Catatonic
Nine Lives
I feel like we are kindred spirits.
UPS Management Retirement Pay out next year?
- Thread starter Old Man Jingles
- Start date
I feel like we are kindred spirits.
He believes, is not good enough. Make a call to someone in the corporate hr group and ask how is this calculated and what it means. The pension SPD has all the calculations printed that determine your monthly pension. The “Total Rewards Statement” calculation needs the same type of explanation in writing.
oldupsman
Well-Known Member
Congratulations Kindred. Always glad to see someone get out in one piece, management or union. That seems to be the biggest difference today. I spent my entire career as a driver. Did my center manager and I agree on everything? Of course not. Did we butt heads once in awhile? Sure. But when the bell rang in the morning it was time to go to work. We got a business to run. There was still a mutual respect. Old Guard indeed.
Catatonic
Nine Lives
Good luck on that. They just know what is in the pop-up box activated by the "Blue ?".
See below in italics for the explanation for the calculation of the value of one's retirement plan:
UPS Retirement Plan Present Value
The present value shown is the estimated amount UPS needs to set aside today to pay your accrued benefit at your Normal Retirement Date (generally age 65). Your accrued benefit is based on your earnings and service through the date shown. The present value is based on the following assumptions:
- The benefit valued is your accrued benefit, with monthly payments starting at your Normal Retirement Date for your lifetime.
- Interest of 6% per year is earned from now until your benefit has been paid.
- A group annuity mortality assumption is included to determine the length of your retirement.
A few notes from me:
If you have 35 years or more, the Normal Retirement Date is your 60th birthday.
If you have less than 35 years, the Normal Retirement Date is your 65th birthday.
Your monthly benefit will be reduced by 3% for each year you retire before your Normal Retirement Date.
Purchasing a life based annuity with the amount will replace about 40% of your monthly pension payment as of June 2012 with rates at 1 - 1.75%.
In 2007, you could purchase about 100% replacement when the rates were 6 - 6.25%
PackageManager
Active Member
It is not the place Jim Casey left us. Its time to have the firm run by UPSers who have worked their way up -- not folks from other boards or folks brought in through acquisitions.
curiousbrain
Well-Known Member
That assumes anyone can survive the journey that is working their way up to the top, to run the firm; I want to meet that person.
SignificantOwner
A Package Center Manager
The old culture is gone and not coming back. Wall St. now owns UPS and they don't care what happens to UPS or UPS employees as long as they make money. They're trying to figure out how they can take as much money out of UPS for themselves as they can - legally. Forget the employee ownership stuff, adapt, and take on the same mindset. It is what it is.
Catatonic
Nine Lives
Yuuuup ... and the Board has the fiduciary responsibility to the shareowners to make that happen.
The 10-1 voting advantage of "A" shares only goes so far.
hangin455
Well-Known Member
I think the point you're missing is that many here joined management when we were "partners". That meant sharing the risk in the bad times and reaping the rewards in the good. Now we're penalized in good times or bad. The money is being made and no longer being shared.
For the record I always this forum should have been called "UPS Management" as the "partnership" dies a little more each day.....
moreluck
golden ticket member
Hubby retired as div. mgr. and was able to do so because of the old school. So, I didn't miss your point.
It's still a company with a bottom line and if they can do Kumbaya a few times, then they do, if not, then they don't.
PackageManager
Active Member
Unfortunately this was the desired outcome once we went public. If you were around during center reassessment -- top brass and Atlanta Consulting Group was already comparing our Management Ratios v. RPS -- when RPS were all independent contractors --
Catatonic
Nine Lives
That was the initial thought but the person that came up with UPS Partners understood the irony and sarcasm inherent in the name - UPS Partners.
That person also anticipated the nature of the posts that dominate this forum.
curiousbrain
Well-Known Member
Somehow, I imagine you would be less flippant about it if "hubby" got shafted the way most management does today; or, maybe you wouldn't - oh well, who cares anyway.
moreluck
golden ticket member
He got beat up a lot by a district manager that I hated with a passion. I knew he was working really hard and giving it his all and the district mgr. was still an
. I have my ways of getting my message across. We had a wedding anniversary and the jerk boss sends a huge arrangement of roses to me wishing us a happy anniversary. I told the delivery man to tell the sender to stick them up his *^$ !! I refused the flowers. You don't 'beat' my hubby daily and then act like all's great. I hate phony people. The look on that delivery guy's face was priceless....best part of his day!
By the next day, I imagine a few states had heard of this incident.
soberups
Pees in the brown Koolaid
I am glad that Brown Cafe has such a forum.
Whenever an hourly questions the need for a union, the easiest way to respond is to point out how UPS treats its "partners" and then ask them if they think they would have it any better if they did not have a collective bargaining agreement.
curiousbrain
Well-Known Member
While not an incredible fan of the ganja, Cheech and Chong had a point when they said: Things are tough all over. Union, Partner, ... it is what it is.
SignificantOwner
A Package Center Manager
He got beat up a lot by a district manager that I hated with a passion. I knew he was working really hard and giving it his all and the district mgr. was still an
We had a wedding anniversary and the jerk boss sends a huge arrangement of roses to me wishing us a happy anniversary. I told the delivery man to tell the sender to stick them up his *^$ !! I refused the flowers. You don't 'beat' my hubby daily and then act like all's great. I hate phony people. The look on that delivery guy's face was priceless....best part of his day!
By the next day, I imagine a few states had heard of this incident.
Why didn't he quit? Answer - because he was accumulating significant wealth. I agree with a previous post that you missed the point.
moreluck
golden ticket member
The district mgrs. come and go quickly and he's not a quitter and he refused to fudge numbers in order to look good to the boss. He played the game by the rules, while others took short cuts. He was close to leaving anyway, but they wanted to send him to a year's assignment.....it was a "put out to pasture" situation and not making good use of your resources.
Things were 'rocky' then!!!
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