More gloom and doom..CS is tanking

[Catatonic]

You disagree that you should wear pants?

In the house? ... I strongly disagree.
First thing I do is take off my pants and shoes.

 

[IVE GOTTA PACKAGE 4U]

In the house? ... I strongly disagree.
First thing I do is take off my pants and shoes off.

Lucky wife....lucky she doesn't beat you.

 

[toonertoo]

This cutting of the pensions for us old broken down retired guys is only a foot in the door of things to come. Eventually all pensions will go the way of the dinosaur. Most everything the old time Union workers had fought for and even died for and is enjoyed by those working today(vacations, excellent pay, insurance, seniority, etc.) will slowly be eaten away (its already started from what I read on here) until working at UPS is no different than working at any other low pay no benefits job. The only way to reverse this trend is to become united and stand up for what is rightfully yours. If the company was losing money or even had a so-called bad quarter things might need to be re-negotiated but that is not the case now.

So now they tell an 80 yr old man ( I know you are not) to re enter the workforce?

 

[toonertoo]

Find out more tomorrow:

Town Hall Meeting Calls

1-877-327-9495 passcode 111566

Retirees: April 14th 5 pm Central

Active: April 14th 8 pm Central

Hopefully I will be able to be on it, but I may have to do it on the clock. I will make sure to save 29 minutes of my lunch

 

[Mugarolla]

I got my letter this am in the mail, but had the website address already. I pulled up a TDU letter from Apr 10 2009 and according to it if you retired between Jan 1 2008 and July 31 2013 your pension is guaranteed by UPS. I had back surgery in 2008 and retired in Nov 2008 so I don't know if there is anything in the new contract language that says anything different! Guess we can just keep our fingers crossed or file a class action lawsuit against UPS if we lose our pensions!

Yes. It was put in the 2008 contract and stayed in the 2013 contract.

But it can be negotiated out during any future contracts. Let's hope not.

 

[rod]

So now they tell an 80 yr old man ( I know you are not) to re enter the workforce?

We are getting up there where even being a Walmart greeter is out of the question.


The sad thing is the fight over controlling our pension was the main reason for the strike back in 96. The Union didn't want to let the company take it over. The bottom line is if the Teamsters Union wouldn't have made a big stink over it those of us with our heads on the chopping block now would be ok. As it is, the way I understand it, with a snap of their fingers in 2016 two thirds of our pension is gone. No matter how well you planned for retirement that will hurt.

 

[UpstateNYUPSer(Ret)]

Don't forget these times are CST

Hence the inclusion of the word Central in the post.

 

[P700slave]

Why not raise retirement age?

Im already going to have to work until age 62, that will give me 43 years with UPS. I think that's enough. I thought the whole reason UPS bought our pension out a few years back was to prevent this from happening. Could someone please clarify this?

 

[Wally]

Im already going to have to work until age 62, that will give me 43 years with UPS. I think that's enough. I thought the whole reason UPS bought our pension out a few years back was to prevent this from happening. Could someone please clarify this?

I was thinking 35 and out for the newer guys. Would the extra 5 years make a difference in the pension funding?

 

[upschuck]

I was thinking 35 and out for the newer guys.

CS has a 25 and out. The newer guys would be in the UPS/IBT plan exclusively, which is funded over 105%

Would the extra 5 years make a difference in the pension funding?

Five more years of contributions, and five less years of disbursements. I would think so.

 

[oldngray]

CS has a 25 and out. The newer guys would be in the UPS/IBT plan exclusively, which is funded over 105%

Five more years of contributions, and five less years of disbursements. I would think so.

25 and out is only still in a few places. Mostly it is 30 or 35 depending on age.

 

[Inthegame]

As it is, the way I understand it, with a snap of their fingers in 2016 two thirds of our pension is gone. No matter how well you planned for retirement that will hurt.

Not quite a snap of the fingers...
Anyone over 80 will not be reduced.
Anyone out on a disability pension will not be reduced. Anyone retiring from UPS since 2008 will not be reduced.
The max reduction for all others could be 60%. Very unlikely and unnecessary. Any cuts also must pass a vote of all affected pensioners.
The other option is to let it fail completely and award all future pensioners 100% of nothing.

 

[Overpaid Union Thug]

So glad we got out of Central States. I'm sure some other problem will crop up though.

 

[upschuck]

25 and out is only still in a few places. Mostly it is 30 or 35 depending on age.

Would not apply to most, because of the age requirement, but if you got a late start, would be a good thing.

 

[oldngray]

So glad we got out of Central States. I'm sure some other problem will crop up though.

When we pulled out of Central States that doomed the CS plan without the UPS cash cow.

 

[oldngray]

Would not apply to most, because of the age requirement, but if you got a late start, would be a good thing.

My center used to have 25 at any age. Not many people retired then because of the reduced benefits though.

 

[Lead Belly]

When we pulled out of Central States that doomed the CS plan without the UPS cash cow.

3000$ a month in 97 doomed the central states pension fund. They had a lot of money back then but it was still irresponsible to raise that for every member.

 

[upschuck]

When we pulled out of Central States that doomed the CS plan without the UPS cash cow.

I wouldn't say it doomed it, it was well on the way before that happened, but it was sure another nail in the coffin.

 

[brownmonster]

3000$ a month in 97 doomed the central states pension fund. They had a lot of money back then but it was still irresponsible to raise that for every member.

That's what UPS offered if we switched. They didn't have much choice.

 

[BigUnionGuy]

Yes. It was put in the 2008 contract and stayed in the 2013 contract.

But it can be negotiated out during any future contracts. Let's hope not.

I really don't see that happening.

Who would want 75 year old package car drivers ?


If it did happen.... there would be a massive exodus, before ratification of the next contract.



-Bug-