Reply to thread

Message

<blockquote data-quote="bigd" data-source="post: 1136884" data-attributes="member: 42563">Our concerns are only toward this supplement! We all should have concerns about the pension increase and give and take as per Tim S stated on the website. It&#039;s great if he negotiated an extra $150 million dollars or more to get the pension fund to 80% and 804 members a raise! If he did that the man should put his hat in the ring for washington! To make ups get off the type of money needed to give a raise should be praised, unless! He is gambling with our money! It&#039;s called speculating! It&#039;s risky and can pay off if market stays strong. The market has been strong since Tim S has been in office. Our investment haven&#039;t given us a great return over the past couple of years! Think we had 7% last year! I believe Tim S and the local would need about double that to get raise by Jan 2014. If we don&#039;t I guess company will be more than happy to do what the previous administration was claimed of doing!! Having our benefits reduced again! So far we have lost!50k lump sum, I would imagine next thing company will cut with no problem will be and continue to give pension increase while paying the difference if we don&#039;t make our 80% or more!CUT THE 25 &amp;OUTBut we would have got our increase that Tim S promised! Now! Just think what that accrual rate will be if you can&#039;t work here for 30 years! Remember this is what ups is been trying to do for years but they know that local 804 will never vote to ratified a contract that includes the elimination of 25 and out! So the ups agree to a pension increase knowing that our pension will still be in critical status at which point 5 trustees will have to vote to reduce benefits!Trustees:2 from ups2 from local 8041 from mechanic union We all know the the mechanic union trustee always sides with the company!!&quot;This will be a backdoor 25 and out elimination&quot;</blockquote>

[QUOTE="bigd, post: 1136884, member: 42563"] Our concerns are only toward this supplement! We all should have concerns about the pension increase and give and take as per Tim S stated on the website. It's great if he negotiated an extra $150 million dollars or more to get the pension fund to 80% and 804 members a raise! If he did that the man should put his hat in the ring for washington! To make ups get off the type of money needed to give a raise should be praised, unless! He is gambling with our money! It's called speculating! It's risky and can pay off if market stays strong. The market has been strong since Tim S has been in office. Our investment haven't given us a great return over the past couple of years! Think we had 7% last year! I believe Tim S and the local would need about double that to get raise by Jan 2014. If we don't I guess company will be more than happy to do what the previous administration was claimed of doing!! Having our benefits reduced again! So far we have lost! 50k lump sum, I would imagine next thing company will cut with no problem will be and continue to give pension increase while paying the difference if we don't make our 80% or more! CUT THE 25 &OUT But we would have got our increase that Tim S promised! Now! Just think what that accrual rate will be if you can't work here for 30 years! Remember this is what ups is been trying to do for years but they know that local 804 will never vote to ratified a contract that includes the elimination of 25 and out! So the ups agree to a pension increase knowing that our pension will still be in critical status at which point 5 trustees will have to vote to reduce benefits! Trustees: 2 from ups 2 from local 804 1 from mechanic union We all know the the mechanic union trustee always sides with the company!! "This will be a backdoor 25 and out elimination" [/QUOTE]

Verification