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UPS Flunky

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Do we have knowledge of what the Teamesters will or would like to offer US on this matter. I know alot of employees that are on the down hill slide towards retirement. Last time around the talk was$3000 a month. Now I'm no Einstein but lets do the math.


Avgarge ------------------------------------------ $75000
Given multiplyer given by UPSF --------------------- x1.725
-------------------------------------------------- 129375
Years of service ------------------------------------- x34 @ age 55
------------------------------------------------ 4398750
Divided by ------------------------------------------- 12
per month -------------------------------------- 3665.62
offer last time --------------------------------- -3000.00
Difference --------------------------------------- 665.62
I know I'm the only here that can see it but, I'm not so sure that we don't need to really ask ourself is the going to be a good thing for us.
I know that UPSF has problems but really central states is losing money by haveing more retired employees than active. I know there are NO GAURENTEES that we will still have a UPSF pension down the road, but there are no GAURENTEES that the central states will be around either. Just like our social security theres NO GAURENTEES that we will get that from our goverment
 
bunypnutdad said:
Do we have knowledge of what the Teamesters will or would like to offer US on this matter. I know alot of employees that are on the down hill slide towards retirement. Last time around the talk was$3000 a month. Now I'm no Einstein but lets do the math.


Avgarge ------------------------------------------ $75000
Given multiplyer given by UPSF --------------------- x1.725
-------------------------------------------------- 129375
Years of service ------------------------------------- x34 @ age 55
------------------------------------------------ 4398750
Divided by ------------------------------------------- 12
per month -------------------------------------- 3665.62
offer last time --------------------------------- -3000.00
Difference --------------------------------------- 665.62
I know I'm the only here that can see it but, I'm not so sure that we don't need to really ask ourself is the going to be a good thing for us.
I know that UPSF has problems but really central states is losing money by haveing more retired employees than active. I know there are NO GAURENTEES that we will still have a UPSF pension down the road, but there are no GAURENTEES that the central states will be around either. Just like our social security theres NO GAURENTEES that we will get that from our goverment
Click to expand...

If you did 34 yrs in the local 707 pension plan and retired at the end of 1995, you would get $3910.00 per month regardless of age!!!

However, what would be extremely likely is that your current pension and any additional pension would get pro-rated. You would not lose any current pension benefits. You'd keep the pension benefits you've already earned and add any newly negotiated pension benefits to those you've already accrued. When you retire you'd get the pension you've already earned and the new pension that would be negotiated on a pro-rated basis. If you had more time in the old Overnite pension, then most of your pension will come from there. If you had most of your time when you retire in any newly negotiated pension plan, then most of your pension will come from there.
 
With the former Overnite pension its my..

understanding if you were under 65,and didn't have 30 years of service.
Overnite would deduct 3% for every year you weren't 65.
So as for me I'm 62 with 20 years of service.
If I was to trade in my steering wheel for a rocking chair at this present time I'd have 9% taken off.

I figured as long as God keeps blessing me with good health I'll keep working till I'm 65.

That was a plan up till now,but it seems we'er all in a state of limbo with the pending Teamster organizing movement.
So as always only time will tell.
 
wher can I find that in writing. Im not saying that your not telling the truth but would like to read it in some type of offical doc.
 
bunypnutdad said:
wher can I find that in writing. Im not saying that your not telling the truth but would like to read it in some type of offical doc.
Click to expand...
Guess you would have to call his local.
 
no the charts just stop at 30 and the do use the actual years. i know one employee that retired with 37 years and that is the number that they used i saw it went he got his confirmation back.
 
Pension

yes you may work 34 to receive 30 yrs credit, but hopefully your annual wage went up those last four years to increase your monthly retirement check.
 
I know a Teamster thats just made his 30 years..

he was telling me and two other drivers at one customers that when he when't to sign up for his retirement.
The union office said he would get a bonus if he was willing to work another full year,insted of taking his retirement at 30 years credit.

I have no idea if this is a true story?

But there were three of us that he was telling,one was a Teamster.

The Teamster driver seemed surprised,saying he didn't know the union made that offer?

Maybe some of you union posters can confirm this,or denigh it?
 
bunypnutdad said:
wher can I find that in writing. Im not saying that your not telling the truth but would like to read it in some type of offical doc.
Click to expand...

What is it that you want to find in writing?

The money part is just a formula: $115 per month for each year of service (earnings don't enter into it).

The part about pro-ration is just the most likely way they'll handle it.
 
Apostolic said:
he was telling me and two other drivers at one customers that when he when't to sign up for his retirement.
The union office said he would get a bonus if he was willing to work another full year,insted of taking his retirement at 30 years credit.

I have no idea if this is a true story?

But there were three of us that he was telling,one was a Teamster.

The Teamster driver seemed surprised,saying he didn't know the union made that offer?

Maybe some of you union posters can confirm this,or denigh it?
Click to expand...

As i said in the above post in the local 707 pension up until the end of 2005 it is $115 a month for each year of service. 30 yrs, 31yrs or 35yrs its $115 a month for each year.
 
Apostolic said:
he was telling me and two other drivers at one customers that when he when't to sign up for his retirement.
The union office said he would get a bonus if he was willing to work another full year,insted of taking his retirement at 30 years credit.

I have no idea if this is a true story?

But there were three of us that he was telling,one was a Teamster.

The Teamster driver seemed surprised,saying he didn't know the union made that offer?

Maybe some of you union posters can confirm this,or denigh it?
Click to expand...
There is an incentive program in place in the Upstate NY plan. I didn't pay any attention to it cuz I wasn't staying 1 minute longer than I had to for my full retirement benefit, but I'll try and find it and get back to you.
 
Apostolic said:
he was telling me and two other drivers at one customers that when he when't to sign up for his retirement.
The union office said he would get a bonus if he was willing to work another full year,insted of taking his retirement at 30 years credit.

I have no idea if this is a true story?

But there were three of us that he was telling,one was a Teamster.

The Teamster driver seemed surprised,saying he didn't know the union made that offer?

Maybe some of you union posters can confirm this,or denigh it?
Click to expand...
Teamsters Local 560, Union City N.J. adds a 5 percent bonus for every year worked after age 57. It doesn't matter how many years worked in the local.

We just had a former CF driver retire yesterday with only 5 yrs in local 560. He is 62 and gets a 30 percent bonus for those 5 years worked in 560.

So someone starting at todays rate of $140 per credit = $700 per month for 5 yrs at age 57. but at age 62 = $910 per month
 
My years of Teamsters service,at 55 gets me $810.00

per month.
I have just 20 years credit,all old years.
1966 to 1986.
I'm 62 &1/2 now,but can't start collecting any union pension till I get out of trucking.
I could drive a bus,such as a school bus,but nothing with any kind of trucking.

I know that its always been in the union by laws that if you draw a union pension you can no longer work in the trucking industry.
Even if you purchase a truck,and become an owner operator.
This is because your taking work away from another truck driver.

I took a withdrawel from the Teamsters in 86'freezing my pension, to hire on with Overnite.
God is still blessing me with good health,so I plan to keep working untill I'm not able to keep up the pace,than cash in my chips,to do something else.
I've seen to many workers that worked hard all their lives,retire to an easy chair.
Than they had a dirt dinner in short order.
In other words you can't work hard,than go home to a life of ease ,or you'll be dead before long.
Guess thats the way God made us.
He wanted us to live an activie life.
 
Every district or area is a little different, so you would have to contact your local on there retirement plan. But as always, I've got one thing to say about retirement. If you don't save your own your a dumb A@@! Union or non, companies lose the money all the time. You may think that ups is untouchable, but you never know. At least the funds are protected by the fed, and you'll always get something. Oh, and its free , ruffly 11k a yr, which leaves you to still invest in your 401k as per usual. Just no match.
 
pension

in the UPSF non union pension you will lose half of the value of your SS when you start receiving your SS check. That would not happen if you we're receiving a union pension correct?
 
WOW Old School I didn't know that?

When I was turning 62 I just never checked into my Social Security benefits.
I felt I'm very blessed of God to have such good health,and am able to still do the work,so I just stayed with it.

If I keep working as long as I can God only knows when my final day on earth is?

Maybe I'll be able to work till the end,and let my wife reap my benefits?

I'd like that very much if it works out that way.

I know my fellow drivers would like to see me move out of the way so they could move up the food chain.
I know they weren't the happy campers when they found out I wasn't going to retire on my 62 birthday.

But hey I paid my dues in the trucking industry,so to speak.
I came up the hard way,mostly floor loads,no power steering,or air conditioning.
Also many other hardships in the earlly years.

So they'll just have to wait for God to move me out.
It works for me.
 
Old School said:
in the UPSF non union pension you will lose half of the value of your SS when you start receiving your SS check. That would not happen if you we're receiving a union pension correct?
Click to expand...

I know of no teamster pension that reduces your benefit because you collect social security.
 
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