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Brown Cafe UPS Forum
UPS Union Issues
Bye Bye Pension and Hello to matching 401k coming in 2023?
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<blockquote data-quote="CoffeeStainedUniform" data-source="post: 3729898" data-attributes="member: 73423"><p>Current proposed pension breakdown</p><p></p><p>$12/hr pension contribution. 2,250hr work year $27,000/year contribution. 35 year to full retirement. If you made ZERO interest on your money you would have $945,000 in the bank. If after retirement you made 3% on your money you could draw $4300/month for just over 26 years.</p><p></p><p>*edit* I did the math and 35 contributing and earning 1.5% would give you $4300/month for an additional 30 years.</p></blockquote><p></p>
[QUOTE="CoffeeStainedUniform, post: 3729898, member: 73423"] Current proposed pension breakdown $12/hr pension contribution. 2,250hr work year $27,000/year contribution. 35 year to full retirement. If you made ZERO interest on your money you would have $945,000 in the bank. If after retirement you made 3% on your money you could draw $4300/month for just over 26 years. *edit* I did the math and 35 contributing and earning 1.5% would give you $4300/month for an additional 30 years. [/QUOTE]
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Bye Bye Pension and Hello to matching 401k coming in 2023?
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