is joining the teamsters worth it?

The workers at New Penn in jersey had to give up all kinds of concesions to keep the company open. The drivers there now have to work 4 years in order to have 1 good year in the pension. However, UPS Frieght has a pension that is completely solid since the teamsters do not manage the pension fund. It is still a pension plan that is managed by the company.

 

Look at the Job for the pay and benefits only. Chances are the Company or even the Teamsters themselves won’t be around in 20-30 yrs. Save for your own retirement. Start while you’re young, while Time is on your side. Even if it’s only a tiny amount you can afford now. Get the ball rolling now.Promised future benefits always seem to disappear. IRA of any sort, based on sound advice from a financial planner. That’s the only way you can guarantee your future. Every Union Job I’ve had (3) have ceased to exist. The companies are still around, but are now non union. Only a few left. First chance of profits in the red and they too will restructure. Don’t count on the Union. This isn’t the 1950s or 60s or 70s. Things have changed. Especially for Trucking, once the most Unionized Industry.

 

Lot of union shops have free or cheap healthcare. That in itself can be a significant raise. I have great insurance through my company for myself, my wife and my son, but it costs me $650 a month. It hurts a lot on payday, but I'd rather have a little regret on payday than be up #### creek without a paddle if something happened to one of us.

 

Save and invest your own money into/with your own discretion. Unless Jesus comes back before., anything like a union guarantee or great healthcare will just be extra gravy lol

 

Would those employees have stayed there for 50 years if it wasn’t such a great gig?

 

Pensions vary, not all are managed by the same entity. Regardless, just plan on it not being there, and think of it as a nice ‘surprise’ bonus if it is. You’re not really paying for it anyway.

The pension is just one of many positives.

If the company also offers a 401k, get in on it. At min, max out the company match. Make lots of money, raise your social security income. Pay off your house & other debt, get your house & vehicle(s) in tip top shape before retiring. And in the meantime, take vacations. Enjoy life. Take care of your health. Live within your means and you’ll be able to afford all of the above.

Any company or union local questions, talk to a steward. The company may even offer to call one in to talk to you at some point in the interview process.

 

You don't have to ask, they are all online

 

The only true downside to the union gig is: If a more senior guy comes into your company because of their company going under, he will get your job, and you will be sitting until a spot opens up again in your company.