Retirement...contract talks

[UpstateNYUPSer(Ret)]

And that is why your pension is broke. That's unrealistic to think that can be maintained

No kidding.

 

[By The Book]

Retirees who started working in the 70's are bringing home more than $7K/month while more recent retirees are closer to $6K/month.

When the cuts begin it would make sense to me that a person who is retired can't receive more than a current retiree when the fund is adjusted. Our plan is 91% funded with a 1.2 accrual rate, and the payout currently is about $5,000.00 a month for a 35 year member. That payout is a life only pension, which means a payout with a spousal reduction is about $4,000.00 for a 35 year member....retiring in 2021.

 

[twoweeled]

You had to know that 5K per month couldn't hold up.
Especially , when your raises were being were being diverted to support a sinking ship.

Sorry Dave, really.

I totally understand these guys not being aware of the accounting in our contractual agreements. I'm sure many drivers don't spend what little free time they have, trying to obtain "all" elements of the actual contract agreement regarding our pensions. It's probably the equivalent of a short book. I'm not talking about the summary we get, but All paperwork regarding pensions, both directly and indirectly. I suspect even if we could acquire all of the actual verbiage, many of us would have a problem putting it all into context and simple understanding. Right or wrong, I think the majority of us put our trust in our Union leaders to handle, what they are supposed to be handling. After all, that is their job. Of course we know better now. Or do we?

 

[Brownslave688]

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?

You're looking at it all wrong.


Use that raise to secure your own retirement. Hell I would rather all of that pension money go to my paycheck bug to each their own.

 

[beentheredonethat]

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?

I doubt the union would agree with this. But your best bet is to get the money that goes into the pension fund to go into your private 401K "type" fund that is 100% yours. You invest it and you take it with you when you leave and or retire. This would be voluntary to the employee. So you can take the money in a 401K type fund or you have the money go into the pension. Again, I doubt the union would want that since their ponzi scheme would breakdown faster. Plus they couldn't loot that money from you as easily as they do with the pension funds.

 

[govols019]

Plus they couldn't loot that money from you as easily as they do with the pension funds.

That's one hell of an accusation to throw out there....any proof of that?

 

[Mugarolla]

I doubt the union would agree with this. But your best bet is to get the money that goes into the pension fund to go into your private 401K "type" fund that is 100% yours. You invest it and you take it with you when you leave and or retire. This would be voluntary to the employee. So you can take the money in a 401K type fund or you have the money go into the pension. Again, I doubt the union would want that since their ponzi scheme would breakdown faster. Plus they couldn't loot that money from you as easily as they do with the pension funds.

Those in the UPS pension may just get that.

UPS wants to eliminate a defined pension for new employees and have their "pension" be a 401K. I am hearing of a 6% match.

We will see if this gets any traction in the upcoming contract negotiations.

 

[IVE GOTTA PACKAGE 4U]

Those in the UPS pension may just get that.

UPS wants to eliminate a defined pension for new employees and have their "pension" be a 401K. I am hearing of a 6% match.

We will see if this gets any traction in the upcoming contract negotiations.

That will kill a lot of pension plans. That will never fly.

 

[Brownslave688]

Those in the UPS pension may just get that.

UPS wants to eliminate a defined pension for new employees and have their "pension" be a 401K. I am hearing of a 6% match.

We will see if this gets any traction in the upcoming contract negotiations.

A 6% match would be terrible.


I'm all for 401k but it should be defined contribution.

 

[Brownslave688]

That will kill a lot of pension plans. That will never fly.

What's höffa care as long as they put a few million in his offshore accounts.

 

[IVE GOTTA PACKAGE 4U]

What's höffa care as long as they put a few million in his offshore accounts.

No fat paying trustee jobs for him to hand out.

 

[Mugarolla]

That will kill a lot of pension plans. That will never fly.

I was not referring to any Teamster plans at the moment. I was referring to anyone who would be entering the UPS pension plan, Central Region, post 2008, with the exception of Akron, I believe.

Will not affect the Teamsters, or any other pension plan. It would just divert any would be UPS pension participant into a matching 401K plan.

And yes, it would have to be negotiated and approved by the Teamsters, including any matching amount or defined contribution.

It is talk and speculation now, but it is what UPS wants. Eliminate the future defined pension liability.

Will it happen? Your guess is as good as mine. But a lot of the "me" generation may want it.

 

[UpstateNYUPSer(Ret)]

Millennials love the portability of a 401k.

 

[IVE GOTTA PACKAGE 4U]

I was not referring to any Teamster plans at the moment. I was referring to anyone who would be entering the UPS pension plan, Central Region, post 2008, with the exception of Akron, I believe.

Will not affect the Teamsters, or any other pension plan. It would just divert any would be UPS pension participant into a matching 401K plan.

And yes, it would have to be negotiated and approved by the Teamsters, including any matching amount or defined contribution.

It is talk and speculation now, but it is what UPS wants. Eliminate the future defined pension liability.

Will it happen? Your guess is as good as mine. But a lot of the "me" generation may want it.

And if no new contributions are paid in to our plans, they will surely fail..

 

[UpstateNYUPSer(Ret)]

And if no new contributions are paid in to our plans, they will surely fail..

This change would be for those in the company plan only.

 

[IVE GOTTA PACKAGE 4U]

This change would be for those in the company plan only.

I wonder what % is covered under the company plan?

 

[Mugarolla]

And if no new contributions are paid in to our plans, they will surely fail..

Read it again. I did not say that there will be no new contributions to any Teamster plan. I said that it would only affect those entering the UPS pension plan.

Contributions would continue to every other plan.

In fact, at the moment, UPS is not making any contributions to the UPS pension plan. It is over 100% funded. The other plans would continue as normal.

 

[IVE GOTTA PACKAGE 4U]

Read it again. I did not say that tnere will be no new contributions to any Teamster plan. I said that it would only affect those entering the UPS pension plan.

Contributions would continue to every other plan.

In fact, at the moment, UPS is not making any contributions to the UPS pension plan. It is over 100% funded. The other plans would continue as normal.

Got it.

 

[Mugarolla]

I wonder what % is covered under the company plan?

I believe that it is only the Central Region, at least for FTers. My guess is less than 25%

 

[IVE GOTTA PACKAGE 4U]

I believe that it is only the Central Region, at least for FTers. My guess is less than 25%

That would be a big hit for any new employees. 6% match versus over 20k a year into the pension plan.