Management (ERO) Early Retirement Offer
- Thread starter Catatonic
- Start date
UpstateNYUPSer(Ret)
Well-Known Member
Tie; I get the feeling that this Peak is stressing you out. Your Peak posts are starting to reveal you may not bleed brown after all. Just remember that there will be a new flavor of the week or month before you know it.
TravelAgent
Member
An ERO for IT people will also result in reduced Staffing - many of my co-workers are just waiting for the opportunity to move on.
tieguy
Banned
I bleed brown but I think I'm also a realist. corporations usually follow each others lead. Once you see one of them looking to cut pay you then have to wonder when others will follow suit.
PLEASE GET A CLUE. EARLY RETIREMENT??? WHAT THE HECK ARE YOU THINKING? THERE ARE SO MANY OTHER WAYS TO SAVE MONEY!
Early retirement package? Why again? The game is set up for as many people as possible to NOT make at least partial retirement as possible AND it's getting worse. Remember, 55 is NOT full retirement. It is a partial benefit retirement with full healthcare.
It used to be, UPS saved enormous costs by losing people before they reached full retirement. Go ahead leave before 62 take your stock you have enough! They begged you.
Now the age is 55. I have seen so many uncomfortable moves made to people when they reach 54 to 56 years of age it would make your head spin.
There are many age related savings UPS has been successful in adapting without a whimper of lawsuit. Who in their right mind would take UPS on?
They only promote people in their 30's and only hire people in their 20's. Please wake up and take a look around. Do your own stroke count!!
Take a look at how old the people are who are demoted, Take a look at who replaces the demoted individual if you can see through the 3 or 4 way move and swaps that invariably means a promotion for a 20 or early 30 something. Take a look at who are the ones that are out on stress and anxiety disability or worse. Over 40? I know the answer.
Make note which ones are quitting. Note how old the people are that are being moved without being promoted and then note who is being moved AND promoted!
Yes many younger management are leaving, but guess what? If it's a 50/50 split UPS does not have anything to worry about when it comes to EEOC and reaps the benefit of putting another less costly employee in place of hopefully not reaching even a partial retirement!
Do you really truly believe the pressure coming from above is accidental or not planned? Here's an idea, lets combine jobs and ask that the same work gets done. No one will have a clue it is designed to get as many older management to fall as possible....unless someone is smart enough to look (normally only the managment out west are smart enough to look and NOT BE AFRAID).
Lets make the manager run the local sort and preload but not provide any more resources, maybe even take some away!! This started in the south (I have record from Selma, Alabama. The sups were given a driver line of 30 and the local sort.) The older employee leaving is BONUS!
Performance problem? Integrity matters? Guaranteed a factor....but isn't it odd the number of integrity and performance issues seem to multiply as you are overworked, humiliated or berated? Why so many over 40's with this malady?
Hmmmm....now do your homework. I guarantee you will see a trend that no one is looking at but the people who account for cost from retirees and older management.
I think you need to do your own evaluations about the ERO and what the REAL package is.
Myron
Early retirement package? Why again? The game is set up for as many people as possible to NOT make at least partial retirement as possible AND it's getting worse. Remember, 55 is NOT full retirement. It is a partial benefit retirement with full healthcare.
It used to be, UPS saved enormous costs by losing people before they reached full retirement. Go ahead leave before 62 take your stock you have enough! They begged you.
Now the age is 55. I have seen so many uncomfortable moves made to people when they reach 54 to 56 years of age it would make your head spin.
There are many age related savings UPS has been successful in adapting without a whimper of lawsuit. Who in their right mind would take UPS on?
They only promote people in their 30's and only hire people in their 20's. Please wake up and take a look around. Do your own stroke count!!
Take a look at how old the people are who are demoted, Take a look at who replaces the demoted individual if you can see through the 3 or 4 way move and swaps that invariably means a promotion for a 20 or early 30 something. Take a look at who are the ones that are out on stress and anxiety disability or worse. Over 40? I know the answer.
Make note which ones are quitting. Note how old the people are that are being moved without being promoted and then note who is being moved AND promoted!
Yes many younger management are leaving, but guess what? If it's a 50/50 split UPS does not have anything to worry about when it comes to EEOC and reaps the benefit of putting another less costly employee in place of hopefully not reaching even a partial retirement!
Do you really truly believe the pressure coming from above is accidental or not planned? Here's an idea, lets combine jobs and ask that the same work gets done. No one will have a clue it is designed to get as many older management to fall as possible....unless someone is smart enough to look (normally only the managment out west are smart enough to look and NOT BE AFRAID).
Lets make the manager run the local sort and preload but not provide any more resources, maybe even take some away!! This started in the south (I have record from Selma, Alabama. The sups were given a driver line of 30 and the local sort.) The older employee leaving is BONUS!
Performance problem? Integrity matters? Guaranteed a factor....but isn't it odd the number of integrity and performance issues seem to multiply as you are overworked, humiliated or berated? Why so many over 40's with this malady?
Hmmmm....now do your homework. I guarantee you will see a trend that no one is looking at but the people who account for cost from retirees and older management.
I think you need to do your own evaluations about the ERO and what the REAL package is.
Myron
negrosangre
Well-Known Member
Mentioned previously was the benefits in early retirement. What benefits are available to the early retiree, other than high priced health/medical coverage?
UpstateNYUPSer(Ret)
Well-Known Member
Where did you get the idea that retiring at age 55 is not full retirement? There is no reduction in benefits if you are 55 with 25 years of service. You get your full retirement as well as your healthcare.
Catatonic
Nine Lives
Depends on how you define "Full".
The monthly payments are less at 55 than at 60 ... by a lot (in my case >$1000/month). Actuarially the payout may be the same (Full) with NPV incorporated.
I bet you can't wait till you get to train another one!
Hoaxster - the only thing you lose in retiring at 55 and not 60 is 5 additional years of service; but, for many of us, at 55 we already have 30 odd years of service and don't really need those additional 5 years.
There really is NO reduction of pension if you have at least 25 years of service when you retire.
Catatonic
Nine Lives
You my friend did not get the memo.
There is a 3% per year reduction if you retire before age 60.
At 55, you lose 15% off your full retirement monthly benefit.
Suggest you start checking these things out before you retire.
Hoaxter - I certainly didn't. Nor did anyone else. Here is how it goes: If you are at least 55 with at least 25 years of service there is no reduction in pension. If you have at least 20 years but less than 25 years there is a 3 percent reduction for every year under 65. If you have at least 10 years but less than 20 there is a 6 percent reduction for each year under 65.
I handle the retirements for the non-union employees in my district, I actually do know what I am talking about.
In addition; before a teamster retires they make sure to check with me so that I can tell them what the best date is for them to retire (so they get the maximum number of paid days based on their employment date and separation date.)
Catatonic
Nine Lives
I just went to UPSers.com and linked off to "Retirement Calculator".
If I retire at age 55 with 36 years I get much less than if I work to 60.
I not sure how you define "Full Benefits" but $$$ less a month is not insignificant.
I'm not all that crazy about that site that calculates your pension. I haven't found them to be all that accurate.
Have you had anyone run an actual estimate for you? You can get one run if you are within 36 months - so if you're at least 52 you can get one. You can get them to run the estimates with a couple of dates as well. The estimates they run are far more accurate than the one on upsers.com.
stevetheupsguy
sʇǝʌǝʇɥǝndsƃnʎ
Hey Hoax, it looks a lot better when you spell it out to the total of $45,000 you'll be missing out on for 5 years.
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