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<blockquote data-quote="DELACROIX" data-source="post: 5069365" data-attributes="member: 49065">I vaguely remember that way back during the 1993 contract reading a news letter from the International stating that there were only 46 part timers collecting from the Company controlled UPS Pension Plan collecting roughly 300 dollars a month, the number of participants vested in that plan was close to what the UPS Retirement Plan for management had. At one time the Company was putting close to annually 10 times more into their pension plan than their Union part timers.&nbsp; The part timer’s pension plan has always been a money shelter for the Company, a tax write off, now nobody becomes vested (5 years) and even if they worked past 5 years most will get peanuts when they finally become eligible at age 65.The management plan was formulated to pay it’s retirees at 1/2 their base salary over the last 5 best years .&nbsp; So if a typical manager was making 150,000 a year they would be eligible for a 75,000 annual pension benefit.&nbsp; That does not include their MIP stock options or perks, and for the most part the MIP collected over the years pays more then their pension benefit.Under the Central a part timer who has 35 years service clears 25,000 a year, it does not go up from that level no matter how much they make or work past that level.</blockquote>

[QUOTE="DELACROIX, post: 5069365, member: 49065"] I vaguely remember that way back during the 1993 contract reading a news letter from the International stating that there were only 46 part timers collecting from the Company controlled UPS Pension Plan collecting roughly 300 dollars a month, the number of participants vested in that plan was close to what the UPS Retirement Plan for management had. At one time the Company was putting close to annually 10 times more into their pension plan than their Union part timers. The part timer’s pension plan has always been a money shelter for the Company, a tax write off, now nobody becomes vested (5 years) and even if they worked past 5 years most will get peanuts when they finally become eligible at age 65. The management plan was formulated to pay it’s retirees at 1/2 their base salary over the last 5 best years . So if a typical manager was making 150,000 a year they would be eligible for a 75,000 annual pension benefit. That does not include their MIP stock options or perks, and for the most part the MIP collected over the years pays more then their pension benefit. Under the Central a part timer who has 35 years service clears 25,000 a year, it does not go up from that level no matter how much they make or work past that level. [/QUOTE]

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