The next Pension Committee meeting will be Monday, July 19, 7:30 am at Friendly's at the corner of Rt. 7 and Wade Rd.

    Welcome to the Upstate NY Pension Committee Website. This site has information, including the schedules to be voted on, and links to websites that will help the members of the NYS Pension Fund make informed choices on their future benefits. Each contract negotiated by the 9 Teamster locals involved in the Pension Fund will vote separately on a schedule. This includes a separate vote by UPS full-timers and part-timers due to the different contribution rates of the 2 categories.

     Over the past 5 years the fund has lost over 30% of its assets due to the economy, has lost 15% of their contributors, with YRCW, New Penn and Holland temporarily suspending their contributions to the fund, and is currently paying over 16,000 retirees with less than 14,000 active contributors. Earlier this year the Pension Fund filed with the Government that they are in the "endangered zone" and have to adopt changes under the "Pension Reform Act".

     The Fund has devised 5 Schedules, A through E, and a default plan if these schedules do not bring the fund out of the "endangered zone" within 10 years. If no changes are made the Pension Fund could run out of money within 25 years. Each schedule has a different age component, accrual rate and contribution rate. The age component is what age we can retire at, at an unreduced rate. The accrual rate is what we gain towards our monthly benefits upon retirement. The contribution rate is the amount contributed per hours worked into the pension fund. These are the things to know when voting on the schedule that's best for you. Some of these schedules, will include diverting some of the contractual raises to pension contributions. Others will not, depending upon the contribution rate already negotiated in your contract. Please look over these schedules carefully. Your future and your families' future are dependent on this vote.

     The vote, whether it be by mail, or at your local union hall will be coming soon. Make sure you vote and have your voice heard. Knowledge is power, and that's what this website intends to give you.