The New Contract And Future Pension Contributions: Are We Ok. Or Are We Robbing Peter To Pay Paul?

[Just A UPS Guy]

No we don't lol!!!! OK it's obvious now you are making up.

Hey @Just A UPS Guy thisnguy thinks we make 8k a month lol

He swears we all make more in retirement than at our working salary.

 

[542thruNthru]

We didn’t get. We got it increased, but not near what the West is.

We only got it increased because it is funded at 102%

Extra money to pay out.

No wonder you're fighting this fight. Someone convinced you that we get 8k a month!

 

[542thruNthru]

He swears we all make more in retirement than at our working salary.

He's a ing fool! Lol

Not one person that I know of that has retired has even made 6k a month let alone 8k. I'd love to know who's giving him these numbers. I have a guy w with 36 years ft and he didn't even get to 6k a month.

 

[Trucker Clock]

That number would be bigger but there's age penalties on it that's what I'm trying to tell everyone

And the the newer employees will have all their money penalized


The pension reform act of 2008 and 2011 really screwed things up

I don’t have issues with age penalties. A retirement was supposed to be around 65. An early retirement was supposed to be around 62.

I know you said how many 60 year olds does UPS want, but to be able to retire at 55 with a huge pension is not what a pension is for.

I agree, the 55 and out pension in the Central is high for a 55 year old.

 

[Wally]

Wally... your pension is not supposed to be well funded and make you money. It's to help fund others that need that money. You're thinking 401k.... lol

My bad. Didn't realize it's charity. Maybe we should rename it The Teamsters Foundation? "Giving since 2023"...

 

[Johney]

5k would be acceptable

It won't work till I was age 65 I'll probably be somewhere around 6500
But that's with almost 45 years.

So what would you get right now? Had I stayed until this date I would’ve got $4300 that would’ve been 35 full time years

 

[Trucker Clock]

No wonder you're fighting this fight. Someone convinced you that we get 8k a month!

OK

What is your retirement, at age 62, with 35 years of service?

 

[Trucker Clock]

So what would you get right now? Had I stayed until this date I would’ve got $4300 that would’ve been 35 full time years

At what age?

 

[IVE GOTTA PACKAGE 4U]

So what would you get right now? Had I stayed until this date I would’ve got $4300 that would’ve been 35 full time years

I'm a different plan than yours.

I showed you my pension statement if I could get that money I would leave but there's penalties on it so it's not going to be enough
We still get credit for every year you work .
The problem there is age penalties on it.


At least I have a good part of my pension that is not penalized but I try to explain it to these young guys and they do not get it

 

[542thruNthru]

OK

What is your retirement, at age 62, with 35 years of service?

So now it's age 62? What happen to your age 55?

Keep moving the goal post but it still ain't going to reach 8k. Also what idiot stays till age 62 if he's eligible to retire at 55 and collect 401k?

 

[IVE GOTTA PACKAGE 4U]

I don’t have issues with age penalties. A retirement was supposed to be around 65. An early retirement was supposed to be around 62.

I know you said how many 60 year olds does UPS want, but to be able to retire at 55 with a huge pension is not what a pension is for.

I agree, the 55 and out pension in the Central is high for a 55 year old.

But honestly how many years can you do this job?
30 years is hard enough, 35 years you're in a much smaller group anything over 40 you are either crippled or crazy

 

[IVE GOTTA PACKAGE 4U]

So now it's age 62? What happen to your age 55?

Keep moving the goal post but it still ain't going to reach 8k. Also what idiot stays till age 62 if he's eligible to retire at 55 and collect 401k?

You can do this roll is 55 and collect money from your 401k if you're retired but also you pay state tax on it

 

[542thruNthru]

You can do this roll is 55 and collect money from your 401k if you're retired but also you pay state tax on it

True but then again you can do 59 and a half right... still not 62.

 

[IVE GOTTA PACKAGE 4U]

True but then again you can do 59 and a half right... still not 62.

59 and 1/2 is the magic age and age 62 is an minium age for social security.
I went online and got my social security estimate that overtime over the years paid off at least that way

 

[542thruNthru]

Moral of the story is..

Be happy with what you get, unless you're the central region. Because it's not fair.

 

[tourists24]

So what actual gains/losses are in our supplements out there? The Atlantic has a .50/year upgrade (same as old contract for full timers). Part timers are potentially a loss in money contributions. Old language was up to .70/year. Now says no more than .50

 

[Johney]

At what age?

Any. 55 years old gets you on Teamcare.

 

[Trucker Clock]

Moral of the story is..

Be happy with what you get, unless you're the central region. Because it's not fair.

Orrect. You should not be able to retire at 55 with that. That is the number it should be at age 62 with 35 years.

I’m not talking age. What is your projected pension with 35 plus years in after age 55?

 

[Johney]

But honestly how many years can you do this job?
30 years is hard enough, 35 years you're in a much smaller group anything over 40 you are either crippled or crazy

There isn’t a single RPCD in my building with 40 or more years. The few 40+ are in feeders. One is a 22.3. The highest senior RPCD driver in my old building is right at 35 full time years.

 

[Trucker Clock]

Any. 55 years old gets you on Teamcare.

I know the Central had 35 and out. I don’t think that’s where it should be.

Just because you do a hard job doesn’t mean you should be able to retire early.

With everyone living longer these days, retirement should be at least 62.

To be able to retire at 55, with $75K per year, for the next 30 years is ridiculous.

Yes, the Central with a number like that is ridiculous. It should be at least at age 62, not 55.