Pension Plan Questions????

[mikestrek]

Are all of you just as confused about the pension plan? Management doesn't inform employees about the pension because 1) Management doesn't have control over the pension. 2) It's to confusing and 3) They don't have time. Our Local union doesn't inform employees about the pention because 1) It's to confusing and 2) They don't have time.

Question 1. Do part time years count the same as a full time year?

Question 2. Do you have to work 2 part time years to equal 1 full time year?

Question 3. How much will I make when I retire?

Question 4. How many years do I have to work before I can retire?

Question 5. If I leave early can I get at least some of my pension?

Question 6. Am I peer 80? peer 82? peer 84?

Question 7. Is each state different?

These are just some of the questions I hear from other drivers and loaders around our center and nobody knows any of these answers. I'll bet most folks in this forum don't know these answers. If you do, Good for you.

I had to search on my own for these answers. No help from Management or our local union. I say we deserve to be updated on all these questions and more about our pensions. I pay $72.00 a month in union dues, Please hand me a flier once in a while and update me on our pension plan.

 

[upsgrunt]

I don't know the exact answers to your questions, but I do know that you want to earn a pension, not a pention. Unless, you have a penchant for misspelling.

 

[mikestrek]

I don't know the exact answers to your questions, but I do know that you want to earn a pension, not a pention. Unless, you have a penchant for misspelling.

MY BAD. P-E-N-S-I-O-N. Happy now?

 

[helenofcalifornia]

2000 hours worked equal 1 full year pension. At the bottom of your check it will tell you how many hours you have worked so far this year. If you have worked for UPS awhile you can go to the Teamsters and they usually have someone come down once a month and talk with you as to what you will make exactley. Some of these retired guys that are online know better than me.

 

[mikeb]

Once this contract is finalized, its time we start demanding answers from our union. What are we getting for $72 a month. The least we should expect is solid, definitive answers to our pension questions. There should be a website that can easily answer all your questions. Every member should know when they're going to get their pension and at what age, how much, etc. Surely $72 will buy u that.

 

[av8torntn]

Once this contract is finalized, its time we start demanding answers from our union. What are we getting for $72 a month. The least we should expect is solid, definitive answers to our pension questions. There should be a website that can easily answer all your questions. Every member should know when they're going to get their pension and at what age, how much, etc. Surely $72 will buy u that.

They told me that I could go to the central states website (centralstatesfunds.org) and I could get the information. I went there put in everything they asked and it said we are unable to give this information at this time due to ongoing negotiations. ??? What a joke.

 

[satellitedriver]

Are all of you just as confused about the pension plan? Management doesn't inform employees about the pension because 1) Management doesn't have control over the pension. 2) It's to confusing and 3) They don't have time. Our Local union doesn't inform employees about the pention because 1) It's to confusing and 2) They don't have time.

Question 1. Do part time years count the same as a full time year?

Question 2. Do you have to work 2 part time years to equal 1 full time year?

Question 3. How much will I make when I retire?

Question 4. How many years do I have to work before I can retire?

Question 5. If I leave early can I get at least some of my pension?

Question 6. Am I peer 80? peer 82? peer 84?

Question 7. Is each state different?

These are just some of the questions I hear from other drivers and loaders around our center and nobody knows any of these answers. I'll bet most folks in this forum don't know these answers. If you do, Good for you.

I had to search on my own for these answers. No help from Management or our local union. I say we deserve to be updated on all these questions and more about our pensions. I pay $72.00 a month in union dues, Please hand me a flier once in a while and update me on our pension plan.

1. No
2. Not under the CS plan.
3. Good question, I do not know that even after 21yrs.
4. It keeps changing.
5. Depends on how early you leave, less than 5 yrs, no.
6. Never heard of a peer.
7. Not each state is, but regions or conferences are different.

 

[browned_out]

I can answer one of your questions-peer 80, 82, 84 means the number of years worked plus your age add up to one of those numbers. I believe 84 will get you 100% of your pension and health coverage, and 80, 82 will give you 65-75%. I could be off a little on the 80, 82. We have this in the Western conference pension.

 

[bears2]

2000 hours worked equal 1 full year pension. At the bottom of your check it will tell you how many hours you have worked so far this year. If you have worked for UPS awhile you can go to the Teamsters and they usually have someone come down once a month and talk with you as to what you will make exactley. Some of these retired guys that are online know better than me.

at least in the central region its 1801 hours is equal to 1 year,not 2000 hours

 

[bears2]

a part time year is fishy,and which region your in matters to.
1 thing i know for sure is 2 part time years doesnt equal squat.1 part time year is divided by a number but i would need to know your region to tell you.Its the details left out as to why you cant get a answer.

my local pension office told me to contact ups,that ups has given them no info on the new pension plan.

work til your 50 but then take massive penatlies.work til your at leats 60 yto make the penalty do-able

 

[cachsux]

6. Never heard of a peer.

Sat,
A peer is a relatively new term in the pension lingo. Its a structure that sticks out into a body of water (lake or ocean) that one jumps off of when you realize how much your pension has tanked in todays economy.

 

[sortaisle]

Sat,
A peer is a relatively new term in the pension lingo. Its a structure that sticks out into a body of water (lake or ocean) that one jumps off of when you realize how much your pension has tanked in todays economy.

Too funny! How long do you sit there and stare at the screen before you come up with your jokes? Or is it spontaneous?

 

[cachsux]

You see there is a formula,much like Einsteins theory of relativity,that determines the level of humor factoring in such variables as amount of sleep,alcohol intake,abundance of sexual activity,etc. It`s hard to translate into terms the layman could understand.

 

[Catatonic]

You see there is a formula,much like Einsteins theory of relativity,that determines the level of humor factoring in such variables as amount of sleep,alcohol intake,abundance of sexual activity,etc. It`s hard to translate into terms the layman could understand.

It`s hard to translate into terms the sober layman could understand.

 

[MD Dan]

You have to go to your local union to determine your pension. Each local union has it's own plan or belongs to a group of locals that share a plan. The company has no say in how much your pension will be or how it will be payed out. Talk to the Health and Welfare department in your local union. They will be able to answer your questions. Since the company doesn't hold our pensions your management won't have any answers for you. You're right though--it sure can be complicated.

 

[UpstateNYUPSer(Ret)]

You see there is a formula,much like Einsteins theory of relativity,that determines the level of humor factoring in such variables as amount of sleep,alcohol intake,abundance of sexual activity,etc. It`s hard to translate into terms the layman could understand.

So is it an inverse ratio? If you are getting plenty of sleep, limiting the alcohol intake and not getting laid, are your jokes usually less funny? On the other hand, if you are up all night, binge drinking and ..., are your jokes usually more funny?

 

[BrownSuit]

2000 hours worked equal 1 full year pension.

Somebody else mentioned it, but 2,000 hours is awfully high. Keep in mind if you are working a 40 hr a week job (which UPS is not) 2,080 hours is a full year.

That would mean you'd have to work all but 2 weeks to be considered invested for a year. Given our propensity for overtime, it would likely be all but 4 weeks . . . but that's still a lot considering vacation, holidays, and work slowdowns.

 

[Babagounj]

Local 25 plan's is 1800 hrs a year = full year of pension credit.
0hrs - 275hrs = no credit
after that its about every 200 hrs the pension credit months start to grow.
Back when I was p/t , I worked megahours thus many years I gained full pension years credit. Which will give me 30+ yrs credit by the time I reach min retirement age (57 ).
Basically all one had to do was average 35 hrs a week to get a full year's credit.

 

[govols019]

Wouldn't your part-time years fall under a different pension plan. I know mine is.

 

[Babagounj]

Wouldn't your part-time years fall under a different pension plan. I know mine is.

no