Coldworld
Well-Known Member
UPS is only a small slice of the pie in the western conference of teamsters pension plan....the plan is very diverse and is almost fully funded.... and to be fair your plan probably has thousands of less people in it than probably any of the teamsters plans....didn’t one of the mechanics unions vote to have their guys wrenching until after 60 years of age????Im told by IAM, we are 101% vested. We dont have all the dead weight pulling us down like Teamsters with all the retirees from closed businesses. A guy retired about 3 years ago with 30 years and "says" he is getting close to $6500. Another guy with 25 years, says he is getting just over $5200. I talked to a few guys who were IAM and worked for Penske and they're saying 3200-3600 a month. Plus I haven't read anything about IAM retirees taking cuts.
I guess the main difference is we have more companies contributing into our pension. UPS is the main contributor to the Teamster pension. UPS isnt the main contributor to the IAM pension.
But that can all change tomorrow. My plan is to retire at 25 years, assuming I dont bail before then. Im a job jumper.