Management Pension Buyout conversation time, again...

[busterbrowns007]

Wonder if they will ring the bell after ing us out of our retirement??

 

[hellfire]

I did not realize it came across that way ... so sorry if I made anyone feel more lousey.
Certainly another a nail in the coffin of the UPS Culture and I can empathize since I was there when the first nails were being driven. The lid is surely well nailed in place by now.

As an explanation for my posts, I was thinking about it in terms of a person preparing for retirement in the context of a subset/adjacent discussion that was taking place.

My advice still stands ... if someone is in their 40's and not contributing their max to their 401k, they are not preparing to retire and probably a fool.
UPS ain't your Daddy anymore like they told us in 2002.

You have been lucky in life.. financially, life throws curve balls, careful with your insults and arrogance, karma seems to always win

 

[Coldworld]

I bought my first house in 1979 for $56 k.
Lived there for 8 years and sold for $82k after I completely finished the basement by myself except HVAC.
(It was cheaper to pay someone to put in HVAC than I could get the parts.)

It would be interesting how much that house would go for today...

 

[Coldworld]

Nice first post! lol

Now everybody hates you on here!

 

[BakerMayfield2018]

You have been lucky in life.. financially, life throws curve balls, careful with your insults and arrogance, karma seems to always win

I told him that yesterday

 

[Noreaga]

Dragon, you still on here? Its been many months for me. But I am hearing from many sources that the BOD believes we have too many sales people and they have HR working on the #'s to see if something can be done. Anyone else hearing this? We have about 12,000 sales people and FDX does the same thing (sells their services), with a much smaller sales force. We have some old folks hanging around too and the reasons are many. But with the retirement fund not 100% funded anymore, and people living longer, it makes sense to help convince some of us old folks to sail off into the sunset and take our pension with us. I know we hear it annually, but I'm wondering if another area of the country (not the NE) is hearing anything?

Come guys let's be real and not forget about what's really going on.. someone has to pay for this Orion friend* up that the company invested.. and now they are taking it out on non union employees (management)

 

[BakerMayfield2018]

Come guys let's be real and not forget about what's really going on.. someone has to pay for this Orion friend* up that the company invested.. and now they are taking it out on non union employees (management)

Have you not seen how many planes they have bought in last 6 months??????

 

[Noreaga]

View attachment 142234 Have you not seen how many planes they have bought in last 6 months??????

They are trying to get rid of as many positions as possible starting with management and old timers we all know Orion was a write off all I am saying is don't let these guys fool you

 

[Brownslave688]

View attachment 142234 Have you not seen how many planes they have bought in last 6 months??????

Contract is up in 3,2,1

 

[BakerMayfield2018]

Contract is up in 3,2,1

They really think we can't see what there buying??????

 

[dudebro]

They are trying to get rid of as many positions as possible starting with management and old timers we all know Orion was a write off all I am saying is don't let these guys fool you

You saw through it. Foiled again! They spent a billion dollars on ORION to get an opportunity to write off 350M in taxes..it would have worked, too!

 

[oldbrownguy]

So I got "my Retirement Program packet" yesterday...The last paragraph on the "legal notice" page supports my earlier theory that there is still more to follow. It reads " UPS reserves the right to amend the UPS Retirement Plan in the future at any time and for any reasons permitted by law". "This includes accelerating the effective date of the amendment to a time before 12/31/2022, however you will be informed before that happens." As I stated earlier, I can't believe UPS would let a program run for another 5 years when it is losing billions of dollars annually.

 

[beentheredonethat]

So I got "my Retirement Program packet" yesterday...The last paragraph on the "legal notice" page supports my earlier theory that there is still more to follow. It reads " UPS reserves the right to amend the UPS Retirement Plan in the future at any time and for any reasons permitted by law". "This includes accelerating the effective date of the amendment to a time before 12/31/2022, however you will be informed before that happens." As I stated earlier, I can't believe UPS would let a program run for another 5 years when it is losing billions of dollars annually.

They will always allow themselves to change plans. It would be stupid if they didn't. I do agree, though that they will alter it again since it will be unsustainable. I highly doubt any more big changes will be announced within 5 years. But I do see that 16-18% 401K contribution to dwindle shortly after it is implemented.

 

[wide load]

Come guys let's be real and not forget about what's really going on.. someone has to pay for this Orion friend* up that the company invested.. and now they are taking it out on non union employees (management)

Yet nobody has the balls to say anything. Ever! EVER!

 

[dudebro]

 

[BakerMayfield2018]

Yet nobody has the balls to say anything. Ever! EVER!

Come on now. Orion technology does help a lot of new guys. It's not perfect by any means. But is does help a guy going out in the blind. I know damn well I wish I woulda had it back in the day to run a route blind. It woulda been a big stress reliever. Us guys that have seniority and our own bid routes , yea, no , it's a joke.

 

[1989]

Come on now. Orion technology does help a lot of new guys. It's not perfect by any means. But is does help a guy going out in the blind. I know damn well I wish I woulda had it back in the day to run a route blind. It woulda been a big stress reliever. Us guys that have seniority and our own bid routes , yea, no , it's a joke.

RDO is far superior than ODO.

 

[Catatonic]

RDO is far superior than ODO.

I like REO better.

 

[1989]

I like REO better.

ELO

 

[1989]

I like REO better.

I sometimes sing BTO while driving in circles.