upschuck
Well-Known Member
So true, if you work there, that is one thing, but after retirement, you can move anywhere.
Pension letter
- Thread starter retired2000
- Start date
Brownslave688
You want a toe? I can get you a toe.
There's a reason certain places are full of retired people.
realbrown1
Annoy a liberal today. Hit them with facts.
I would have wished to have a matching 401k plan with an 8% match.
I would be a multi-millionaire by now, and my 401k would never fall to critical or failing status.
And think of all those pension fund leeches like the CSPF has that make anywhere from $60k a year to $350k a year siphoning off pension assets, giving themselves raises while riding the pension fund into insolvency.
Ms.PacMan
Well-Known Member
Pension plan buyouts tend to soothe the savage beast as it were, during contract ratifications. I remember being on pins and needles hoping the 2007 contract would be ratified so that UPS could buyout CS. It was a less than stellar contract because of all the money UPS was going to pay the CSPF and I was (and still am) grateful to all the members and UPS.
You won't soon forget everything that happens from here out. Just know and accept that you may be working until Jan. 1, 2019.
Brownslave688
You want a toe? I can get you a toe.
The economy was in the
ter in 2007. I never had a shred of doubt that that contract would pass
Ms.PacMan
Well-Known Member
The economy was at an all time high in Nov. of 2007. It was the next year that the sh1t hit the fan.The economy was in the
Brownslave688
You want a toe? I can get you a toe.
I thought stuff was starting to go down hill but I only had a couple years in at that point. I was in the honeymoon stage and had just hit full time. Of course I was voting yes. Lol
Orion inc.
I like turtles
It might push back your retirement date so you can load the 401k up more for a few years
Orion inc.
I like turtles
I wish this was an option too
And add money to social security. They use your best 35 years of earnings
rod
Retired 23 years
In 2007 every Tom, Dick and Harry was preaching that the economy was about to go tits up but nobody believed it. (kind of like today)
Just a bit longer than that!
olroadbeech
Happy Verified UPSer
isn't a company pension plan like having "all eggs in one basket ?" this was our biggest fear ( one Of ) in 97 before the strike when the company wanted to take over our pension plans.
a mutual fund with 50 stocks is a lot safer than owning just one stock.
a mutual fund with 50 stocks is a lot safer than owning just one stock.
Brownslave688
You want a toe? I can get you a toe.
I'd rather see a defined contribution than a match but either way would be better.
Brownslave688
You want a toe? I can get you a toe.
Orion inc.
I like turtles
dookie stain
Cornfed whiteboy
That's why I was asking about transfers earlier....thanks for the advice dad
Ms.PacMan
Well-Known Member
Worst decision ever - we had a driver who was jizzed by the stock market booming and spooked by the new pension plan and retired in 2007. He said he trusted the Teamsters more than UPS and things were turning around!
One of the supervisors at the USPS put all his 401k money into cash in Nov.2007 (this is why I remember that month so well). He said he had an overwhelming 'it's too good to be true feeling' and because he was 2 yrs from retirement he didn't want to risk a loss. He also quit contributing. He's still happy with that decision and he's still working because he wants to. He had about 30k more than I did saved at the time - I have 4 times the amount I did then. That was a huge lesson for me.
UpstateNYUPSer(Ret)
Well-Known Member
7/1/18 will be my last day.
You should think about retiring on 6/30. That way you would get your first pension check on 7/1
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