Local 710 - how are you voting

[710 steward]

Baboon

Hitting disagree for all the posts honestly doesn't do much for your counter argument. You mention big fat pension in one of your posts. What does a 25 year pension check net??? Do you know??? I do and it's $2450 a month after taxes. I netted over $1300 this week alone and next week's check will look similar. So in two weeks I have brought home more than a person who retired last year. This is the fat pension check you are referring to??? Now start deducting additional dollars for Teamcare coverage and guess what happens??? Let me guess you aren't sure so I'll explain it for you. The gas bill goes up. Groceries go up. Teamcare goes up but the pension check goes down.

HollandMan73 is correct. Funding is creeping up on a dollar for a dollar which is inexcusable. Over 17 years have gone by without a raise or an alternative for retirement but every year I pay more into the fund. We are at historic levels for paying into a fund to receive the least out of it. If this makes me a complainer so be it. Regardless what KH tells you its wrong to expect people to continue down this road. My idea does not make unions look bad. What makes unions look bad is when they accept money on your behalf and in turn give you pennies on the dollar for your hard work. Don't believe me?? Take the numbers to a CPA you trust and let them do the math. You won't like what they have to say about what you are funding vs what you'll receive.

 

[babboo25]

Baboon

Hitting disagree for all the posts honestly doesn't do much for your counter argument. You mention big fat pension in one of your posts. What does a 25 year pension check net??? Do you know??? I do and it's $2450 a month after taxes. I netted over $1300 this week alone and next week's check will look similar. So in two weeks I have brought home more than a person who retired last year. This is the fat pension check you are referring to??? Now start deducting additional dollars for Teamcare coverage and guess what happens??? Let me guess you aren't sure so I'll explain it for you. The gas bill goes up. Groceries go up. Teamcare goes up but the pension check goes down.

HollandMan73 is correct. Funding is creeping up on a dollar for a dollar which is inexcusable. Over 17 years have gone by without a raise or an alternative for retirement but every year I pay more into the fund. We are at historic levels for paying into a fund to receive the least out of it. If this makes me a complainer so be it. Regardless what KH tells you its wrong to expect people to continue down this road. My idea does not make unions look bad. What makes unions look bad is when they accept money on your behalf and in turn give you pennies on the dollar for your hard work. Don't believe me?? Take the numbers to a CPA you trust and let them do the math. You won't like what they have to say about what you are funding vs what you'll receive.

Say you work minimum 25 years, we average 80k+ year, that's over 2 million dollars before taxes. If you can't invest and save enough money to retire then you are living outside your means. I would love higher contributions to benefits, not happening as long as our wages go up. I save and invest as if pension doesn't exist, not relying on UPS or the teamsters, that's totally irresponsible and lazy. Start saving, plain and simple.

 

[BigUnionGuy]

Funding is creeping up on a dollar for a dollar which is inexcusable. Over 17 years have gone by without a raise or an alternative for retirement but every year I pay more into the fund. We are at historic levels for paying into a fund to receive the least out of it. If this makes me a complainer so be it. Regardless what KH tells you its wrong to expect people to continue down this road. My idea does not make unions look bad. What makes unions look bad is when they accept money on your behalf and in turn give you pennies on the dollar for your hard work. Don't believe me?? Take the numbers to a CPA you trust and let them do the math. You won't like what they have to say about what you are funding vs what you'll receive.

There is only one problem, with that line of thinking.

You're not taking in to account what your fund is paying out to retirees.

If you have one participant paying in.... and the fund is paying out to 4 retirees....

It's simple math.



-Bug-

 

[710 steward]

Say you work minimum 25 years, we average 80k+ year, that's over 2 million dollars before taxes. If you can't invest and save enough money to retire then you are living outside your means. I would love higher contributions to benefits, not happening as long as our wages go up. I save and invest as if pension doesn't exist, not relying on UPS or the teamsters, that's totally irresponsible and lazy. Start saving, plain and simple.

You are missing the point. What is being set aside for our future isn't benefiting us any longer. It's not. Why is that acceptable? My 401k has over 6 figures in it. I am ok but if the union needs to stop acting shocked that we expect more for $400+ a week funding.

 

[710 steward]

There is only one problem, with that line of thinking.

You're not taking in to account what your fund is paying out to retirees.

If you have one participant paying in.... and the fund is paying out to 4 retirees....

It's simple math.



-Bug-

Bug

I get it. My point is you freeze the monthly benefit and the union and the member split the weekly raises that way increases still happen for the fund and the member can also get a retirement increase for their 401k. That's fair.

 

[BigUnionGuy]

Bug

I get it. My point is you freeze the monthly benefit and the union and the member split the weekly raises that way increases still happen for the fund and the member can also get a retirement increase for their 401k. That's fair.

I hear ya.

Problem is.... getting everyone to agree.

Put 100 people in a room, and you will have 100 opinions on what to do.



-Bug-

 

[babboo25]

You are missing the point. What is being set aside for our future isn't benefiting us any longer. It's not. Why is that acceptable? My 401k has over 6 figures in it. I am ok but if the union needs to stop acting shocked that we expect more for $400+ a week funding.

No you are missing the point, where is that $1300 week going? Quit complaining and start saving. We drive a truck and make top $, SAVE YOUR MONEY

 

[babboo25]

Bug

I get it. My point is you freeze the monthly benefit and the union and the member split the weekly raises that way increases still happen for the fund and the member can also get a retirement increase for their 401k. That's fair.

You want a 401k increase? Go to prudential website and raise your monthly contribution.

 

[710 steward]

You want a 401k increase? Go to prudential website and raise your monthly contribution.

Let me try this another way. If $402 weekly is funding a 25 year pension at $2800 a month, why should any company paying into the fund be forced to contribute more yearly if their employees are not seeing the benefit of annual increases? Let alone 17 years worth of increases without watching even an extra penny on the check.

 

[HollandMan73]

There is only one problem, with that line of thinking.

You're not taking in to account what your fund is paying out to retirees.

If you have one participant paying in.... and the fund is paying out to 4 retirees....

It's simple math.



-Bug-

Actually....workers that have retired with 30 years in should be getting payed based on their PREVIOUS 30 years of contributions! Why should we be responsible for their retirement? Our pension payout for 30 should be almost double by now at these rates! The pension fund is making a great case for getting rid of the pension all together.....its becoming a Ponzi scheme...at least in our region. I know the Western Conference is a solid healthy pension.

 

[O/C]

Let me try this another way. If $402 weekly is funding a 25 year pension at $2800 a month, why should any company paying into the fund be forced to contribute more yearly if their employees are not seeing the benefit of annual increases? Let alone 17 years worth of increases without watching even an extra penny on the check.

Are you guys getting any better formula than a service benefit, for example in the IBT/UPS plan you obtain a higher benefit if you have worked 20 or more years after age 60 (170 per credit year)?

Still remember a UPS executive swearing before congress that with the monetary rate that they were putting into an individual members account that after 30 years would be playing the retiree over 50,000 annually. Just thinking those figures would of improved since 2006.

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[710 steward]

Are you guys getting any better formula than a service benefit, for example in the IBT/UPS plan you obtain a higher benefit if you have worked 20 or more years after age 60 (170 per credit year)?

Still remember a UPS executive swearing before congress that with the monetary rate that they were putting into an individual members account that after 30 years would be playing the retiree over 50,000 annually. Just thinking those figures would of improved since 2006.

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The 710 plan has a benefit of $2800 monthly for 25 years. After that you get $100 a year additional until your 35 year of full time service to max your monthly benefit to $3800. If one is in feeder or has an a combo position that's not generally a problem attaining that kind of years but most package car drivers are completely worn out after 30 years max.

 

[BigUnionGuy]

Actually....workers that have retired with 30 years in should be getting payed based on their PREVIOUS 30 years of contributions! Why should we be responsible for their retirement?

Stand up Union guy right here.



-Bug-

 

[HollandMan73]

Stand up Union guy right here.



-Bug-

Yes, I stand up for whats right or WRONG with the Union. I guess we should get shafted and be happy about it right? How about they cut the pension payout in HALF for us so they can maintain the current payouts. At what point do you call BS? I know, I know.....never ever say anything bad about the Union or your not a good "union brother".

 

[HollandMan73]

Also B.U.G.---- please correct me if I am wrong.....Shouldn't a 30 year retirees benefit be paid based on their prior 30 years contributions? Am I missing something here? Please enlighten me....if I am wrong I have no problem admitting it.

 

[710 steward]

Let me try this another way. If $402 weekly is funding a 25 year pension at $2800 a month, why should any company paying into the fund be forced to contribute more yearly if their employees are not seeing the benefit of annual increases? Let alone 17 years worth of increases without watching even an extra penny on the check.

Baboo

It's difficult to argue your way when it's put in these terms. Your silence for 24 hours speaks volumes. This isn't about you vs me. This is about what's right for the membership.

 

[babboo25]

Baboo

It's difficult to argue your way when it's put in these terms. Your silence for 24 hours speaks volumes. This isn't about you vs me. This is about what's right for the membership.

Uh Mr Steward it was 71 outside yesterday, took the Harley out, played with the kids, its called having a life, maybe you wouldn't be so miserable if you had one. This Baboon feels sorry for you. Still waiting to have that beer.....

 

[babboo25]

Let me try this another way. If $402 weekly is funding a 25 year pension at $2800 a month, why should any company paying into the fund be forced to contribute more yearly if their employees are not seeing the benefit of annual increases? Let alone 17 years worth of increases without watching even an extra penny on the check.

Probably because our union pissed away millions building a new union hall with a fancy bar, New Tahoes, gift cards and who knows what else. But voting no on this contract isn't going to change anything. We have BA's who retire, then take a job on the grievance panel, its not right, but constantly whining on a chat room isn't going to solve anything.

 

[BigUnionGuy]

Yes, I stand up for whats right or WRONG with the Union.

Do you do that, at your Locals monthly meeting ?

Nothing wrong with voicing your opinion. But, there is a proper venue.

Also B.U.G.---- please correct me if I am wrong.....Shouldn't a 30 year retirees benefit be paid based on their prior 30 years contributions? Am I missing something here? Please enlighten me....if I am wrong I have no problem admitting it.

I'm not disagreeing with your point of view.

If you have ever read any of my posts.... I continually harp, on member involvement.

If more members got involved, things could be different.


What was your Locals voting percentage, on your recent agreement ?



-Bug-

 

[realbrown1]

Stand up Union guy right here.



-Bug-

Unfortunately he is correct. Pensions are failing all over the country because they are ponzi schemes. You simply can not take money from Peter to pay Paul and expect that to last forever.

They only true type of retirement program that works is one where money is deposited into an account for you only and letting it grow with interest over time like a 401k plan or a similar type of plan.