Can you retire under this contract? Y/N

[Thebrownblob]

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

They are covered forever nothing to worry about no matter what

 

[Up In Smoke]

Lol come on man the fed hasn’t made anything clear.

They tried to raise rates and restrict securities purchases in 2018 and the market lost 20ish% over 4 months before they reversed course. So, in 2021, when they again announced the rate hikes and QT program, that was the signal to the markets that capital was going to become more expensive and bottom lines were going to get squeezed. To me, that was a clear signal that the drops of 2018 were going to happen again. Most market "experts" were predicting it also. Growth stocks were the most exposed because many of those companies were way over valued and relied on refinancing capital to sustain profitability. The Fed said multiple times that they can't be concerned with the market as they battle inflation and overexposure to the securities market.

 

[Thebrownblob]

They tried to raise rates and restrict securities purchases in 2018 and the market lost 20ish% over 4 months before they reversed course. So, in 2021, when they again announced the rate hikes and QT program, that was the signal to the markets that capital was going to become more expensive and bottom lines were going to get squeezed. To me, that was a clear signal that the drops of 2018 were going to happen again. Most market "experts" were predicting it also. Growth stocks were the most exposed because many of those companies were way over valued and relied on refinancing capital to sustain profitability. The Fed said multiple times that they can't be concerned with the market as they battle inflation and overexposure to the securities market.

You just outlined clearly the Fed doesn’t know for sure what to do. As well as they would love to manipulate the market as much as possible. This is a good system? This is fair? I don’t think so.

 

[BigUnionGuy]

They are covered forever nothing to worry about no matter what

Unfortunately.... members think that refers to the UPS/IBT plan if Central States defaults.

 

[Thebrownblob]

Unfortunately.... members think that refers to the UPS/IBT plan if Central States defaults.

Correct they “think” they’ll be covered

 

[Thebrownblob]

Correct they “think” they’ll be covered

I’m not a Democrat I’m not a Republican, i’ll give kudos to either side when they do the right thing. I’m not certain getting the pension money would’ve happened if it was a Republican controlled senate and house. And without that money it would’ve been disastrous apocalyptic style for our retirees as early as 2025?

 

[BigUnionGuy]

Correct they “think” they’ll be covered

I hope we are talking about the same part of the contract ?

 

[Up In Smoke]

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.

I would gladly help anyone who wants to take a little more control over their retirement outcomes. I mentor at our building and conduct investment programs with the help of an advisor to give employees of all ages the insight needed to invest confidently. Blaming someone or something else for loses is a cop out.

 

[Thebrownblob]

I would gladly help anyone who wants to take a little more control over their retirement outcomes. I mentor at our building and conduct investment programs with the help of an advisor to give employees of all ages the insight needed to invest confidently. Blaming someone or something else for loses is a cop out.

I’ll tell you what call Sean O’Brien and see if you can open a personal investment division in Teamsters and help all the brothers and sisters. I think it’s a great idea

 

[BigUnionGuy]

I would gladly help anyone who wants to take a little more control over their retirement outcomes. I mentor at our building and conduct investment programs with the help of an advisor to give employees of all ages the insight needed to invest confidently. Blaming someone or something else for loses is a cop out.

Thats a pretty auspicious endeavor.... for a PT employee.

You and @wilberforce15 need to team up.

 

[DELACROIX]

Unfortunately.... members think that refers to the UPS/IBT plan if Central States defaults.

Correct they “think” they’ll be covered

I believe that the Union negotiated solid language about the Company making up the difference if the Central went under back in 2007 when they bought out of their Central States liabilities. It only applied to the active UPS members, those retired prior to 2008 were fair game. There is more behind the scenes with this Federal Bailout, which was heavily lobbied by both parties. Will the Company try to rid any responsibilities associated by eliminating that protective language in the 2023 Contract?

The Company will never get their way with the Western pension plans like they did with the Central...they are too well funded and more importantly growing.

The timing of the Company eliminating additional vesting and monetary contributions means something. Those management plans were well funded from the get go, maybe too much so?

 

[wilberforce15]

Thats a pretty auspicious endeavor.... for a PT employee.

You and @wilberforce15 need to team up.

PT employees are the ones who might have real jobs on the side, or real educations. The average PTer is worth mocking. But the PT ranks also contain all the ones with real brains and jobs.

I don't tell anyone what I do, and I would never even think of hinting at financial advice. Any actual work takes way more time investment than any fellow hourly is willing to put in, and more time than I'm willing to give them. These subjects are actually difficult.

I can't think of anything more futile than trying to explain investment advice to a FTer.

 

[BrownFlush]

You just outlined clearly the Fed doesn’t know for sure what to do. As well as they would love to manipulate the market as much as possible. This is a good system? This is fair? I don’t think so.

Inflation?
Feds respond with the same action as always: Raise interest rates.
Reaction? The history never changes.
Market fears, stocks tank.
Kills the housing and construction market. Public holds back spending(save all you can, they told us we are in a recession), less spending always results in higher prices.
Live it up socialist.

 

[BigUnionGuy]

The average PTer is worth mocking. But the PT ranks also contain all the ones with real brains and jobs.

Oxymoron ?

 

[wilberforce15]

Oxymoron ?

Only at UPS can a bunch of box truck drivers look down on electricians, plumbers, programmers, and people in school for real subjects.

But that's what we have here.
I know a dozen PTers who have Master's degrees, or who own businesses and employ lots of people, and make more than drivers.

 

[BrownFlush]

Only at UPS can a bunch of box truck drivers look down on electricians, plumbers, programmers, and people in school for real subjects.

But that's what we have here.
I know a dozen PTers who have Master's degrees, or who own businesses and employ lots of people, and make more than drivers.

And they all have Tesla's and are just simply better than everyone else.

 

[wilberforce15]

And they all have Tesla's and are just simply better than everyone else.

No, I already said the average PTer was worth mocking.

I know reading isn't your strong suit, unless it's a single word as a road name. Try to keep up.

 

[BrownFlush]

No, I already said the average PTer was worth mocking.

I know reading isn't your strong suit, unless it's a single word as a road name. Try to keep up.

I crap bigger than you are.

 

[wilberforce15]

I crap bigger than you are.

I already told you to see a doctor and a dietitian.

 

[Integrity]

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.

Y