UpstateNYUPSer(Ret)
Well-Known Member
This is not unlike when UPS declares a dividend on their stock payable to shareholders as of a certain date. This dividend is payable whether the shareholders still holds the shares or sells them the day after the dividend has been declared and paid.
Corporations have been dealing with this issue for years. They must cut retro checks for all regular employees on the books as of the start date of the contract in question for all hours worked at both straight and overtime rates. The checks will be distributed in the same manner as the weekly paychecks. Paychecks for employees no longer with the company will be sent to the address on upsers.com and, if returned undeliverable, will be either turned over to the union or forwarded to the state as unclaimed funds. The company has no right to hold on to funds earmarked for employees, whether they were here for a few weeks or 50 years.
Corporations have been dealing with this issue for years. They must cut retro checks for all regular employees on the books as of the start date of the contract in question for all hours worked at both straight and overtime rates. The checks will be distributed in the same manner as the weekly paychecks. Paychecks for employees no longer with the company will be sent to the address on upsers.com and, if returned undeliverable, will be either turned over to the union or forwarded to the state as unclaimed funds. The company has no right to hold on to funds earmarked for employees, whether they were here for a few weeks or 50 years.
