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UPSF sold to TFI

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  • #16
    Re: UPSF sold to TFI

    Originally posted by Sayheykid View Post
    To be honest with you, UPS tried to run us like Parcel..they have no ideal how to run a freight company IMO....and second I think they have been shopping us around for a while...kinda happy someone bought us...(no one buys a Union Company)..IMO, if they didn't find some one soon they would have liquidated us IMO..all are tractors are Brown now..and I think they are going to keep them.IMO..thats why the price is so low.....I plan on retiring in a year...but still want that pension to keep going or it will dry-up..that is why IMO it is a must..and I tell the young guys not to give it up EVER..for me and them.
    I think your right Kid,UPS never wanted freight,their heart was never in it,the only reason they did it was to compete with Fed-Ex...Couldn't stand the thought having their drivers 'wait' around for anything,reminds you kind of like APA...LoL...I remember reading UPS planned on keeping all 'branded' tractors and trailers,so yes,the price was very low...And how about the real estate?...Own,lease,rent terminals?...And the technology was all UPS,so now your looking at another expense,implementing their own...Let's hope for the best,but these days,I don't trust them as far as I can throw them,especially when it comes to Unions and pensions....

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    • #17
      Re: UPSF sold to TFI

      Originally posted by 2631 View Post
      Sayheykid, are you in a UPSF single employer pension fund?
      Are pension is different than Parcel..we are not in there plan (Teamsters) it's by UPS..and if money stops coming into it..well we all know what happens than don't we..it must continue.

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      • #18
        Re: UPSF sold to TFI

        Originally posted by wizard View Post
        I think your right Kid,UPS never wanted freight,their heart was never in it,the only reason they did it was to compete with Fed-Ex...Couldn't stand the thought having their drivers 'wait' around for anything,reminds you kind of like APA...LoL...I remember reading UPS planned on keeping all 'branded' tractors and trailers,so yes,the price was very low...And how about the real estate?...Own,lease,rent terminals?...And the technology was all UPS,so now your looking at another expense,implementing their own...Let's hope for the best,but these days,I don't trust them as far as I can throw them,especially when it comes to Unions and pensions....
        For all it's faults...APA was much better run than UPS Freight IMO...better run than most freight companies..yesterday or today IMO...sometimes you don't know what you have till it's gone.

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        • #19
          Re: UPSF sold to TFI

          Originally posted by wizard View Post
          I was wondering when you were going to comment Kid,it's going to be very interesting to see how this plays out...The CEO statement...''improve TForce Freight's efficiency and productivity''....My question would be...Who in the name of Un-Holy Hell is more efficient and productive then UPS?...A lot of different interpretations with that statement...

          ups is horrible at moving freight,...

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          • #20
            Re: UPSF sold to TFI

            Originally posted by Sayheykid View Post
            Are pension is different than Parcel..we are not in there plan (Teamsters) it's by UPS..and if money stops coming into it..well we all know what happens than don't we..it must continue.
            Are you sure about that???

            When ups bought Overnite they were allowed to buy out of Central States pension and move the drivers to a stand alone pension fund, Which we are a part of,.....
            That's why tfi doesn't get to buy or take over our pension, And for that matter ups will still retain the assets of the Overnite pension,....When the last beneficiary die ups keeps that money,..

            In my opinion the ONLY reason ups bought Overnite was to write that one billion dollar check to get out of Central States,....That alone saved them BILLIONS in future liability's,...

            Honesty, I wouldn't put it past ups to be giving the tfi owner a check under the table to run us into the ground so they don't look bad,...

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            • #21
              Re: UPSF sold to TFI

              ups freight update: Upsf/tfi pension communications

              the following memoranda was sent today to all teamster local unions representing ups freight members from kris taylor, ups freight coordinator, teamsters package division

              this is to inform you that we received the below information from ups freight concerning pension issues. Please advise your membership accordingly. We will pass on any additional information as we receive it.

              At the end of april with the close of the sale, upsf employees will receive general communications letting them know that the pension calculations while employed with ups are being prepared.
              Included in the april communications will be an updated copy of the summary plan description.
              By august employees will start receiving individualized pension statements with their deferred vested benefit, yos and pension credit.
              Employees will continue to have access to the pension calculator in upsers.com, up to the point when tfi transitions/transfers all the employees into their hr systems.

              https://teamster.org/2021/03/ups-fre...c90cvmu4qoa7bg

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              • #22
                Re: UPSF sold to TFI

                https://teamster.org/wp-content/uplo...eesApril22.pdf

                Date to be given: As soon as possible
                For: All UPS Freight Union Employees
                Introduction
                With the approaching close of the transaction, we’re excited to share what can be
                expected after the close of the sale on April 30.
                To pave the way for a smooth integration, we’re operating business as usual for many
                of our processes in the near term. However, as we integrate with TFI International, we
                may harmonize our policies, processes and systems.
                Your health and welfare benefits, such as medical, dental, vision, life and disability, all
                remain the same for the rest of the plan year. As in years past, benefit elections for
                2022 will be available in the fall.
                But for now, here’s an overview of what to expect:
                Key Messages
                Teamsters 401(k) plan
                ● Participation in the Teamster-UPS National 401(k) Tax Deferred Savings Plan will
                cease at transaction close date (no deferrals to be made for pay period beginning
                April 25). TFI International will be offering you a new 401(k) plan through
                Prudential. Enrollment elections in the new plan can be made from May 3, 2021
                through June 2, 2021. You will need to enroll in the new 401(k) plan by May 7,
                2021 at 4 p.m. EST if you would like deductions to continue in your first paycheck
                with TFI. If you do not enroll or opt out of the plan within 30 days, you will be
                automatically enrolled at 3%.
                ● You will also have the opportunity to roll over any balance you have in your UPS
                401(k) plan to your new Teamsters TForce Freight 401(k) plan during this special
                enrollment period. If you roll over your loan to the TFI 401(k) plan, your loan
                payments will continue to come out of your paycheck. If you have a loan currently
                and choose not to roll your balance into the new TFI plan, you will be required to
                set up direct payment through an ACH with Prudential or else your loan will be
                defaulted.
                You will receive a letter from Prudential with details on how to enroll soon.
                IAM 401(k) plan
                ● If you are a Union member participating in the IAM 401(k) Plan, you will not have
                a new 401(k) plan. You will continue to participate in the IAM 401(k) Plan that you
                are in today.
                Paychecks
                ● Paychecks will be issued on the same frequency, but they will have the TForce
                Freight logo on them. Deductions for United Way and DESPP will stop on April 30.
                Hourly Rate and Vacations
                ● For union-represented UPS Freight employees, all terms and conditions such as
                pay, healthcare, vacation hours and retirement will stay the same.
                Pension
                ● Per the collective bargaining agreement, you will cease to accrue benefits in the
                UPS Pension Plan as of the transaction close date. TFI International will establish a
                new plan consistent with the terms of the collective bargaining agreement effective
                as of the transaction closing date.
                UPSers.com Access
                ● At the time of close, current employees will have access to all of the information
                needed including the “View Your Paycheck” option and the Benefits Service
                Center. UPS Company news and other UPS-specific items will not be visible to
                TForce Freight employees.
                Website
                ● The TForce Freight website will launch on Day One and can be found at
                www.tforcefreight.com.
                Uniforms
                ● TForce Freight uniforms have been shipped to all service centers but should not be
                worn prior to May 3. They will be distributed soon. UPS uniforms will need to be
                returned to service centers prior to May 14. The new uniform will consist of the
                TForce Freight shirt and your current UPS-issued pants/shorts.
                Equipment and Buildings
                ● UPS Freight equipment and signage at buildings will be rebranded in a phased
                approach.
                Conclusion
                Many Questions and Answers are posted on UPSers.com about other aspects of the
                transition. Check out Local News on UPSers.com for more information.
                As more information becomes available, it will be shared. If you have other questions,
                reach out to me or anyone on our management team.
                Last edited by crazy; 04-23-2021, 06:12 PM.

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                • #23
                  Re: UPSF sold to TFI

                  And therein ends what could have been a successful freight company.

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                  • #24
                    Re: UPSF sold to TFI

                    The Canadian company was to take over on Monday. They will still be dealing with UPS Freight labor guy for awhile. A one of their drivers told me this.

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                    • #25
                      Re: UPSF sold to TFI

                      UPS has decided to get out of the less-than-truckload (LTL) business.

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