Book here....this has been an interesting read! First
@UpstateNYUPSer there isn't a rule of 85. Second
@Brownslave688 I can't figure out how the company can just put the pension monies into your 401k without them somehow being earned. I believe the amount thrown around was about $20,800. The percent that comes out of our checks and is put into the 401k is a percentage of our earnings. I'm confused on that whole scenario. Third
@104Feeder, before the (all compensible hours) that you speak of in the WCTPF, you were paid up to 160 hours a month. If you reached that threshold you got the peer hours, which gave you a total of 173.3. The yearly total is 2079.6. Even with this (all compensible hours) that you speak of you have a max of, you guessed it 2080. February always had at least 20 days, so if you had a paid day for all 20 days you got your 160 hours and the peer. Fourth, and this is just me thinking here....isn't the limit that can be put into the 401k around $18,000.? How can you have both?
@Brownslave688, if you got what you wanted and somehow the 401k was structured in such a way as to allow the pension contributions to be deposited into it, wouldn't all employees then have to wait until 59 1/2 to retire, I mean how liberal do you want this thing to be? If that were the case I do see an upside to our current pension system at UPS.
@Wally, you bring up a great point about more teamster members and the state of pension funds. It will absolutely help, but you know who fights a little harder to keep this from happening than you know who who doesn't seem to fight hard enough!
