UpstateNYUPSer(Ret)
Well-Known Member
I am also not in favor of a bail out.
UPS is 76% of our Fund. They are looking to protect their interests, not ours.
UPS is 76% of our Fund. They are looking to protect their interests, not ours.
Nys teamsters pension & retirement fund
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Ms.PacMan
Well-Known Member
rod
Retired 23 years
All the billions and billions of dollars they give to 3rd world countries who hate us is not expected to be paid back why the hell would the Teamsters be expected to pay it back
Bubblehead
My Senior Picture
Yep, it's kind of "funny" how banks and auto makers can be deemed "to big to fail", yet millions of hard working blue collar workers can be left out in the cold in the face of government regulated mismanagement of their pension funds.
What an absolute shame it will be for these people to have proudly worked a job until retirement age, only to slip through this cracks and be subject to the entitlement system in their golden years.
People can say what they want about these people not saving enough while they were working, but the reality is they were saving.
Our pension is an earned benefit and a form of savings....
.....and it has been stolen from us.
What's happening here is criminal, parallel to what Bernie Madoff and his ponzi scheme did, landing him in jail.
UpstateNYUPSer(Ret)
Well-Known Member
That being said, I for one do not support government bailouts of private pension funds.
Well now knowing that, I can sleep well tonight.
UpstateNYUPSer(Ret)
Well-Known Member
Suppose it were GM or Boeing or Carrier—would you be so ambivalent?
Bubblehead
My Senior Picture
UpstateNYUPSer(Ret)
Well-Known Member
My plan has been set for the past 10-15 years. I will use my monthly pension to live on and will draw from my rolled over 401k for travel and other discretionary spending. I will start drawing SS at 67.
He wasn't asking for your personal solution Einstein...
Bubblehead
My Senior Picture
Very telling, but my question was meant as a plan for all Teamsters like you, who are facing sweeping cuts in their pensions, not your individual plan alone.
trickpony1
Well-Known Member
Not that I care but you may want to call SS and ask if you can wait an extended length of time, after retiring, to draw SS.
UpstateNYUPSer(Ret)
Well-Known Member
Already taken care of.
As a former management employee, this entire thread make me sad. This pension plan was one of the strongest in the country in 1997, after the changes to pensions across the country, after the contract strike/resolution. Upstate NY teamsters got a pension increase after that contract, and apparently it continued in the years following.
It's very sad because the pension was in very poor shape in 1980, when the government started regulating the pension. During the next 20 years, it became very strong, insuring the future pension of UPS people. UPS teamsters are the hardest working people in the transportation business. They deserve a good pension. Now, years later, we're back to the problems of 1980. What happened in the last 17 years?
It's very sad because the pension was in very poor shape in 1980, when the government started regulating the pension. During the next 20 years, it became very strong, insuring the future pension of UPS people. UPS teamsters are the hardest working people in the transportation business. They deserve a good pension. Now, years later, we're back to the problems of 1980. What happened in the last 17 years?
BrownFlush
Woke Racist Reigning Ban King
He doesn't have one .
BrownFlush
Woke Racist Reigning Ban King
Junior is nothing like his Dad. That's whats happened .
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UpstateNYUPSer(Ret)
Well-Known Member
Don't really care for anyone but myself.
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