People can't afford to have big families anymore
Is the UPS Teamsters Pension like Gold?
- Thread starter Over70irregs
- Start date
Can barely afford one kid.
newfie
Well-Known Member
there are scenarios where its good to take it early
newfie
Well-Known Member
that would piss me off
, i think ,It happened to my dad.that would piss me off
Wally
BrownCafe Innovator & King of Puns
East and West coast Teamsters are used to pension ripoffs.that would piss me off
rod
Retired 23 years
I agree-------------------------now
PT Car Washer
Well-Known Member
DELACROIX
In the Spirit of Honore' Daumier
We been through this before..the reason you are waiting till 70 is because you cannot afford it. Over 47 years as a part timer in the Central you quit accruing monetary benefits after 35 years period. The real issue is that you continue to see no problem with this, at least go down swinging.
Right now your wife gets 1/2 of your subpar pension when you pass if you decide to take the spousal deduction. All those years of working full time hours means nothing, get out now before your health and your wife forces you out. Then what good is a meager retirement benefit if either one of you cannot enjoy it…
PT Car Washer
Well-Known Member
I wouldn't call $9k/mo retirement meager. My wife also has her own retirement plan.
DELACROIX
In the Spirit of Honore' Daumier
Why is your wife’s pension plan better than yours ? I do not begrudge your decision to stay out of necessity. Does that 9 k include your SS and your wife’s SS ?
PT Car Washer
Well-Known Member
Who peed in your Cheerios this morning? $9k/month is all my money. Wife is several years short of retirement and is still working and adding to her retirement.
bottomups
Bad Moon Risen'
Your mom got $255.
They were divorced and she was remarried
There is a plan that has been floating DC for a number of years called Social Security 2100. A proposal that does NOT raise the retirement age but gradually raises the FICA tax over the course of several years.With SS increasing possibly to 73 does this make the UPS pension like GOLD?
Grant Cardone: Here’s Why I Predict the New Social Security Retirement Age Will Be 73
Right now, you can begin collecting Social Security benefits at age 62, although the full retirement age is between 66 and 67, depending on the year you were born. Check Out: I'm an Economist --...finance.yahoo.com
Don't forget, Macron tried to raise the French retirement age and was met with riots in the streets.
Now you can toss out all the different scenarios when it comes to what age to retire but more often that not the deciding factor is the person's health. In addition albeit perhaps a bit less often is efforts by the employer to use every trick in the book and some that are not in order to force out older workers and replace them with younger and cheaper labor.
UPS pension gold? While no defined benefit pension plan is completely safe from unforeseen and unfavorable economic forces the UPS plan is among the best in terms of benefits paid. Can it weather a 2008 style collapse? Beneficiaries can only hope it will.
And to help pay for the Vietnam War. And every administration since then has borrowed money from Social Security replaced it with Treasury Bills and when those bills matured pay back the cash.
They already raised the cap a lot and those people paying top dollar will never get that money back
Thebrownblob
Well-Known Member
The maximum payout right now is $2710 a month at age 62 if you made maximum earnings
My estimate is only a couple hundred dollars less than that and I paid nowhere near the $168 ,000
The more you make the less percentage you get
They may have to raise the age a little bit and or maybe lower the payments a little bit
But I can't see them raising the percentage of taxes they come out of your payroll for social security because it also be a big burden on your employer.
Whatever you pay for social security and Medicare your employer also matches that
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