Retirement...contract talks

[IVE GOTTA PACKAGE 4U]

We have diverted several of our split raises to the pension.

Didn't help.

Got a letter in the mail today. We are at 48.9% funded, which is up from 45.8%.

Accrual rate was cut in half to 1.3.

Cuts are coming.

It's sickening

 

[The Milkman]

Is yours being cut?

Last time I saw a pension report it looked to be underfunded, but turning the corner a bit to stay solvent. I have heard of no reduction in my current pension check

 

[UpstateNYUPSer(Ret)]

It needed to happen that far back, and with realistic expectations for returns on investment. They also needed to do the math forward to see if they were going to be able to give out what they said. Out west it's a 1.2 accrual rate at 91% funded if that shows you how aggressive our cut was. It's been that way about 7 years now. I think they were about 10-12 years behind on the wage diversion,imo.

At our most recent union meeting we discussed the pension at length. Our BA told us that it we had taken these measures back in 1997 our pension would be in much better shape today.

 

[Big Arrow Down...D]

Last time I saw a pension report it looked to be underfunded, but turning the corner a bit to stay solvent. I have heard of no reduction in my current pension check

That's good to hear...

 

[The Milkman]

That's good to hear...

This came in today's mail..Looks like it is holding steady for the most part

 

[Thegameisrigged]

Anybody know anything about this concerning our jobs and retirement. Please click on link.

 

[PT Car Washer]

We are the new Nazis? If it's on the internet it must be true.

 

[oldupsman]

This came in today's mail..Looks like it is holding steady for the most partView attachment 80130

Got my letter yesterday. Ours is funded at 71.7%. Guess I should feel lucky. Justed talked to our local President.
He said there are no plans at all at the moment to reduce retiree benefits. Current benefits however are quite possible.
But they're already receiving more than I did.

 

[rod]

This came in today's mail..Looks like it is holding steady for the most partView attachment 80130

That's the best one I've seen. Most are in the 40% range. Bottom line is it's still underfunded which gives them an excuse to do something about it when they see fit to.

 

[The Milkman]

That's the best one I've seen. Most are in the 40% range. Bottom line is it's still underfunded which gives them an excuse to do something about it when they see fit to.

Like I have said before, I would of taken a dime raise feeling that I was already making a decent wage, but dump the rest into our Health & Pension funds for our futures...The future is now for most of us

 

[The Milkman]

Got my letter yesterday. Ours is funded at 71.7%. Guess I should feel lucky. Justed talked to our local President.
He said there are no plans at all at the moment to reduce retiree benefits. Current benefits however are quite possible.
But they're already receiving more than I did.

Yes we should feel lucky as you say, because many are in the red big time

 

[hyena]

We have have a few guys retire recently. They will have a nice little pension to live off from. Some of them even make more money retired than they did when they were working.

I thought I would risk some independent thinking.

It seems the union focuses on raises. While I admit that a raise is nice let us face the facts. Just how much can a guy that juggles cardboard and schedules make an hour? Are we nearing that wage. Sure, there are no others that truly compare to what we do every day. There are some that try but none can come close. No offense intended to our competitors but they are posers.
UPS can try to say that any monkey off the street can do what their drivers do everyday. We all know the reality. Some can handle the stress while others cannot function under the pressure to perform. Some can handle the physical labor while it is easier for others to sit behind a desk.

Quite frankly...I don't think I need a raise. What I would like to see is a focus in the next contract to guarantee my retirement. I still have many years until I can see that day. I want to know that I have something there waiting from me after the years of sacrificing my body, my family time and some of my freedoms to UPS. I just don't want my retirement in any shape or form to be on the bargaining table other than to be augmented(i.e. extended healthcare). It seems that every contract we concede something to UPS that we held dear. And now that it is gone it will never come back.

How can we as union members get our voices heard when it comes to topics we want on the bargaining table during contract talks?

Simple vote!

 

[hyena]

It's too late for our pension fund.
View attachment 79908

It's never to late brother get involved and stay involved my bro

 

[twoweeled]

Let's just say I'll be gone before the next contract, and yes I'm ready.

I bet you were ready to retire after your first week in package!!

 

[Faceplanted]

How can anybody think that giving people who Mis managed out pension MORE money it's gonna fix the problem.

U gonna let your gambler friend borrow 50 bucks and really think your gonna get paid back?

The solution to this problem is all 401k matching or some type of automatic deposit into a 401k by ups. The problem is all our past pension contributions and what happens to them.

I want to control my pension my self, not a bunch of idiots who are more concerned about them selves.

 

[By The Book]

I bet you were ready to retire after your first week in package!!

This job is about as good as I could do so it's been good. I'm ready now though.

 

[Orion inc.]

At our most recent union meeting we discussed the pension at length. Our BA told us that it we had taken these measures back in 1997 our pension would be in much better shape today.

The sad reality is that pensions won't last anymore. I always had the mindset to plan retirement without it.

I'm curious if the new ups pension fund(ours is funded at around 94%) will even be there when I retire.

Maybe push back your retirement a year and max all your savings? We had a feeder driver do that for 2 years. His house was paid off and he reduced his living expenses to $600/month and 50/week for food. He banked everything else and worked close to 60 hours a week while cashing out half his vacation.

He was sitting on a nice pile in the bank after that.

 

[twoweeled]

The sad reality is that pensions won't last anymore. I always had the mindset to plan retirement without it.

I'm curious if the new ups pension fund(ours is funded at around 94%) will even be there when I retire.

Maybe push back your retirement a year and max all your savings? We had a feeder driver do that for 2 years. His house was paid off and he reduced his living expenses to $600/month and 50/week for food. He banked everything else and worked close to 60 hours a week while cashing out half his vacation.

He was sitting on a nice pile in the bank after that.

I'm sure he's sitting on a nice chunk of change, but it sounds like he traded his better years in for his worse years. What sorta life is that? Maybe get a second job on the weekends in addition to the 62 work week, and live in a tent? I'm sure he could save even more!! Work until he's 72 and collect maximum social security. Live like a fat cat when your 72, until you die at 75!! That doesn't sound to great to me.
I'm thinking there's a better plan out there.

 

[twoweeled]

Got my letter yesterday. Ours is funded at 71.7%. Guess I should feel lucky. Justed talked to our local President.
He said there are no plans at all at the moment to reduce retiree benefits. Current benefits however are quite possible.
But they're already receiving more than I did.

Not sure what you mean. No plan to reduce retiree benefits? Current benefits are possible? What does that mean?
They are already recieving more than I did? How much did you receive and what are you comparing it too?

 

[twoweeled]

At our most recent union meeting we discussed the pension at length. Our BA told us that it we had taken these measures back in 1997 our pension would be in much better shape today.

I'm glad your BA said that. Wasn't it the responsibility of the union to do this math? Isn't that part of why they collect millions from us? I wonder how secure the Union officer's pension is? It's a no brainer, the security of their (Union Officials) pensions, should match the security of any/every member. Any member's pension goes south, so does the pension of every Union Official. Just so there's an incentive to secure everyone's pension.
Gee, I wonder if we can get that passed?