Word: pensioneer
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...Carey, a former UPS driver, the strike by 185,000 Teamsters over issues ranging from the company's pension plan to part-time workers represents a desperate two-front battle. He sorely needs a big win to maintain his political advantage over archrival James Hoffa Jr., son of the notorious Teamster boss who disappeared under mysterious circumstances in 1975. Carey edged Hoffa in the race for the presidency last fall, but Hoffa has jumped on the fund-raising charges to demand a new election. "If Carey loses the strike or is perceived to have lost, his position...
Despite such rhetoric, the battle over the UPS pension plan struck many observers as a far stickier issue. UPS pays more than $1 billion a year into 31 Teamster pension funds whose beneficiaries include workers at financially weaker companies. But UPS wants to pull out of the plan and set up a fund with the Teamsters solely for its own employees, which the company says could add 50% to its workers' retirement benefits. Not so fast, say the Teamsters, who want the contributions to continue being spread among more of its members and have refused to authorize a vote...
...workers went on strike in early August demanding higher wages and changes to the pension plan. UPS had returned to only 10 percent of its normal daily volume by using 50,000 managers and administrative employees, the company said in a statement...
...Correspondents on the scene feel the two sides are nudging closer to a deal. "I think we're witnessing two battle-weary opponents," said TIME Washington correspondent Bruce Van Voorst. UPS head James Kelly signaled concessions on the pension issue yesterday, and 16 hours of talks at the Washington Hyatt hotel plus a resumption early today suggests progress. But while pensions and part-time workers remain an issue, don't expect the parcels to start flying again any time soon...
...join the strikers. And with President Clinton virtually ruling out federal intervention, it could be a long time before the dispute is settled. At issue for the Teamsters is limits on subcontracting and more full-time jobs. The company's desire to withdraw from the Teamsters' multi-employer pension and health funds is another key sticking point in the dispute. While the union has vowed to fight to the bitter end, the strike is certain to cost it dearly, with weekly expenditures reaching $10 million, much of it in the form of strike benefits...