I know this Forum is open to all UPS employees both Union and company and retirees but it feels like the company members have taken over for negotiation purposes. They say follow the money and the company has Billions of Dollars in stake to influence the outcome of negotiations.
@PT Car Washer … I know you are under the Central and have over 35 years service as a Part Timer. All those years that you worked over 1,800 hours are still considered part time, you do not get any credit or monetary benefit once you hit that 35 year service level. The Company is not paying a dime into your pension plan once you hit that plateau.
I understand why you never signed for a full time position, once you win a full time bid under the IBT/UPS (Central and Southern) your part time years are frozen and you begin to start getting vesting credits under the IBT/UPS pension plan as a full timer. Sure those years as a part timer qualifies as a vested year, but your monetary benefit is adjusted according to each separate formula. The six percent penalty before age 65 is the killer, that applies to each pension plan you would be under.
Years ago we had a part timer retire with 20 years part time and 10 years full time and found out he would have been better off staying part time for 30 years. I believe he was under age 55,
Both his service times under both plans were reduced over 60 percent.
It will be interesting to see how this plays out with our negotiation committees.
