Yes last time I heard. Not sure going forward.
No mention of 25 and out Pension Pay in the teleconference
- Thread starter 1whofan
- Start date
Yes last time I heard. Not sure going forward.
Local612/3540
Member
Go to Upsers.com. In the search bar type in Retirement Calculator. It will give you exactly what YOU will receive based on the date you plan to retire.
Raw
Raw Member
Drivers don`t deserve more pension after only 25 years!
Just A UPS Guy
Bully.
PT years count at .5 per year. 2 years PT count as 1 year of service.
brown_trousers
Well-Known Member
I dont believe so. All years of service whether part time or full time count the same. But 80-and-out only determines when you can retire. as for how much money you get, thats a completely seperate calculation.
here is quote from the WCTPT website:
"The Plan uses a calendar year for determining whether you have earned a year of contributory service towards your PEER points. For each calendar year that you work at least 500 covered hours under a PEER pension agreement, you earn a point."
since part-timers are also working under a peer plan, peer-84, they receive their "1 point" of service for every year they work 500 hours or more
Over70irregs
Well-Known Member
Summary 1 PT year = 1 FT year *Note pension payment for PT is lower than FT for obvious reasons.
seems like the 1997 pension ups offered was a reasonable offer...it was I believe matched by the unions..consider how the individual locals (unions) couldn't sustain it and lowered the pensions thru the years.......consider that if ups offer was agreed to the pension amounts would have been more than the original 1997 amounts......just some thoughts and observations on the difference between planning and not planning.......as I have mentioned before take a look at how the aim mechanics and airline mechanics and see professionalism and planning.......now take a look at the teamsters way ....
you are correct and I do know that.......I wanted to keep it addressing pensions....personally I would rather have the money over the years and invest myself ......at some point there will be no defined pensions ..
From strictly a balance sheet standpoint, odds are the company could indeed easily do just that. In terms of practicality given the current strain on staffing and not having enough skilled veteran drivers to contend with bad loads and a GPS algorithm based dispatch program seemingly designed to frustrate new hires into quitting within weeks if not mere days, they'd likely never sweeten that pot due to the fear that there'd be a rush to the exits.
They don't have enough proven veteran talent left anymore on the delivery side as things stand now. The last incentive they would ever offer at this point is something that would thin out what are already increasingly depleted ranks.
