Inflation
- Thread starter Karma...
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UnionStrong
Sorry, but I don’t care anymore.
And?
Bubblehead
My Senior Picture
Where does the money come from to increase pension benefits for those who are retired and no longer work there?
My dad gets central states pension and it’s not adjusted
401k?
DELACROIX
In the Spirit of Honore' Daumier
Employer contributions….
And please don’t go to “they can’t afford that”.
We just went through a pandemic on the same scale as 1917..will we see another 11 percent increase with the the world’s inflationary numbers in our lifetime.
What is the standard inflation rate now a days
5 percent. How come our Social Security Administration can afford to have one and these corporations can not. Do the math a 5 percent (COLA) boost on a 3,000 pension is an extra 150 dollars a month.
UnionStrong
Sorry, but I don’t care anymore.
Because the government just prints more paper money
burrheadd
KING Of GIFS
Brah…
Bubblehead
My Senior Picture
The employer is not interested in contributing to a pension fund on behalf of employees that are no longer on the payroll.
It's not that they can't, it's that they wont and I don't blame them.
Comparing a private sector pension fund to Social Security (which projected to go insolvent) is nowhere near an apples to apples comparison.
....and there is no "standard inflation rate", just historical trends and it's nowhere 11% or even 5 %, it's actually about half that.
Conversely if you examine the statistical data for any similar extended period of time, you will realize that our raises have outpaced inflation, which is what allowed top scale to climb all the way into the low $40s/hr and will be nearly $50/hr by the end of this contract.
It's comical to watch people who believe that UPS is in business to provide them a job and total financial security all the way to the grave.
What is being proposed in this thread will never happen,....ever.
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Bubblehead
My Senior Picture
It was a sarcastic, slapstick question, as UPS will never, ever contribute another dime to the pension on your behalf once you retire and separate from the Company....period.
Thebrownblob
Well-Known Member
Weird because I thought you hated unions they were communist?
rod
Retired 22 years
I've said it before---"once you retire the Union would prefer you die as soon as possible" and also I can remember as far back as when I was in 5th grade ( that would have been about 1959) the talk of SS going broke was going on. As far as the Company goes you are dead the second you walk out the door on your last day.
Thebrownblob
Well-Known Member
DELACROIX
In the Spirit of Honore' Daumier
Employers are not interested in contributing anything to their employees period.
That was the reason that Unions started in the first place.
So the Company is still dictating our Contracts or have always been. Anybody that has done any research into our pension concerns knows what is coming down the line in 2028, and it wouldn’t be beneficial if the general attitude is “they won’t do that” and I don’t blame them.
We all know that will not happen (insolvent).
So it would only be a 75 dollar a month (COLA) increase with a 2.5 inflation rate.
Guess what not everyone is making 40 dollars an hour currently and probably over 75 percent of our members will never see a near 50.
Anyone that is working and those who have retired are not the ones who got ant entitlements, study the salaries of these executives if you want to know who really obtained “total financial security all the way to the grave” and their children’s children.
You might want to reset your belief system on why we belong to a collective bargaining system..appeasement never works … especially in labor relations…(People helping People) remember that one.
Over70irregs
Well-Known Member
Income producing assets.
Over70irregs
Well-Known Member
Commercial Inside Release
Well-Known Member
That chart kind of illustrates a key difference between the current inflationary period, with the inflation of the early 80s. The massive gap between the truth (real inflation,) and the lies (official inflation.)
In the 80s you could earn 10-18% interest for doing nothing.
Today, we'll be lucky if can get 6-10% (when we should be at 12-20% right now.)
Plus, jobs are now being lost, food cost is inflating, energy is being squeezed (making food go higher still,) consumer confidence is wavering going into Fall & Winter, the Fed is probably going to hike rates 4 more times before the election, and the election means nothing is going to change until possibly Summer of '25...
And through it all, the average American's checking & savings account is still only earning 0.1% to 0.17% monthly interest.
In the 80s you could earn 10-18% interest for doing nothing.
Today, we'll be lucky if can get 6-10% (when we should be at 12-20% right now.)
Plus, jobs are now being lost, food cost is inflating, energy is being squeezed (making food go higher still,) consumer confidence is wavering going into Fall & Winter, the Fed is probably going to hike rates 4 more times before the election, and the election means nothing is going to change until possibly Summer of '25...
And through it all, the average American's checking & savings account is still only earning 0.1% to 0.17% monthly interest.
