Pension deductions?

[104Feeder]

If we were given pension money in an account just like our 401k I think everyone could amass a sum for retirement. You would have to take away the ultra safe investments like the stable value fund though so that people, in a panic, couldn't sell low and transfer the funds to a very low interest investment or only invest ultra safe their entire career.

I think it would be foolproof. Just like a pension though, returns could be less then envisioned if a person happens to work during a crappy 30yr period.

UPS wouldn't want to do this though because IMO the turnover rate for drivers would increase if the money was portable.

Here is the reality
The Retirement Crisis: Why 68% Of Americans Aren't Saving In An Employer-Sponsored Plan

 

[Ms.PacMan]

Here is the reality
The Retirement Crisis: Why 68% Of Americans Aren't Saving In An Employer-Sponsored Plan

They wouldn't have a choice. Money would be put into a 401k by the company.

 

[104Feeder]

Your playing with words my friend.

I take it as a contribution payed on HOURS I WORK. Thus since a portion is based on my work hours, I feel it should be mine! How are my cedit hours not my money?

Want in one hand, and wish in the other

 

[104Feeder]

Basically we are throwing 25 k a year in the garbage

I will extend the offer to you also.

 

[UpstateNYUPSer(Ret)]

They wouldn't have a choice. Money would be put into a 401k by the company.

To work there would need to be changes to the 401k rules. Loans and withdrawals would need to be severely restricted.

 

[104Feeder]

y

They wouldn't have a choice. Money would be put into a 401k by the company.

We are a long way from mandatory 401k participation, and it seems to me that doing so would be reinventing the wheel. We already have mandatory participation the pension funds.

 

[IVE GOTTA PACKAGE 4U]

I will extend the offer to you also.

No..I just want what I earned

 

[Ms.PacMan]

To work there would need to be changes to the 401k rules. Loans and withdrawals would need to be severely restricted.

Yes, loans and withdrawals would have to be abolished altogether. It would not be a 401k - there is actually a name for this type of "pension" plan but I can't think of it off the top of my head.

 

[UpstateNYUPSer(Ret)]

y


We are a long way from mandatory 401k participation, and it seems to me that doing so would be reinventing the wheel. We already have mandatory participation the pension funds.

You are confusing mandatory with "we don't have a choice".

 

[104Feeder]

I love how your opinion is fact and the rest of us are wrong.

Is this reality somehow foreign to you?

 

[UpstateNYUPSer(Ret)]

Yes, loans and withdrawals would have to be abolished altogether. It would not be a 401k - there is actually a name for this type of "pension" plan but I can't think of it off the top of my head.

Defined contribution.

 

[Ms.PacMan]

y


We are a long way from mandatory 401k participation, and it seems to me that doing so would be reinventing the wheel. We already have mandatory participation the pension funds.

I think we're talking around each other. I thought this had evolved into a discussion about alternatives to a pension plan that would leave us more protected.

 

[104Feeder]

No..I just want what I earned

Then I encourage you to weigh in when we force the yoke of your Pension upon you

 

[UpstateNYUPSer(Ret)]

Is this reality somehow foreign to you?

It is you who seems to be detached from reality.

 

[IVE GOTTA PACKAGE 4U]

Then I encourage you to weigh in when we force the yoke of your Pension upon you

I voted No. That's all I can do.

 

[UpstateNYUPSer(Ret)]

Then I encourage you to weigh in when we force the yoke of your Pension upon you

My yoke will be at least 20% lighter if our projected cuts become reality.

Current retirees will be losing 33% while orphans will lose half.

 

[104Feeder]

I think we're talking around each other. I thought this had evolved into a discussion about alternatives to a pension plan that would leave us more protected.

The pension, at UPS, is never going away as long as the Teamsters are representing us. To discuss what should be done as far as the retirement crisis as a whole in the Nation, I would first suggest the return to Unions & unionism & defined benefit pension programs. For industries that unions are not a good fit, or for workers in general, mandatory Roth 401k plans and participation would be my second choice.

 

[Brownslave688]

Here is the reality
The Retirement Crisis: Why 68% Of Americans Aren't Saving In An Employer-Sponsored Plan

And I have no remorse for them whatsoever

 

[Brownslave688]

Is this reality somehow foreign to you?

The reality where your opinion counts but not mine?


Yes I reject that reality.

 

[104Feeder]

And I have no remorse for them whatsoever

I get it, " you I got mine". You missed your calling, Bear Stearns lost a superstar.