Bye Bye Pension and Hello to matching 401k coming in 2023?

[CoffeeStainedUniform]

It's kinda weird how all these crackerjack investors are driving trucks for a living...

We make good money, there isn't any reason 95% of drivers couldn't be multi millionaires throughout our careers. I want to see teamsters get more through their hard work and make better choices than they currently do.

Yes, I will be a 'crackerjack' investor and advocate for what I believe to be good advice.

 

[Jones]

We make good money, there isn't any reason 95% of drivers couldn't be multi millionaires throughout our careers. I want to see teamsters get more through their hard work and make better choices than they currently do.

Yes, I will be a 'crackerjack' investor and advocate for what I believe to be good advice.

Given that 95% of drivers aren't multi millionaires at retirement, there must be some reason.

 

[IVE GOTTA PACKAGE 4U]

Given that 95% of drivers aren't multi millionaires at retirement, there must be some reason.

How about the inds that retire and still have a mortgage payment. Absolutely unbelievable.

 

[rod]

How about the inds that retire and still have a mortgage payment. Absolutely unbelievable.

By the time you retire you should have yourself set up financially enough to not have ANY major payments.

 

[IVE GOTTA PACKAGE 4U]

By the time you retire you should have yourself set up financially enough to not have ANY major payments.

Some people are still paying for they vacation they couldn't afford in 2005 and refinancd their house 5 times.

 

[rod]

Some people are still paying for they vacation they couldn't afford in 2005 and refinancd their house 5 times.

some people are stupid

 

[IVE GOTTA PACKAGE 4U]

some people are stupid

Nothing wrong with living and a having a good time but you need a little balance.

I still shake my head at the guys that can't afford to put anything into a 401k but they have a new car every couple of years and go on two cruises a year.

 

[CoffeeStainedUniform]

Given that 95% of drivers aren't multi millionaires at retirement, there must be some reason.

There are many reasons. One major factor is the unwavering trust in our pensions. It's a crime that central states is in such a poor state. We do have a problem here.

 

[Bubblehead]

Nothing wrong with living and a having a good time but you need a little balance.

I still shake my head at the guys that can't afford to put anything into a 401k but they have a new car every couple of years and go on two cruises a year.

I'm hoping to get about 5 more years out of my 2007 F150....

 

[IVE GOTTA PACKAGE 4U]

I'm hoping to get about 5 more years out of my 2007 F150....

You need one of these.

And the car too!

 

[Steew]

I'm hoping to get about 5 more years out of my 2007 F150....

Maybe if it was a Toyota. You should be happy it lasted this long.

 

[IVE GOTTA PACKAGE 4U]

Maybe if it was a Toyota. You should be happy it lasted this long.

Found On Road Dead?

 

[Tony Q]

What I find most amusing;

Is the MOU has been in the contract since December 2007.


No one questioned it for 10 years.

All of the sudden (because a 4-year driver) makes a YouTube video....

His "interpretation" is regarded as credible.



-Bug-

You can’t save these people from themselves. Local 344 has their own pension plan and aren’t in the UPS IBT plan. The original language was from the initial central states but out. In all actuality we want ups to buy out more plans and combine them and make better pension plans. What is happening in Pennsylvania and other parts of the country will be an issue for the foreseeable future.


Unfortunately you can’t fix stupid. So vote it all down with the exception of the Eastern supplement and let’s see what happens.

 

[rod]

There are many reasons. One major factor is the unwavering trust in our pensions. It's a crime that central states is in such a poor state. We do have a problem here.

And the government had been put was in charge of overseeing them. That is the real crime. Washington should bail them out--they let them fail.

 

[Jones]

There are many reasons. One major factor is the unwavering trust in our pensions. It's a crime that central states is in such a poor state. We do have a problem here.

The major factor is that most people are not good financial planners. Are there some people at UPS for whom a 401k match would be a better deal than a pension? Sure, but they are very small (think minuscule) minority, maybe 5% at best. If you got rid of the pension and just added the current contribution to the member's paychecks those 5% would would do very well. There's another minority who would probably save more but still not enough to retire on. And probably at least half the drivers would continue to do exactly what they do now, spend every penny they get on new cars and the latest iphone.

 

[CoffeeStainedUniform]

...at least half the drivers would continue to do exactly what they do now, spend every penny they get on new cars and the latest iphone.

You're absolutely right, which is why we need to do our best to educate and encourage each other to make good decisions.

 

[IVE GOTTA PACKAGE 4U]

You're absolutely right, which is why we need to do our best to educate and encourage each other to make good decisions.

Nobody cares anymore. When is the last time you heard the credit union being promoted? How many seminars does the company have promoting the 401k?

 

[CoffeeStainedUniform]

Nobody cares anymore. When is the last time you heard the credit union being promoted? How many seminars does the company have promoting the 401k?

No clue. I've got a couple young drivers I'm helping to set themselves up. Hopefully I can help a few more drivers to get to a good retirement.

 

[1989]

How about the inds that retire and still have a mortgage payment. Absolutely unbelievable.

I will have at least 6 mortgages when I retire.

 

[burrheadd]

No clue. I've got a couple young drivers I'm helping to set themselves up. Hopefully I can help a few more drivers to get to a good retirement.

How much you charge