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TForce | so you want to give up $83,000

unbelievable

I worked for a non-union company for 8 yrs before becoming a Teamster and it is the best move I ever made. Do you really think there is any non- union company in the world that will match these benifits the brothers in Indy have won. If you do you must be a crack head. GO TEAMSTERS!!


UPS Freight employees now receive an improved health care plan with lower costs. Additionally they get a guarantee that there will be no increases in what they pay toward their plan during the term of the contract.

The agreement reduces the cost of retiree health insurance for most retirees and freezes the rates for the term of the contract (5 years, 10 months).

Employees won overtime after working 8 hours a day or 40 hours a week. Previously in Indianapolis, UPS Freight employees had to work 43 hours a week to get overtime pay.

Employees will be paid for all time spent in the service of their employer. They won paid Delay Time, where previously they received none.

UPS Freight employees will lock in their current pension benefits.

Employees won wage increases of $4.65 per hour over the term of the contract.

In addition, Indianapolis UPS Freight employees won a lump sum payment of 50 cents per hour and 1.25 cents per mile, for every hour and every mile worked or driven from January 2007 to the date of contract ratification.

Ninety percent of full-time UPS Freight employees holding bid jobs won minimum daily and 40-hour weekly guarantees.

Casual employees won four-hour guarantees.

Casual employees won health insurance and pension benefits.

The company will pay for medical exams required by the government or the company.

The agreement contains “Maintenance of Standards” language to protect existing practices.

The company will provide equipment and assistance to employees to obtain a CDL.

Casual employees, as well as full-time employees, are now covered under the FMLA (Family and Medical Leave Act).

Employees are eligible to participate in the Teamsters National 401(k) plan

This is a reprint from the Teamsters web site as of today. Your really going to like the part when your terminal is really slow and they want to make you go home early but they can't because your a teamster and you are guaranteed your 40 hrs. Your gonna give them a big smile on that one.!!
 
stldude44 said:
Overnite,
Seriously, why do you think that UPSF is going to continue matching anyone's 401K? It's fairly obvious that the match is going to be gone soon. If you're figures were projecting future matching by the Company you haven't lost anything. You can't really lose what you don't yet have.
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If you go with the Teamsters you Will lose it.....:chairshot:
 
Teambro said:
I worked for a non-union company for 8 yrs before becoming a Teamster and it is the best move I ever made. Do you really think there is any non- union company in the world that will match these benifits the brothers in Indy have won. If you do you must be a crack head. GO TEAMSTERS!!


UPS Freight employees now receive an improved health care plan with lower costs. Additionally they get a guarantee that there will be no increases in what they pay toward their plan during the term of the contract.

The agreement reduces the cost of retiree health insurance for most retirees and freezes the rates for the term of the contract (5 years, 10 months).

Employees won overtime after working 8 hours a day or 40 hours a week. Previously in Indianapolis, UPS Freight employees had to work 43 hours a week to get overtime pay.

Employees will be paid for all time spent in the service of their employer. They won paid Delay Time, where previously they received none.

UPS Freight employees will lock in their current pension benefits.

Employees won wage increases of $4.65 per hour over the term of the contract.

In addition, Indianapolis UPS Freight employees won a lump sum payment of 50 cents per hour and 1.25 cents per mile, for every hour and every mile worked or driven from January 2007 to the date of contract ratification.

Ninety percent of full-time UPS Freight employees holding bid jobs won minimum daily and 40-hour weekly guarantees.

Casual employees won four-hour guarantees.

Casual employees won health insurance and pension benefits.

The company will pay for medical exams required by the government or the company.

The agreement contains “Maintenance of Standards” language to protect existing practices.

The company will provide equipment and assistance to employees to obtain a CDL.

Casual employees, as well as full-time employees, are now covered under the FMLA (Family and Medical Leave Act).

Employees are eligible to participate in the Teamsters National 401(k) plan

This is a reprint from the Teamsters web site as of today. Your really going to like the part when your terminal is really slow and they want to make you go home early but they can't because your a teamster and you are guaranteed your 40 hrs. Your gonna give them a big smile on that one.!!
Click to expand...
Only in Indy........:1036316054:
 
Overnite said:
if you make $80,000 and are putting away 7% in a 401k that is $5600 a year the company will match that with $2800 if that money gows at 4% which is a very low estimate over 20 years you have given up $83,379

my 401k earned 20% last year

if it earns 8% a year for 20 years that comes to a grand total of $128,134 that we give up

that also assumes $80k for the rest of your life no raises.

The 401k should be the biggest single reason in this or any labor contract a pension is shaky and not guaranteed a 401k is your money and can't be touched by anyone.

How can the teamsters let such a huge chunk of money be taken from us?

This contract is very shortsighted.

we should not have to be told we are getting a better deal we should be able to see it for ourselves.
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First off, you can roll that UPS stock anytime you want.

Secondly, doing some simple math, assuming that a driver gets screwed on two hours of pay each day, which happens to more people than you think, probably more than who actually contribute to their 401k, we're talking about 10 hours per week, or $215. Multiply that by 52 weeks and we're talking about $11,180 per year. And if it's just a half hour per day, that amounts to $2795 per year. Also more than the 401k match. So extrapolate that out to a 20 year career and by investing that 11,180 into your own fund, without a company match, and you'll have over $400,000 at retirement, assuming just 4% growth. At 8%, that number climbs to to well over $600,000. And this from just investing the delay pay that you have been getting screwed out of for years.

And obviously, you can throw that extra half hour pay into your account as well and come out as well as you would if you were getting the company match.

Don't be so short sighted by discounting the improvements compared to the one thing you're losing.
 
scooternut said:
What Retirement Are You Refering To The Contract Says Same Retirement We Had With Ups Freight
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This is only in the Central States pention fund, it is going bankrupt, this is the reason why INDY is not in the retirement for the Teamsters, UPS is buying it out and creating thier own retirement, at which time INDY could be a part of.

This is why INDY wanted no part of the fund, they did not want to loose thiers. And furthermore, why would UPS put INDY in a contract they were going to buy out anyway?
 
Overnite said:
if you make $80,000 and are putting away 7% in a 401k that is $5600 a year the company will match that with $2800 if that money gows at 4% which is a very low estimate over 20 years you have given up $83,379

my 401k earned 20% last year

if it earns 8% a year for 20 years that comes to a grand total of $128,134 that we give up

that also assumes $80k for the rest of your life no raises.

The 401k should be the biggest single reason in this or any labor contract a pension is shaky and not guaranteed a 401k is your money and can't be touched by anyone.

How can the teamsters let such a huge chunk of money be taken from us?

This contract is very shortsighted.

we should not have to be told we are getting a better deal we should be able to see it for ourselves.
Click to expand...

Over 20 years, delay pay gained will be double that. $8000 a year for twenty years Around $160K. 20 years is a long time, how do you know they won't take the match away between now and then.
 
Teambro said:
I worked for a non-union company for 8 yrs before becoming a Teamster and it is the best move I ever made. Do you really think there is any non- union company in the world that will match these benifits the brothers in Indy have won. If you do you must be a crack head. GO TEAMSTERS!!


UPS Freight employees now receive an improved health care plan with lower costs. Additionally they get a guarantee that there will be no increases in what they pay toward their plan during the term of the contract. Healthcare would actually cost me more per month by $10 (Includes cost of union dues)

The agreement reduces the cost of retiree health insurance for most retirees and freezes the rates for the term of the contract (5 years, 10 months). Not true, Cost remains the same
Employees won overtime after working 8 hours a day or 40 hours a week. Previously in Indianapolis, UPS Freight employees had to work 43 hours a week to get overtime pay. False, Employees had to work 42 with 41 hours this january and 40 in 2009.

Employees will be paid for all time spent in the service of their employer. They won paid Delay Time, where previously they received none. Always Paid for drop and hook, with new contract if I arrive prior to my scheduled time, I will not get paid delay time. I want to keep moving, I dont want to sit and wait for the clock!
UPS Freight employees will lock in their current pension benefits. Yes but the formula remains the same with no change

Employees won wage increases of $4.65 per hour over the term of the contract. True and false. For the 1st 3 years the raise averages approx .50 due to the 6 month split pay. By 2013 barring any extraordinary events, our pay would be $24.50 per hour which is exactly $1.65 below what the contract would be.
In addition, Indianapolis UPS Freight employees won a lump sum payment of 50 cents per hour and 1.25 cents per mile, for every hour and every mile worked or driven from January 2007 to the date of contract ratification. INDY ONLY

Ninety percent of full-time UPS Freight employees holding bid jobs won minimum daily and 40-hour weekly guarantees. Already getting 55-60 hours + per week and it is not letting up.
Casual employees won four-hour guarantees. All part timers are currently working full time hours at our barn

Casual employees won health insurance and pension benefits. They already have health insurance, and benefits. Pus tuition assistance and a bonus plan to obtain their cdl's
The company will pay for medical exams required by the government or the company.
My medical covers them.

The agreement contains “Maintenance of Standards” language to protect existing practices. Thats why we have a peer review board consisting of 3 hourly and 3 management employees
The company will provide equipment and assistance to employees to obtain a CDL. They already do provide the equipment and training. I have assisted several dock workers recieve their cdl
Casual employees, as well as full-time employees, are now covered under the FMLA (Family and Medical Leave Act). Already does

Employees are eligible to participate in the Teamsters National 401(k) plan DOES NOT HAVE A 7% match!

This is a reprint from the Teamsters web site as of today. Your really going to like the part when your terminal is really slow and they want to make you go home early but they can't because your a teamster and you are guaranteed your 40 hrs. Your gonna give them a big smile on that one.!!
Click to expand...

Your obviously not a UPS Freight employee. Learn the facts before making these statements.
 
UPSFreightMan said:
Your obviously not a UPS Freight employee. Learn the facts before making these statements.
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First of all we never had a 7% match in the 401, it always equalled to 3-4%. It is still free money, but not enough to excite me, particularley when we are getting a pention. The healthcare also will not cost you more, it will cost less because you are locked in by a contract, therefore you are not paying the 7-8% increases that UPS may pass along. Also part timers do get a bennie package and it suck's, one would certainly not pay for that bennie package with part time wages, particularly in this neck of the woods where lately the fulltimer's have a hard time getting 40 HRS per week.
 
Overnite said:
if you make $80,000 and are putting away 7% in a 401k that is $5600 a year the company will match that with $2800 if that money gows at 4% which is a very low estimate over 20 years you have given up $83,379

my 401k earned 20% last year

if it earns 8% a year for 20 years that comes to a grand total of $128,134 that we give up

that also assumes $80k for the rest of your life no raises.

The 401k should be the biggest single reason in this or any labor contract a pension is shaky and not guaranteed a 401k is your money and can't be touched by anyone.

How can the teamsters let such a huge chunk of money be taken from us?

This contract is very shortsighted.

we should not have to be told we are getting a better deal we should be able to see it for ourselves.
Click to expand...

That all sounds great but when the market corrects itself and it will just like in the 90's and you loose $80k you tend not trust 401k's.
 
I don't think that your particular situation and analogy goes with the majority of us. The union has good and bad things but I think it has more good than bad. We need stability, respect and first and foremost: SECURITY. For us all to receive these things, some of us must give up certain things but rest assured that in the long run you will make them up.
 
UPSFreightMan said:
Your obviously not a UPS Freight employee. Learn the facts before making these statements.
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You must be at one of the few who hasn't had its hours cut. We have full timers sitting at least one day every week. Due to over staffing to cut OT. If it is happening here it will reach you soon. The management are being forced to cut OT.
 
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