More gloom and doom..CS is tanking
- Thread starter Catatonic
- Start date
Catatonic
Nine Lives
So if AZ had more locals, their pension would be more and their healthcare would be better!
How much better is Ohio's pension than AZ?
Lead Belly
BANNED
The argument isn't about pensions or local but more about how right to work sucks.
Catatonic
Nine Lives
Lead Belly
BANNED
I believe I was replying to a post by rod. Keep up with that. Oh yea the south lost the war.No!
Read the thread title.
It's about the CS pension.
Please try and keep up!
!!!!!!!!
rod
Retired 23 years
I believe I was replying to a post by rod. Keep up with that. Oh yea the south lost the war.
The north burned Atlanta once---maybe that wasn't enough
wkmac
Well-Known Member
Atlanta is burning itself as we speak.
Now back to the topic at hand. The current situation at CS is another reason I've continued to work (34 years in) instead of retire to see how things will play out. I don't trust UPS claim to "make up the difference" should the worst occur so we may now get the chance to see how good their word is.
My wife and I are working to scale back our lifestyle so that we can live on as little money as we can get it. Teamster covered UPSers should be thinking about living small instead of living large IMO. If the worst doesn't occur, nothing wrong with having a very fat bank account so to speak.
jmo
Now back to the topic at hand. The current situation at CS is another reason I've continued to work (34 years in) instead of retire to see how things will play out. I don't trust UPS claim to "make up the difference" should the worst occur so we may now get the chance to see how good their word is.
My wife and I are working to scale back our lifestyle so that we can live on as little money as we can get it. Teamster covered UPSers should be thinking about living small instead of living large IMO. If the worst doesn't occur, nothing wrong with having a very fat bank account so to speak.
jmo
Depends in what pension plan you are in with Ohio. The major problem for years with our pension underfunding is lack of new union members, there is simply not enough young members to support the benefits promised to the older ones. With UPS the money is there, just study our management's pension benefits, no cuts or changes in their plan as far as we know. The reason why is they been putting a ton of money into their investment portfolios. Most senior management do not wait much past age 55 to get out of dodge, sorry to say most of us union types are looking at the prospect of working till age 65 or over.
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Brownslave688
You want a toe? I can get you a toe.
wkmac
Well-Known Member
I agree but it would appear now this is not the case. I often hear that the CS troubles are a result of so many trucking companies going out of business in the 80's and at some point is true as a factor (not root cause) but that era is now 30 years ago and seems to me the number of orphan retirees from that era would be also purged out by now.
I would think the bigger effect these days would be the economic downturn in 2008' as it relates to assets and how that factors in. And yes I know the situation at Yellow doesn't help either. I was hoping that in 08' when we left CS, the lump sum payment would somehow be set aside for UPSers only in case the worst would occur but that appears to have been wishful thinking and I kinda knew that then as well.
Now here's the really hard question and it's one a lot of UPSers likely don't want to hear and this question is for the Fters who say have 20 plus years in. Would you give up a pay raise or 2 that makes sure UPS retirees (especially the pre-2008 retirees) aren't harmed by what could be about to happen at CS? Are we willing to do what it takes to take care of our own? Are we willing to lead this and set an example?
I would and wouldn't bat an eye about it either. If we are willing to pay a little now to restore retirement integrity (I hope I don't regret using that word LOL!) not only might we save it for our brother/sister UPSer retirees but for ourselves and put the future retirement for our younger union/UPS brothers/sisters who are early in their career. Unionism use to stand for fraternity and mutual aid/interest and it's way past time we turned back to those roots. You want the younger folk to join the union? Then show them something worth joining. And what would the message be to America about unions were we to make such a sacrifice? Even to Corp. America?
Think about it!
woodsplitter
New Member
woodsplitter
New Member
Tarp and Wall Street bailout from taxpayers year 2011 = 29,616,4 Billion dollars ! or 29 and a half trillion dollars. Why no crumbs for the Pensions ?
wkmac
Well-Known Member
Why don't we help ourselves and shame Wall Street as well as Washington at the same time? Even better if we fixed our own problem and could say to America, "unlike Wall Street, we didn't abuse the taxpayer and his/her trust."
Not to mention the bigger message we are sending to all working people.
Like Ford motors did?
wkmac
Well-Known Member
You could say that.
Z
ZQXC
Guest
The other problem is ,people don't want to take responsibility for themselves.
We have too many drivers that don't oit a penny into their 401k
Brownslave688
You want a toe? I can get you a toe.
Brownslave688
You want a toe? I can get you a toe.
Didn't mean to multi quote there.
I respect the thought but no way am I giving up my raises to patch a system that I see as broken.
wkmac
Well-Known Member
I did that and the amount now sits very close to giving me an income starting at 65 and going thru age 95 with a modest very investment return that would equal my pension if I work until I'm 65 which would give me 40 years service. I've told people and told people to have many different baskets and instead of driving a 20 year old car like I do, they're driving those shiny, high dollar late model rides with a big car payment to boot. I see no logic in buying a $50k truck to wear it out just going back and forth to work each week but it's their life.
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