Pension & Benefits
Shrinking Pensions for Philly-Area UPSers
UPS Teamsters are joining together to win a better contract and stop the downward slide in our pensions.
The cost of living is going up. But pensions for UPS Teamsters in the Philadelphia Fund are going down every year.
Why Philadelphia Pensions Are Falling Behind
Over the next ten years, the pension for a full-time UPSer retiring after 30 years will sink from approximately $3,900 to less than $3,200 a month.
Our pension benefits will be cut every year—unless we take action to win changes in our plan. What’s behind the Philadelphia Pension slide and what can we do about it?
Teamster Pension Divide
UPS Teamsters earn dramatically different pensions depending on the plan they’re in—with the company-controlled UPS Pension Plan in the former Central States areas paying the lowest benefits by far.
The Pension Comparison Chart shows the range and variation of benefits for the great majority of pension plans covering UPS Teamsters.
New Threats to UPS Pensions
Speaking at the UPS National Grievance Panel in Florida in early March, Ken Hall confirmed that the International Union is looking at early contract negotiations with UPS.
Protecting our pensions and healthcare has to be a top priority.
UPS has come after our pensions at the bargaining table before—and can be counted on to do so again. We need to be ready for the company’s new threats to our pensions and retirement security.
UPS Full-Time Pension Plan only 60% Funded
The new UPS-IBT Pension Plan, which covers UPS full-timers in 25 states, was only 60.7% funded as of 2010, according to its Annual Funding Notice and its Annual Report. Read the rest …
UPS Full-Time Pension Plan Has Website
For three years 44,000 full-time UPS workers in the Central and Southern regions and the Carolinas have been in a pension plan which is so secretive that it didn’t even have a website. Now it does. Read the rest …
Empty Promises at UPS
Under fire for weak contract enforcement at UPS, Hoffa and Ken Hall convened a national conference call last summer to brief shop stewards and promise International Union action.
But more than six months later, Hoffa and Hall remain out of touch and missing in action. Read the rest …
The UPS Pension Divide
Hoffa and Hall’s decision to let UPS pull out of Central States saved the company billions. It also locked tens of thousands of Teamsters into a substandard pension.
Read the rest …
The Teamster Benefit Divide
Hoffa let UPS pull out of the Central States and gave UPS Freight a free pass on paying Teamster benefits.
Now Teamster members are paying the price.
Read the rest …
IBT-UPS Pension Plan Keeps You in the Dark
Have you ever tried to get information from the new “IBT-UPS Pension Plan” that covers all full time UPS Teamsters in the Central and Southern Regions and the Carolinas?
If not, consider yourself lucky, because it’s not easy.
Read the rest …
Chicago Teamsters Fight Retiree Healthcare Cuts
Chicago Local 705 UPS retirees are mad as hell, and they’re doing something about it. They’re mad because UPS management suddenly raised their monthly health and welfare contribution from $50 to $157.58 for a single retiree and $315.17 for a retiree and spouse.
Local 705 and two retirees have filed a class action suit in federal court against UPS, and reportedly they are considering other actions as well. Read the rest …
The Teamster Pension Divide
A study of major Teamster pension plans by Teamsters for a Democratic Union (TDU) reveals a growing “Benefit Divide,” with the new UPS Pension Plan paying the worst benefits in the country.
By the end of the contract in 2013, the Benefit Divide will grow much worse, with tens of thousands of UPS Teamsters receiving 25- or 30-and-out benefits of $5,000 per month while the UPS Plan pays just $3,000. Read the rest …
New UPS Pension Plan Can Undercut Other Pensions
Potential Threat to Our Pensions in the Future
The removal of 44,000 UPS full-time Teamsters from Central States opens the door to lower pensions for all Teamsters down the road—not just in the Central States.
Whatever your pension plan, members need to understand why UPS wanted this deal and what it means for you. Read the rest …
