Can you retire under this contract? Y/N

[Johney]

How is you pension funded? With what?

Not sure what you mean. UPS/IBT UPS pays it till I’m 65 then Central States kicks in for half.

 

[floridays]

Not sure what you mean. UPS/IBT UPS pays it till I’m 65 then Central States kicks in for half.

Where do these pension funds have their assets (the same for 401-k's) invested and what happens if these assets vanish?
Anyone with a claim on either of these are only a name on a ledger with a promise to receive a future claim.

 

[DELACROIX]

Where do these pension funds have their assets (the same for 401-k's) invested and what happens if these assets vanish?
Anyone with a claim on either of these are only a name on a ledger with a promise to receive a future claim.

Not an expert...401k’s and pension trusts are invested in the stock market, annuities and bonds...generally they pay at a rate of 8 to 10 % annually, 2021 was an exceptional market return...guessing over 20 percent.. 2022 will be another story. It evens out eventually..

Every investment retirement plan is protected by the PBGC, they collect insurance fees from these
Pension trusts for every active participant who has vested time under those plans. The private pension plans pay an higher premium than the multi employer pension trusts , but they get a higher settlement if the plan defaults.

With a defined pension plan the employer had to pay at the end of the year a fixed amount to cover the promised benefits. If the investment returns do well they get to keep their final profits and give it to their shareholders.

 

[SorryLazyPOS]

Still making payments on my ex-wife's boyfriend's boat. So probably not.

Hey we’re in the same boat.

 

[olroadbeech]

A Vanguard study found those between 55 and 64 held an average of roughly $256,000. But this includes high income earners; breaking the figures down, it shrinks to a median of about $90,000.

So if you’re 60 American and make $50,000 per year, that means you should have $400,000 saved in your retirement account. As you can see, neither the average nor the median retirement amount comes even close.

Any retired UPSer at age 65 should be in the top 5% of savers in this country. This study is just averages. That means some 65 year olds have 0 and some have a million. and everything in between.

I know a LOT of retired UPSers that are millionaires.

Don't take this article seriously.

 

[floridays]

Not an expert...401k’s and pension trusts are invested in the stock market, annuities and bonds...generally they pay at a rate of 8 to 10 % annually, 2021 was an exceptional market return...guessing over 20 percent.. 2022 will be another story. It evens out eventually..

Every investment retirement plan is protected by the PBGC, they collect insurance fees from these
Pension trusts for every active participant who has vested time under those plans. The private pension plans pay an higher premium than the multi employer pension trusts , but they get a higher settlement if the plan defaults.

With a defined pension plan the employer had to pay at the end of the year a fixed amount to cover the promised benefits. If the investment returns do well they get to keep their final profits and give it to their shareholders.

Thanks Delacroix,

I understand all of this.

To be honest my line of thinking was directed, first by a funny to a post made by @Up In Smoke, he thinks he has it all squared away.

I wasn't attacking the pension in later posts, I was merely extending the same line of thinking to them.

Your names are a line on a balance sheet and I wouldn't put my trust in the fulfilment in this day and age more importantly in the future, in view of the direction we seem to be going forward.

I don't wish that on anyone, I just don't place any trust in the direction we seem to be heading.

I think assets in hand, not on a ledger are more reliable, that is not to say they cannot be taken as well.

I hope I am wrong, I don't think I will be though.

Just my opinion.

 

[BrownFlush]

Shouldn't have to withdraw anything from the 401ks

I haven't touched my 401KKK, either.

Last year I also load my exposure to equities

I've been exposed to all this equity stuff, too. Socialist Democrats are pitiful.

I know a LOT of retired UPSers that are millionaires.

November 10, 1999
A date that will live in infamy.

 

[100%]

2021 had nearly 25% returns in the indexes. The market began to pull back on the Fed's announcement of QT and raising short term interest rates. They gave everyone ample time to reset their retirement assets. The Fed attempted this in late 2018 and early 2019 and the market had a similar 20% plus pull back.

They haven’t even really started QT yet so you’re in for show.

 

[Thebrownblob]

They haven’t even really started QT yet so you’re in for show.

It’s a rigged system, anyone who thinks they’re in control has not figured out the truth yet.

 

[100%]

I’m amazed at the amount of drivers who just in the course of small talk, or I’ve overheard conversations saying they put zero in the 401k. 401k? What do I need that for? We get a pension. I probably go overboard with my contributions, Roth about $300 per week. Do I wish I had that extra $300 every week, of course but I know retirement will be a lot better.

I can only speak for me, but I stopped contributing a couple years ago when I saw that my 401k was gonna be wiped out. I have real estate so I know my retirement will be a lot better.

 

[100%]

Where do these pension funds have their assets (the same for 401-k's) invested and what happens if these assets vanish?
Anyone with a claim on either of these are only a name on a ledger with a promise to receive a future claim.

Pension funds quite possibly can be wiped out with a market crash. It’s literally happening across the pond as we speak.

 

[Thebrownblob]

I can only speak for me, but I stopped contributing a couple years ago when I saw that my 401k was gonna be wiped out. I have real estate so I know my retirement will be a lot better.

I have not done that I still participate but I am no illusion.

 

[DELACROIX]

It’s a rigged system, anyone who thinks they’re in control has not figured out the truth yet.

Note reference to 5 year count down, previous 2013 Contract stated 10 years..!

Expect a change for some of our current pension trusts...

 

[Thebrownblob]

Correct it renews every contract. Hopefully

 

[BigUnionGuy]

Note reference to 5 year count down, previous 2013 Contract stated 10 years..!

Expect a change for some of our current pension trusts...

Everyone misunderstands what that means.

 

[Up In Smoke]

You think? Please explain.
I'll give you enough rope to hang yourself.

I learned long ago to buy individual stocks and back them up with options. By doing so, I'm guaranteed to never lose more than the premium for the option contract. The US stock market allows for exercising options prior to expiration date which gives me a chance to lock in profits as a stock loses value. Millionaires are made in an up market, billionaires in a down market. Mutual funds are the sucker bet in the stock market. You buy a group of companies and get a return on the average of them all, some winners and some losers. I would rather own a couple of those and manage my own outcome.

 

[Thebrownblob]

Everyone misunderstands what that means.

To be fair most don’t even know it’s in there at all.

 

[Up In Smoke]

They haven’t even really started QT yet so you’re in for show.

They have begun selling some of it's securities. They have reduced their balance sheet from 9T to 8.6T over the last couple months. You are right there is a long and painful road ahead.

 

[Thebrownblob]

They have begun selling some of it's securities. They have reduced their balance sheet from 9T to 8.6T over the last couple months. You are right there is a long and painful road ahead.

And yet you think you’ll be fine while you chastise others for losing money? A small amount of humility and a little empathy go along way.

 

[BigUnionGuy]

To be fair most don’t even know it’s in there at all.

In your estimation.... what do members think that language means ?