joefirm said:
Im told by our parcel brothers that UPS pays the union $189 per week towards his pension. Out of that amount, his own pension fund gets credited $49 and the rest goes elsewhere.
Lets keep our pension with UPS. If the union really wants us then this wont be a hangup.
Otherwise, lets stay non union.
Also, it would be nice to get OT after 8 instead of 43.
Article 69 Section 1 PENSION FUND
Commencting with the first day of August , 2006, the said hourly contribution rate shall be $5.06 but not more than $202.40 per week for any one employee.
That money ( in my case) goes to the New England Teamster and Trucking Industry Pension Fund (NETTIPF)
Each month UPS reports to the Teamster locals the amounts contributed to, in behalf of an employee, on a computer readout.
No where on that computer readout does it breakdown that a certain amount goes into a certain persons "own pensionfund" and the other amount goes "elsewhere".
You recieve credit hours, for monies received, that calculate to a monthly and year credit on which your pension payment is based and the age at which are to recieve your pension with or without full credit.
That "so called division of payment" is UPS Management Proporganda that is put out each quarter to employees to brainwash them into thinking they should vote for UPS management to take over the Teamster Pension Fund.
Now I ask you who wants control of what?
It's all about how has the money?
What you have heard from this package driver is his interuptation of UPS's brainwashing. He thinks that he is only getting $49 a week credit. ( I'd like to see him prove his statements on paper). Okay, explain this if he is only getting $49 a week credit how is his pension going to be over $3000 per month in thirty years. Do the math.
49 x 52 = 2548 per year credit (assumed credit)
2548 x 30 = 76440 (assumed credit)
Retirement due $3000 per month (Projected payment)
3000 x 12 = 36000 per year
36000 x 2.5 years = 90000
Looks like by his formula he rans out of money sometime after 25 months.
The moneis that are contributed on the behalf of the employee go to the fund.
It is the funds responsiblity to administer the fund along with Trustees from the Teamsters and Employers 50/50.
They administer the funds to pay those that are retired, the same will happen to you if you retire. Active members will pay for you and keep the funds healthy and growing.
In your view you belive that all certain monies that are contributed on your behalf, be in actuallity yours.
Question?
How much per week does Overnite UPSF contribute to your fund on your behalf?
How much per hour?
How much if you are on Workmans Comp?
How is the monies that Overnite/UPSF invested to keep your "own" pension solvent and healthy.
No one has been able to answer these quesations on this board and I quite honestly don't expect you to either, much less already know the info for yourself.
Again this is the propaganda machine seeping into your thinking. Only now you're getting in from both ends.