time is in the same pension fund). but doesn't stay the 5 years it takes to vest. Think of all that money that goes into the pot. That money has been seriously mismanaged.

Yea anybody would be crazy not to think the union is to blame just as much as ups. They scratch each other's backs.

 

[slantnosechevy]

I have my copy of 710 s contract and pension plan info and I don't see anything like that in there. None of the guys who have retired lately at our center ever mentioned anything like that either.

And you wont see anything like that in 710's Pension Plan. As good as 705's sounds.......well now you know why their plan took a severe beating recently and is in the red. Seems they invested un-wisely in real estate that tanked. Couple that with paying the $1000 bonus and you have a plan that is in the RED. 710's is over 2 billion strong and in the GREEN. Be happy if you're in 710....... new equipment aside.

 

[710 steward]

Slant

You have to be kidding. Be happy that 710's fund is 88% funded?? A 25 year pension pays out $2800 a month now deduct federal taxes. What a joke. UPS contributed $401 a week per employee last year and that number is going up without an increase in the last 20 years. I am anything but thankful to be in this fund and neither should any member who has contributed to it over the last 10 years.

 

[slantnosechevy]

Slant A 25 year pension pays out $2800 a month now deduct federal taxes. What a joke.

Here's a plan.....freeze your pension and take a withdrawal card. Get out if you don't like 88% funded. There are many locals who would love to have 710's numbers. They aren't going to raise the pension payout anytime soon. 42% of the local could retire tomorrow and not all at 25 years. Many of those in feeders have their 35. Do you know what kind of hit that would be? 710 does and thank God those trustees don't listen to idiots like you.

 

[Lizzzow]

I have to be honest I am totally amazed when I talk to people at work and they are so sure they are going to have a pension 25 years from now. Will we? Maybe or maybe not. Some don't have any other plans of saving up on their own. Some don't have a separate 401k. They just think their ups/teamster pension will be there for sure and thats all they need. I'm counting on and planning for it not to be there. Hope I'm wrong but if I'm not, at least I won't be worried when I'm ready to retire from this gig. The pension is nice don't get me wrong. But seriously, if u can't trust the union to fight hard for u now what's it going to be like in 25 years?

 

[UpstateNYUPSer(Ret)]

I have to be honest I am totally amazed when I talk to people at work and they are so sure they are going to have a pension 25 years from now. Will we? Maybe or maybe not. Some don't have any other plans of saving up on their own. Some don't have a separate 401k. They just think their ups/teamster pension will be there for sure and thats all they need. I'm counting on and planning for it not to be there. Hope I'm wrong but if I'm not, at least I won't be worried when I'm ready to retire from this gig. The pension is nice don't get me wrong. But seriously, if u can't trust the union to fight hard for u now what's it going to be like in 25 years?

I would be lying if I said that my projected $5K/month pension will not be the major funding source for my retirement. Yes, I have a separate 401k and Roth IRA and will have SS, but the loss of my pension would be a very hard void to fill.

 

[cino321]

I would be lying if I said that my projected $5K/month pension will not be the major funding source for my retirement. Yes, I have a separate 401k and Roth IRA and will have SS, but the loss of my pension would be a very hard void to fill.

Absolutely.

 

[710 steward]

Slant

Here's a news flash for you. My pension is frozen. Because I am angry that 710 has done a miserable job maintaining our fund hardly makes me anti union. The fact that I care and worry about the future membership makes me a die hard.

The fact that you and literally a handful of the membership celebrate an underfunded pension system is frightening. How as a union do we recruit other businesses to join our cause? Join us and you to can be in a fund that you may not draw everything you paid in. How many people do you think would stand in line to join that. They are already worried about SSI.

 

[instantK]

I have 8 years at PT. how does that factor in

 

[instantK]

"
You really don't think your body can handle working until the age of 49?

Read more: http://www.browncafe.com/community/...t-any-age-next-contract.338812/#ixzz2w8Io6snz"

Our sup says if you use the methods correctly you could technically do this job till your 80

 

[PT Car Washer]

The Central Region has a 25 and out pension. $2000 a month at any age or $2500 a month after 57.

 

[beentheredonethat]

Yea anybody would be crazy not to think the union is to blame just as much as ups. They scratch each other's backs.

As much as UPS? The 1/2 employers is all teamster employers. For a long time, UPS had NO ONE on the board of the pension funds. We still only make up a small portion of the overall vote (UPS). Many companies have people on the board that are interested in the best deal for their company as well as the overall teamster plan, which by definition they have a fiduciary responsibility for.

 

[Lizzzow]

I have 8 years at PT. how does that factor in

That's 8 years of your life you'll never get back.

 

[jumpman23]

Nowadays you might as well give up on working more than 15 to 20 years in package if you started driving after the year 2000. Never happen with how hard this job is now. 25 to 30 impossible after the year 2000.