Pension letter

[IVE GOTTA PACKAGE 4U]

not really.
for a married couple you get 12,600 standard deduction ( if no itemizing ) and 8000 for exemptions. you can also still contribute to an IRA . up to 13000. ( we still max IRA every year )

so your taxable income would be around 28000 ( or less )or 15000 depending on what you do. your tax would be either around 4 grand or 2250. ( lower tax bracket ). The last full year i worked i paid around 15000 dollars in taxes. ca and state.

California state taxes are not that bad. we paid about 700 last year. our home value went up over 25k in 2015 so that more than makes up for the cost of living in Cali. we bought for 150k and can easily get 450k after only 20 years.

i'm just going by our situation. it wasn't so bad for us and we live in a high priced resort area. we are actually in a much better situation tax wise as when i was working.

You need earned income in order to put money in an IRA.
Just ask @Orion's my new BFF

 

[Orion inc.]

You need earned income in order to put money in an IRA.
Just ask @Orion's my new BFF

Her stories are so full of I can't keep up Gumby.

 

[IVE GOTTA PACKAGE 4U]

Her stories are so full of I can't keep up Gumby.

I agree.

 

[Future]

According to the FNN, UPS is planning on buying out our pension. $3,500/month at 25 and out. From what I was told they really want to get rid of the older drivers so there may be additional incentives offered. I will be curious to see how this plays out.

When you say"additional incentives" ....what do you think that might involve?

 

[oldngray]

$3500 a month at 25 and out is still better than almost every other plan.

 

[Future]

$3500 a month at 25 and out is still better than almost every other plan.

30yrs and 55 here....but better money

 

[hellfire]

$3500 a month at 25 and out is still better than almost every other plan.

not realistic long term

 

[upschuck]

I would be surprised if anything like that happens before next contract negotiations, that would be a big chip for them to play without getting anything back.

Or maybe that is how they bought the "most ethical companies" award

 

[UpstateNYUPSer(Ret)]

When you say"additional incentives" ....what do you think that might involve?

Cash?

 

[UpstateNYUPSer(Ret)]

30yrs and 55 here....but better money

Same here but with our failing pension I would rather have the sure thing of the UPS Plan.

 

[UpstateNYUPSer(Ret)]

not realistic long term

This is the company plan that we are talking about.

 

[UpstateNYUPSer(Ret)]

I would be surprised if anything like that happens before next contract negotiations, that would be a big chip for them to play without getting anything back.

Or maybe that is how they bought the "most ethical companies" award

They bought their way out of the New England plan and it was not a contractual issue.

 

[upschuck]

They bought their way out of the New England plan and it was not a contractual issue.

They bought out of the NE plan in 2012, they buying out of the new one(NETTI)?

 

[UpstateNYUPSer(Ret)]

They bought out of the NE plan in 2012, they buying out of the new one(NETTI)?

No. My point was it was not nor did it become a contract issue.

I do see the company taking over our plan with a surge in pre-Peak retirements to follow.

 

[upschuck]

No. My point was it was not nor did it become a contract issue.

I do see the company taking over our plan with a surge in pre-Peak retirements to follow.

Pension plans are too a contract issue.

 

[Brownslave688]

You need earned income in order to put money in an IRA.
Just ask @Orion's my new BFF

There is so much bad information in that post in not sure where to start.

 

[UpstateNYUPSer(Ret)]

Pension plans are too a contract issue.

True but pension plan buyouts rarely become an issue during negotiations.

 

[Brownslave688]

$49,000 a year is poverty in California

Then move

 

[upschuck]

True but pension plan buyouts rarely become an issue during negotiations.

Not true, Central Region was a big issue in 2007, got mass mailings, and videos, to vote for it.

 

[Brownslave688]

True but pension plan buyouts rarely become an issue during negotiations.

Usually before so that profits look like they went down before negotiations.