More gloom and doom..CS is tanking

[wkmac]

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.

There's the rub and I doubt you are by no means alone. Likely a majority. It was just a question of who would be the one to say it.

Thus we will get what we get or rather what we deserve!

Stop complaining and take it like a man.

 

[IVE GOTTA PACKAGE 4U]

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.

I know drivers that lived in their house for 30 years. And still owe a 30 year mortgage.

 

[hellfire]

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.

delivering packages till age 65...no way..

 

[woodsplitter]

All those Billions of dollars lost in the stock market in 2008 did just not disappear, somebody got them. If investments were held and not sold in a panic they rebounded nicely .

 

[wkmac]

I know drivers that lived in their house for 30 years. And still owe a 30 year mortgage.

As do I. And some want to play Solomon and father a new race. Amazing how many 60 year olds say they can't retire with having another new wife and a couple of toddlers under foot.

 

[IVE GOTTA PACKAGE 4U]

As do I. And some want to play Solomon and father a new race. Amazing how many 60 year olds say they can't retire with having another new wife and a couple of toddlers under foot.

That's not going to be me. Pension cits or not.

 

[wkmac]

All those Billions of dollars lost in the stock market in 2008 did just not disappear, somebody got them. If investments were held and not sold in a panic they rebounded nicely .

Yes but how much of those assets were sold and used to fund current retirement obligations? My 401k took a hit as did others but then rebounded as well. However, I wasn't using any funds either.

 

[wkmac]

That's not going to be me. Pension cits or not.

Preach It Brother!

 

[IVE GOTTA PACKAGE 4U]

Preach It Brother!

I grab all the new kids and make them sign up for the 401k.

 

[Brownslave688]

All those Billions of dollars lost in the stock market in 2008 did just not disappear, somebody got them. If investments were held and not sold in a panic they rebounded nicely .

Not really because the problem with a pension is they have to keep taking out money to pay members even when the market is down.


An individual can choose to take out less or try and find extra work to supplement. Pension payments come out every month weather the market is way up or way down.

 

[wkmac]

delivering packages till age 65...no way..

Beauty of my job. I don't drive, I don't touch a vehicle and I don't touch any cardboard.

 

[UpstateNYUPSer(Ret)]

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 ?

Why should the government bailout a private pension fund?

 

[UpstateNYUPSer(Ret)]

I grab all the new kids and make them sign up for the 401k.

I am pretty sure that new hires are automatically enrolled at a 3% contribution rate and they have to opt out if they do not wish to participate.

 

[hellfire]

Beauty of my job. I don't drive, I don't touch a vehicle and I don't touch any cardboard.

May i ask???

 

[wkmac]

May i ask???

Depending on if you intend to tell the wife or not!

Plant Engineering mechanic.

 

[IVE GOTTA PACKAGE 4U]

I am pretty sure that new hires are automatically enrolled at a 3% contribution rate and they have to opt out if they do not wish to participate.

None of them here . That's why I ask them.

 

[Catatonic]

Beauty of my job. I don't drive, I don't touch a vehicle and I don't touch any cardboard.

He's like management ... he just tightens up a few nuts each day!!!

 

[oldngray]

any loose screws?

 

[wkmac]

He's like management ... he just tightens up a few nuts each day!!!

LOL! Some assert I just stand around and scratch mine!

I've always told people that if the sort is running and I'm doing nothing, I've really done my job. As one District Manager once told me, you are my insurance policy that I never want to have to use.

I once told a Corp. PE manager who made the mistake of asking me what my job purpose was, "my job is to totally eliminate the need for myself!"

Stupid "friend", went right over his head but my operators totally get it and that's where it counts anyway.

 

[rod]

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!

That's a very nice thought on your part wkmac (willing to donate a raise or part of one) to help bail out CS pension problems) but it will never happen. Check out Brownslaves comment #299 and that sums up the majority of UPS employees now days. UPS is full of Brownslave types now and therein lies the whole problem---every man for himself. All my working career I made it know that if UPS was truly hurting and could prove it I would be more than willing to take a pay cut to bail out my livelihood. In a way its sad that the old time employees were all willing to do what was necessary to protect their livelihood but now for the most part the Brownslaves of the world wouldn't even help out a fellow Teamster. JMO