We need a different pension system. UPS paid 6 Billion to get out of that fund and are on the hook for some additional money.
Our leadership in 97 pulled the wool over our eyes because they didn't want to lose control of the pension money.
So it begins
- Thread starter Brownslave688
- Start date
Our leadership in 97 pulled the wool over our eyes because they didn't want to lose control of the pension money.
3 done 3 to go
In control of own destiny
Well @Gumby . looks like you and I will be here a while. I have ZERO faith in Hoffa. To fix anything with pensions. I'm hoping the insurance isn't lost this next contract.
Would love to know how much union members monies were given to the DNC over this contract. Which the DNC never backs us up. Omnibus bill and the current state of pensions. But they expected it with votes. Glad they lost. Cause we lost since Hoffa.
Im making alternative plans now
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They didn't want to lose control but if the 30 yr pay out would have stayed at $2000.00/mo the plan would've been in ALOT better shape than it is now.
Throwing 6 bill into a bottomless pit was like putting a band-aid on a cut jugular vein.
It was good for the company. That's it.
Almost that I know is that they are dropping over 26k a year into my pension and I'm basically getting nothing in return.
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On the hook for how long?
I got that. But like I said before, if the company couldn't have the pension money their offer of the extra $1000/month made the union ante up. Sad to say, I know lots of senior employees with me on the strike line would've crossed for an extra grand per month. Lots.
The funds had tons of cash in 97.
oldngray
nowhere special
And now its gone.
Hindsight we should have let UPS buy out the pensions then but we messed up. We trusted the union more than the company.
BigUnionGuy
Got the T-Shirt
Just because you don't know @Bubblehead, as you do your Local Agent....
Doesn't justify your un-warranted criticism, of his opinion.
He and I have never personally met.
But, he is a duly elected (and respected) Union Steward in his Local.
I could read that statement 1 of 2 ways.
Neither of which.... could benefit the members.
We'll see.
-Bug-
UpstateNYUPSer(Ret)
Well-Known Member
I am entitled to my opinion much like anyone else on this forum.
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Except when it violates the TOS.
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Central States Pension Fund showed a loss of 640 thousand in 97 prior to July 31st.
(At least that was what was reported during the strike.)
Because nobody else contributes to it. UPS shouldn't be on the hook for other Teamsters
oldngray
nowhere special
Teamsters let other trucking companies get away with not paying what they owed into the fund.
YRC....
Brownslave688
You want a toe? I can get you a toe.
That 6 billion should of went into a seperate fund to supplement upsers.
It should have but with all of the BS that UPS does, nobody can blame them for not trying to do the right thing here
Brownslave688
You want a toe? I can get you a toe.
There’s talk of capping 401(k) contributions at $2,400 per year
If this were to happen they will have essentially forced everyone to work their entire lives.
UpstateNYUPSer(Ret)
Well-Known Member
Clarification—-pretax contributions only.
Not capping. Just making the first $2400 tax deductible. Their is over 23 trillion on retirement funds.
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