accelerator
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They should!!!!
TForce | Pension
- Thread starter Skeeter
- Start date
They should!!!!
every time i get in a rush i screw up
I had to get a stent put in my main heart artery last October.
My heart doctor told me to think about retirement.
I checked with the Teamsters for the 20.2 years credit I have with them.
Then I checked out social security.
Last but not least Overnite.
The Teamsters will give me a fixed amount that will never change.
Social security will give me the least amount because I'm just 62,I'll get the max if I work till 66.
Now I have 20.5 and counting with Overnite.
But at age 62 I'll get just over $1200.00 per month.
If I wait till I'm 65,just two more years,at their current non-union pension,I'll recieve just over $2900.00.
So working 2 more years I'll get better than double.
Maybe they think I'll be going to that final great truck stop in the sky,and they will only have to give my wife a few bucks,for survivor benefits?
Well God is still blessing me with very good health,and I can still do the required work,so I'm hanging in there as long as possible.
My heart doctor told me to think about retirement.
I checked with the Teamsters for the 20.2 years credit I have with them.
Then I checked out social security.
Last but not least Overnite.
The Teamsters will give me a fixed amount that will never change.
Social security will give me the least amount because I'm just 62,I'll get the max if I work till 66.
Now I have 20.5 and counting with Overnite.
But at age 62 I'll get just over $1200.00 per month.
If I wait till I'm 65,just two more years,at their current non-union pension,I'll recieve just over $2900.00.
So working 2 more years I'll get better than double.
Maybe they think I'll be going to that final great truck stop in the sky,and they will only have to give my wife a few bucks,for survivor benefits?
Well God is still blessing me with very good health,and I can still do the required work,so I'm hanging in there as long as possible.
wazalumper2
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Well, From what I've been hearing is the pension is the main hold out on the contract.
UPS wants to control it and the teamsters want control of it in their funds.
If that is true then they won't get my vote I want my almost 25 years either paid to me or frozen. I'll start from scratch with the union.
What do some of you ex-overniters and MC with a lot of years feel about the teamsters getting control of our pension. I don't like it.
I say we start from scratch with the union. Leave our pension we earned alone.
Isn't Multiemployer Pension Funds controlled by a Board of Trustees comprised of union and the participating employers, and under supervision of the government ?
Neither one would be in total control unless it's a single employer pension fund.
There are so many rules and regulations concerning pensions I don't claim to know anything. However, I know enough to want to see something in writing before I believe it.
Just think if they would of stopped double breasting before it got started it would be a totally different picture today.
nospinzone, I can agree with you on this one. It does under-mind the security of UPS union workers.
wazalumper2
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I can agree with you on that, I'm tired of hearing all the rumors and need to see it in writing.
Skeeter knows that equation bad habit.
He helped me with it before Christmas when I asked for retirement help.
The only thing is though when you figure out what you'll get.
You've also got to have the age,or you'll get less.
I believe they deduct 3% for every year you haven't made it to 65.
I put in for a quote for my present age of 62.
So being 3 years away I'd have 9% deducted.
I'll be 63 in a few days,so I figure as long as God keeps blessing me with the good health I'm enjoying.
And I can still do the work,I'll stick it out to my 65th birthday.
But now that we are going to be Teamsters soon I'm sure this will all change,and I'll have to check everything out later.
He helped me with it before Christmas when I asked for retirement help.
The only thing is though when you figure out what you'll get.
You've also got to have the age,or you'll get less.
I believe they deduct 3% for every year you haven't made it to 65.
I put in for a quote for my present age of 62.
So being 3 years away I'd have 9% deducted.
I'll be 63 in a few days,so I figure as long as God keeps blessing me with the good health I'm enjoying.
And I can still do the work,I'll stick it out to my 65th birthday.
But now that we are going to be Teamsters soon I'm sure this will all change,and I'll have to check everything out later.
UPS freight workers better hope and pray they stay out of the Central States Pension Plan. What a total joke. They better keep their 401K plan. In 1980 there were 900 Teamster union companies. There are 15 left. In 25 years time the Teamsters have lost 885 union companies! The Teamsters have fewer active employees generating contributions into the pension plan. The number of retirees drawing benefits now exceeds active workers by more than 25%.
Now top Teamster officials are openly saying that UPS Freight Teamsters may be kept out of our union pension plans. Brad S******, General Secretary-Treasurer Tom K*****’s right-hand man and an International rep in the Freight Division, announced at a union meeting that any contract with UPS Freight will probably not include the a Teamsters Pension Plan.
Now top Teamster officials are openly saying that UPS Freight Teamsters may be kept out of our union pension plans. Brad S******, General Secretary-Treasurer Tom K*****’s right-hand man and an International rep in the Freight Division, announced at a union meeting that any contract with UPS Freight will probably not include the a Teamsters Pension Plan.
BusterNite
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Thats Interesting, I don't know what will happen. But I have said from the begining that I don't believe UPS will negotiate UPSF pension plan as UPS has been trying to pull out of there own teamster pension plan for years.
Teamster pension
UPS is supposed to foot the pension bill for the tens of thousands of employees from 885 no-longer-union companies? For tens of thousands of people who never worked at UPS? It's an absurd expectation. Of course UPS is looking for a way out, and well they should.
The Teamster pension mess is hardly the fault of UPS. Why should they be left holding the bag? They're in business to make money not lose it. Maybe that's why UPS is still in business and the Teamsters are nearly defunct.
U.P.S. is the largest company in the pension plans of the International Brotherhood of Teamsters, with potential responsibility for billions of dollars of obligations to its retirees. Last year U.P.S. contributed a little more than $1 billion to 32 regional Teamster plans, more than $8,000 for every covered U.P.S. employee. UPS wants out of its responsibility to multi-employer pensions, If and when UPS is able to opt out of the multi-employer union pension system, it would be the final blow to the hopes and dreams of all the union members pensions. Hopes and dreams for nothing but and IOU.
UPS is supposed to foot the pension bill for the tens of thousands of employees from 885 no-longer-union companies? For tens of thousands of people who never worked at UPS? It's an absurd expectation. Of course UPS is looking for a way out, and well they should.
The Teamster pension mess is hardly the fault of UPS. Why should they be left holding the bag? They're in business to make money not lose it. Maybe that's why UPS is still in business and the Teamsters are nearly defunct.
U.P.S. is the largest company in the pension plans of the International Brotherhood of Teamsters, with potential responsibility for billions of dollars of obligations to its retirees. Last year U.P.S. contributed a little more than $1 billion to 32 regional Teamster plans, more than $8,000 for every covered U.P.S. employee. UPS wants out of its responsibility to multi-employer pensions, If and when UPS is able to opt out of the multi-employer union pension system, it would be the final blow to the hopes and dreams of all the union members pensions. Hopes and dreams for nothing but and IOU.
Teamster pensions is related to Social Security, the people working pay for the people who are retired. The main ingredient is to have more people working than retired. With the Teamster membership declining for the last twenty-two years and the “baby boomers” retiring soon; How long can this type of pension continue to pay benefits before there is no money left? How can any underfunding be made up without more employer contributions?
U.S. labor unions lost 326,000 members in 2006, the most in three years, leaving only 12 percent of employed workers as union members. The biggest drop in the percentage of union workers since 1995.
40,000 Contributors In UPS Centrel States Fund At @ $238( 2007 Rate). 40,000 x $238 Thats 9,520,000.00 A WEEK. Thats Just Central states Teamsters, not the rest of the country! Yellow has 8,625 retirees collecting and 6,546 contibuting. Consoladated has 7,792 retirees collecting 0 contributing. Roadway has 7,520 retirees collecting 6,385 contributing . UPS has 6,865 retirees collecting and 40,0000 contributing. ABF has 4,666 retirees collecting and 2,655 contributing. .
U.S. labor unions lost 326,000 members in 2006, the most in three years, leaving only 12 percent of employed workers as union members. The biggest drop in the percentage of union workers since 1995.
40,000 Contributors In UPS Centrel States Fund At @ $238( 2007 Rate). 40,000 x $238 Thats 9,520,000.00 A WEEK. Thats Just Central states Teamsters, not the rest of the country! Yellow has 8,625 retirees collecting and 6,546 contibuting. Consoladated has 7,792 retirees collecting 0 contributing. Roadway has 7,520 retirees collecting 6,385 contributing . UPS has 6,865 retirees collecting and 40,0000 contributing. ABF has 4,666 retirees collecting and 2,655 contributing. .
Well now its clear to why the Teamsters didn't want us UPS Freight workers just signing on with their current National Master freight Agreement.
They didn't want a lot of us older workers working till we got vested,and than start bleeding their pension even more then it is at this present time.
I had been woundering why if we are freight,why we couldn't just become a part of the NMFA?
Now I know why the Teamsters have had to craft this custom made UPS Freight contract.
They didn't want a lot of us older workers working till we got vested,and than start bleeding their pension even more then it is at this present time.
I had been woundering why if we are freight,why we couldn't just become a part of the NMFA?
Now I know why the Teamsters have had to craft this custom made UPS Freight contract.
Well u r close on the funds I was at the hall late one night doing some figures on how much the company would pay in onch we r all in the plan..3.000.000 a yr is what we came up with if we did it corectly. 5.00 a hour for every hour u work paid into ur pension
Okay listen we are not gonna vote on the contract here in Indy,, Unless it's gonna help everybody in the company we have made that clear rite from the start..
I think u r getting ahead of ur thinking. Just wait and see what comes out of the talks ..We may not have to wait.
I only have two things to say on this pension issue.
I sure do want to see everthing in writting.
hugnlug that million dollor question of yours is a mystery coming from all of the Teamsters recruters at our local meetings.(2 years for 1 year) were they planning on the taking over the Overnite pension funds to make such a good offer?
The other thing is whats going on with our old Overnite pension?
Is it like a basket ball being bounced around in the minds of UPS,and other interested parties outside of us workers that have earned it?
Well as my brother in the Lord always says.
(TIME WILL TELL)
I sure do want to see everthing in writting.
hugnlug that million dollor question of yours is a mystery coming from all of the Teamsters recruters at our local meetings.(2 years for 1 year) were they planning on the taking over the Overnite pension funds to make such a good offer?
The other thing is whats going on with our old Overnite pension?
Is it like a basket ball being bounced around in the minds of UPS,and other interested parties outside of us workers that have earned it?
Well as my brother in the Lord always says.
(TIME WILL TELL)
BusterNite
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I would love to see this. Its been thrown around for a while now. But I really don't see this happening. As for the IBT offering us 2 for 1 after 5 years. We really don't have a clue what they are offering. Has someone told you this is the offering in the contract or is it just hear say because it has been done in the past with other mergers. Im sure UPS is not in love with this offering either. I would be very surprised if UPS negotiates the pension with the teamsters. I would not be surprised to see our pension stay right where it is. I just want to see some kind of enhancement to our pension so I can get out as early as possable.