UpstateNYUPSer(Ret)
Well-Known Member
I would be lying to say that I would have the same standard of living if the pension that I hope to be there is not there but I would be OK.
No guarantee after December 31, 2012?
- Thread starter trickpony1
- Start date
I would be lying to say that I would have the same standard of living if the pension that I hope to be there is not there but I would be OK.
trickpony1
Well-Known Member
20 posts and 745 views and we know even less than when we started.
Amazing.
Die thread! die!
Amazing.
Die thread! die!
UpstateNYUPSer(Ret)
Well-Known Member
The contract and all of the articles within, including the financials, will be in effect through July 31, 2013, or sooner if a new deal is ratified.
No one knows what the heck you are talking about.
You made a confusing post that mixes up several issues.
What "guarantee" are you referring to? Vesting? ERISA? PBGC? Restored Early Retirement? Lump Sum? What???
There is a legitimate concern about the fact that UPS' involvement with the new "UPS/IBT Full-time Employee Pension Plan" is governed by the Collective Bargaining Agreement which expires at midnight July 31, 2013 ( unless amended, extended or re-negotiated.) Continuing the new Plan and UPS' contributions to it beyond the expiration date of the current Union Contract depends on whatever pension details may or may not be negotiated into the next Contract.
Full-time Central Staters voted to be in this vunerable situation, where their entire pension situation is up for re-negotiation with each Contract expiration.
But you didn't mention the new fund, just the old fund, however.
You can lead a horse to water but can't make him drink.
trickpony1
Well-Known Member
JonFrum-
You're one of the people whose posts I look forward to reading.
I need some sleep but will discuss issues with you later.
Thanks.
You're one of the people whose posts I look forward to reading.
I need some sleep but will discuss issues with you later.
Thanks.
brownmonster
Man of Great Wisdom
I rely on a union pension, Social Security, and a growing stock market to live the retirement high life. All 3 are a crap shoot.
brett636
Well-Known Member
I'm on the same plan. Ultimately the only person you can count on to provide a secure and fullfilling retirement is yourself. Everybody else can, and probably will, let you down.
satellitedriver
Moderator
The only guarantee that is in the present contract concerning persons covered under Central States.
If Central States can not meet it's pension obligation to people that retire under this contract, the UPS/teamster retirement plan will make up the short fall.
satellitedriver
Moderator
Also,
Central States future retirees need to carefully research the health insurance "offered".
What is "offered" is substandard coverage, for the cost.
To fully protect oneself, and their family, one will need to purchase supplemental coverage.
Central States future retirees need to carefully research the health insurance "offered".
What is "offered" is substandard coverage, for the cost.
To fully protect oneself, and their family, one will need to purchase supplemental coverage.
trickpony1
Well-Known Member
Bingo!
After 29 replies and 1347 views we finally get a straight answer.
It doesn't look good after this contract ends.
I must be the only person on this forum that remembers the contract being rammed down our throats early. There are people in our hub that believe the H,W, Pension package has a different ending date than the actual contract due to the "good buddy" deal with the company to get the last contract passed real quick.
I have been told numerous times everything is good until July 31, 2013.
"But trickster, why don't you call here?", "why don't you call there?", "why don't you ask so and so?" A phone call and 25 cents might buy you a cup of coffee.
I want to see it on paper and somewhere other than our pretty contract book.
Thanks Sat driver for clearing things up.
BTW-How many of us actually think the company is gonna offer us a better H,W and P package for the next contract?
brownmonster
Man of Great Wisdom
Many people in 97 when we struck wanted to take the company offer of a pension of 100 per month per year of service. Who can you trust.
If this is the guarantee you were talking about, why didn't you just come out and say so in your original post?
The point was made and discussed on Browncafe and TDU and DenverBrown several years ago. Don't blame us like we're ignorant or can't give you straight answers.
Obviously, everything in the Contract must be re-negotiated when the Contract is due to expire, including all the pension language. Full-time Central Staters voted to move their pension coverage to a new fund that is entirely dependent on the language in each new version of the Contract, thus giving UPS tremendous bargaining power.
I see you are still in conspiracy mode regarding Dec. 31, 2012.
trickpony1
Well-Known Member
"....thus giving UPS tremendous bargaining power.".
.....and you wonder why I'm in conspiracy mode?
BTW, this FT CS'er didn't vote yes on the contract.
.....and you wonder why I'm in conspiracy mode?
BTW, this FT CS'er didn't vote yes on the contract.
satellitedriver
Moderator
Central States is the sole health provider in retirement and a retiree will have to pay CS for substandard coverage.
Once one retires, UPS is out of the loop.
While one is working at UPS full time, UPS pays about $1,330 a month to provide full coverage,
-(dental, vision, prescriptions, doctor visits, major medical, ect...)-,
and this will not change under the new contract.
I had plenty of time last year to investigate what is promised by CS, if I retired, and what CS will deliver.
I was appalled at the lack of knowledge, and concern, by the CS representatives.
I also contacted the new UPS/teamster pension plan and was impressed with the professionalism and clear, concise answers the representatives provided.
I wished to retire this year, but the insurance issue convinced me to change my mind.
Trick,
I asked a direct question, to a key person in the UPS/teamster retirement plan, about the "guarantee" to cover the short fall if CS could not meet their "promises" in the next contract.
The exact words spoken to me were,
"That will not be an issue in the next contract, we-(UPS)- will keep the same promise."
I know promises are like a kisses in moonlight, but it was a helluva lot better than the BS I got from CS.
Old International
Now driving a Sterling
In this economy, You can be sure that central states will get worse. Yellow hasn't made their payments to CS, and the fund is still on the troubled list. You can almost bet that unless UPS gets a major concession on wages and work rules, that both medical and retirement will be changed, and not for the better. I hope that the employees see this, and direct the union as to which we want to keep. I would much rather have the medical and retirement, as those costs increase far faster then the the rate of inflation.
trickpony1
Well-Known Member
That would be an ideal situation but I don't think it's gonna happen for several reasons:
1) too many employees are convinced the union and the company will take care of them, kinda like our countrys president and his leaning towards socialism and;
2) the company and the union are gonna do what they want. The contract proposals, local union meetings about said proposals and the tough talk right before voting time are all gestures and tokens to add to the hype.
What kind of concessions on work rules do you think they will want?
BigUnionGuy
Got the T-Shirt
That's not entirely accurate.
The are about 5 Local's in the Central Region that have company insurance.
Mine included.... Much better deal in retirement than Central States.
-Bug-
BigUnionGuy
Got the T-Shirt
Where else do you think it would be ?
Did you bother to read the materials sent to you.... showing all the changes in the contract language ? Before you voted ?
Did you go to your Local's meeting....to review the changes..... To ask questions or get clarification ? Doubt it.
This whole thread is a classic example of Upser's lack of involvement.... And then wanting to be spoon fed, what they want to hear.
-Bug-
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