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August 07 Pension Update

August 30, 2007
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Letting UPS Withdraw Would Weaken Our Union’s Power

August 23, 2007
August 23, 2007: The assets of the Central States Pension Fund are on the rise and our union will lose long-term power in dealing with management if we let UPS split from the fund. Those are the findings of pension experts and industry observers according to areport in this month’s Traffic World magazine. That’s exactly why our union should reject UPS’s bid to break up the Central States fund. Instead, we should be negotiating benefit...

Will the Real Teamster Leaders Please Stand Up?

August 23, 2007
August 23, 2007: “It is the Teamsters’ pension—and particularly the multi-employer plan—that gives the union much of its draw and power, industry observers say.” —Traffic World Magazine, August 17, 2007. Every Teamster officer should know that, and most of them do. So why isn’t there a huge outcry from our union leaders against UPS’s move to split the Central States Pension Plan? Where are the leaders in the Freight Division and our International Vice Presidents?...

Rising Employer Contributions Mean Higher Pension

August 23, 2007
August 23, 2007: If UPS or ABF or any other corporation says they will do better than a $3,000 pension at 30 years, keep in mind that with the increased funding, that’s not hard to do. The Central States Fund is paying that now—and will be paying a lot more in a few years. A Teamster under the national contracts, or contracts with similar pension contributions, now accrues $132 per month pension for each year...

On Pension Fund Split: Your Voice is Your Vote

August 23, 2007
August 23, 2007: Sometimes, your vote is your voice. But on the issue of splitting UPS from the Central States Pension Fund, you won’t get a vote, unless you work at UPS. Because this could weaken our whole union, you should make your voice heard. Go to your September union meeting. Ask your local union officers to take a stand to defend our master contracts, and our Teamster pension plans. We want stronger pension funds...
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Eugene Braswell, UPS
Local 804, New York

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