UPS Long Term Disability Plan?

[330Driver]

A question for the UPS folks:

I have been reviewing the new UPS pilot contract, but I can not find any details on Long Term Disability coverage (LTD) for pilots. I can find information regarding a 20 month LOL benefit, but I am assuming that UPS also offers a comprehensive LTD benefit plan for those pilots who lose their FAA medical certification. Most major airlines provide a plan which pays LTD benefits until the pilot reaches retirement age.

So......I was wondering if UPS does offer such an LTD plan, and if so where can I find more details? The reason I ask is that I have a UPS interview coming up soon and I am attempting to research the pay/benefits package.

Thanks.!

 

[Big Beer Belly]

So......I was wondering if UPS does offer such an LTD plan, and if so where can I find more details?

UPS does not offer LTD insurance as a provided benefit. Most purchase protection privately or through an IPA negotiated plan.

Good luck on your interview.

BBB

 

[L'il J.Seinfeld]

The LTD plan is very, very cheap. It pays 2/3 of your guarantee until you reach 65. I thought it was through UPS and not the union, but I am not sure. I would have to defer to BBB.

You only get 2/3 of guarantee but it is not taxed, so it amounts to the same take home pay. Also, our guarantee equates to 81 hours a month, so once on 2d year pay your disability pay would be 75k per year net.

Benefits and pay are the very best part of this job. Unions have had a very good track record with getting great bennies from UPS.

 

[ChinaClipper]

Be Careful!

Some LTD's are only if you cannot find ANY type of employment! Some folks who can't hold an FAA Med aren't "disabled" by some plans definitions. Check the wording carefully! BTW I don't know jack about UPS bennies, but I am a bit of an expert on Big Insurance Co's BS!

 

[Big Beer Belly]

Some LTD's are only if you cannot find ANY type of employment! Some folks who can't hold an FAA Med aren't "disabled" by some plans definitions. Check the wording carefully! BTW I don't know jack about UPS bennies, but I am a bit of an expert on Big Insurance Co's BS!

Excellent point! BUT, in this case our policy pays if you cannot obtain employment as a 121 pilot. You can collect LTD and sell pipe fittings at Home Depot, for instance.

BBB

 

[330Driver]

Hey BBB,

So if I understand correctly the only LTD plan available at UPS is a group plan available to IPA members only. Do you know if this plan is available to new-hires, or only after a year of so of membership?

Thanks for your assistance.

 

[L'il J.Seinfeld]

The plan is available to newhires, who technically are not in the union yet. I know that is true because I now can remember signing up for it.

 

[AV80R]

Ltd @ Ups

I agree with L'il Seinfeld – our LTD plan is very cheap and it is available to new hires as well. I signed up for it during our “welcome to UPS” dinner with the union which was our day 6 at UPS I think. When I was signing up I actually followed up with a phone call to double check how the plan worked because I had my doubts - it sounded too good to be true.

Basically, unlike many other plans (including one at a previous airline) – we cannot be “forced” into another profession. It specifically pertains to airline pilot position so if for whatever reason we lose our 1st class medical (or 2nd if a "domestic" fo - in other words on a fleet that doesn't utilize IROs) we’ll be getting 2/3 of our guarantee until we turn 65. And like LJS said our guarantee is 75 hours times 13.

The LTD insurance I had in the past would let me stay at home for a couple of years, and then I’d have to look into being retrained to do something else if I couldn’t get my medical back. No so with our plan and I think it’s great.

Let’s say someone is on his/her second year pay in 2010 when he/she loses the first class medical. The payments would be 2/3 of 128,700 (132*75*13) or $85,800 tax-free until age 65. That’s how it was explained to me.

Second year FO pay in
2008: $112/hr
2009: $122/hr
2010: $132/hr
2011: $143/hr
2012: $149/hr


So if I understand correctly the only LTD plan available at UPS is a group plan available to IPA members only...

I’m not sure about that, we had a few new-hire managers in our class and they were talking about the LTD as well, and it sounded almost identical to what we had. I think that maybe IPA and UPS work together on this plan? I don’t know, I’m just guessing…

 

[L'il J.Seinfeld]

The union has worked so that your pay while on LTD increases. You will be paid 2/3 of whatever the current pay is for the seat you were in. For example, if you left as a year 3 FO you will always be paid as a year 3 FO but at the current rates and not the rates when you left.

 

[AV80R]

Correct, that's what I was told as well but forgot to mention. Like I said, I think our LTD is awesome!

The union has worked so that your pay while on LTD increases. You will be paid 2/3 of whatever the current pay is for the seat you were in. For example, if you left as a year 3 FO you will always be paid as a year 3 FO but at the current rates and not the rates when you left.