Pension funded roll call? What is your pension funded percentage % 2022/2023

[DELACROIX]

I don't think that this is how it works.

100% funding means that their assets are equal to their liabilities----it does not mean that no additional contributions are needed nor that it can continue to grow based simply on the returns from their investments.

It goes year to year depending on how the fund’s investments and returns are doing.

The Western’s pension fund is currently at 98% in another 5 years their pension payout on a standard 30 year pension will grow way beyond that 300 dollar a service year formula that I quoted earlier.

If they would freeze all the assets in a plan that has a 100 percent ratio, it can technically pay for every participant’s retirement benefits promised. Not an expert on this but I believe that the plan could cover future retirement benefits on its investment returns. Most good ones get an annual eight to twelve percent return, on an exceptional year close to twenty.

 

[IVE GOTTA PACKAGE 4U]

When a pension plan reaches % vesting ratio they have the assets in their fund to cover their present and future pension obligations. They don’t even have to contribute a dime at the end of the year, it continues to grow just on it’s investments.

This is why UPS wants control over every one of the Teamsters’ run pensions. Also this is why the Western will be paying out close to 300 dollars per service year. If the Company somehow got control of the Western and converted it into a define pension trust it would not have to be obligated to pay that negotiated 500 dollars a week for every member. Look what has happened in their IBT/UPS (2021, 2022) and The UPS Pension Plan (2017) when they didn’t contribute at the end of the year.

The West is sitting pretty now and it’s continuing growth is a given. The rest of the country not do much the same.

They never want it to be a 100% because the company can quit contributing to the plan.

That's why some of the plans that are funded very well will make a 13th payment.


Unfortunately it is a BS rule they should be allowed to be overfunded in case of another economic downturn

 

[DELACROIX]

They never want it to be a 100% because the company can quit contributing to the plan.

That's why some of the plans that are funded very well will make a 13th payment.


Unfortunately it is a BS rule they should be allowed to be overfunded in case of another economic downturn

I can still remember years ago UPS Contributed 5 Billion dollars into their controlled pension trusts at the end of the year even if they didn't have to, just guessing most of it went to their management's plan. Maybe it is just smart economics, expecting a great return or covering their pension ratio if the markets went south.

Not to create any more paranoid out there..What if they decided to freeze our pension assets and create a 401K match similar to what they just did to their management. I guess legally they can, haven't got any inkling of a Class Action Suit from any of the disgruntled management folks ...yet!

That 13th payment .... Political in nature..

 

[IVE GOTTA PACKAGE 4U]

I can still remember years ago UPS Contributed 5 Billion dollars into their controlled pension trusts at the end of the year even if they didn't have to, just guessing most of it went to their management's plan. Maybe it is just smart economics, expecting a great return or covering their pension ratio if the markets went south.

Not to create any more paranoid out there..What if they decided to freeze our pension assets and create a 401K match similar to what they just did to their management. I guess legally they can, haven't got any inkling of a Class Action Suit from any of the disgruntled management folks ...yet!

That 13th payment .... Political in nature..

That's going to be a big issue this upcoming contract

 

[over9five]

I just looked quickly. Ours (New England) is always in critical status. I could not find the exact funded percentage.
But I think Critical means under 65%.

 

[IVE GOTTA PACKAGE 4U]

I just looked quickly. Ours (New England) is always in critical status. I could not find the exact funded percentage.
But I think Critical means under 65%.

I thought they applied for government assistance

 

[UnionStrong]

I thought they applied for government assistance

It’s been submitted. Feb 11.

 

[UnionStrong]

I just looked quickly. Ours (New England) is always in critical status. I could not find the exact funded percentage.
But I think Critical means under 65%.

Im thinking it’s less than that. They won’t tell us the truth.

 

[over9five]

Im thinking it’s less than that. They won’t tell us the truth.

Exactly. If it's on that website, I couldn't find it.

 

[oldngray]

Im thinking it’s less than that. They won’t tell us the truth.

You can't handle the truth

 

[UnionStrong]

You can't handle the truth

Probably not.

 

[bottomups]

My son had made payments on his loans during the pandemic and applied for and was approved to receive a refund of those payments. He had made 29 payments of $100 and rather than send him one check for $2,900 they sent him 29 checks for $100 each. His new loan balance is still under the $10K so if the program is finally approved he will be in the clear.

The forgiveness program needs to have lower income limits so as to serve those for whom it was originally intended.

Agreed on the income limits. My son is way over the threshold as of now. The only reason he qualified is that he only had 6 months of employment for the first year.

 

[UpstateNYUPSer(Ret)]

I just looked quickly. Ours (New England) is always in critical status. I could not find the exact funded percentage.
But I think Critical means under 65%.

65% is the threshold---funds below that mark are considered to be in critical and declining status.

 

[rod]

My son and DIL are waiting for the final decision on the student loan forgiveness program.

My son had made payments on his loans during the pandemic and applied for and was approved to receive a refund of those payments. He had made 29 payments of $100 and rather than send him one check for $2,900 they sent him 29 checks for $100 each. His new loan balance is still under the $10K so if the program is finally approved he will be in the clear.

The forgiveness program needs to have lower income limits so as to serve those for whom it was originally intended.

I remember you posting a few years ago that you were going to pay off your kids student loans. I see you lied about that also.

 

[UpstateNYUPSer(Ret)]

I remember you posting a few years ago that you were going to pay off your kids student loans. I see you lied about that also.

Not that it's any of your business but I did pay off the bulk of their student loans.

 

[rod]

Not that it's any of your business but I did pay off the bulk of their student loans.

It's is my business. It's my business to hound you for being the POS hypocrite you are.

 

[UpstateNYUPSer(Ret)]

It's is my business. It's my business to hound you for being the POS hypocrite you are.

It's is?

 

[Over70irregs]

It goes year to year depending on how the fund’s investments and returns are doing.

The Western’s pension fund is currently at 98% in another 5 years their pension payout on a standard 30 year pension will grow way beyond that 300 dollar a service year formula that I quoted earlier.

If they would freeze all the assets in a plan that has a 100 percent ratio, it can technically pay for every participant’s retirement benefits promised. Not an expert on this but I believe that the plan could cover future retirement benefits on its investment returns. Most good ones get an annual eight to twelve percent return, on an exceptional year close to twenty.

Maybe let them manage my 401k?…..

 

[rod]

It's is?

It's is?

 

[DELACROIX]

That's going to be a big issue this upcoming contract

Definitely for us ... this will be our last contract ...or next to the last contract depending on how it goes......