Pension letter

[Number24]

Change your avatar bro

 

[brownmonster]

I am not naive enough to rely solely on a pension for retirement. Luckily my wife is a financial guru in many ways. That doesn't mean I will happily say "Oh this is the way the world works now", like everyone seems to be ok saying with our benefits slowly disappearing. This company is making RECORD profits. I want what is promised. It's part of our pay as far as I'm concerned. If it's not gonna be there, put it in my check and I will invest it.

The company gives plenty of money to the pension plans for a moderate pension. Funds promising more than they can afford is part of the problem.

 

[Brownslave688]

The pension system is dying. Feel bad for all the people who retired and counted on having a pension.

Just like SS it's a broken system.

 

[Brownslave688]

The company gives plenty of money to the pension plans for a moderate pension. Funds promising more than they can afford is part of the problem.

And the fact that they can't invest very aggressively.

 

[Brownslave688]

ok,, GAME OVER. factor ups out of the delivery market if suddenly the majority of FT's lose the pension...Sell that stock board members

I would be ecstatic if that money went to my 401k instead of a pension.

 

[PT Car Washer]

I would be ecstatic if that money went to my 401k instead of a pension.

You may be the exception but very few truck drivers are financially savvy. Most would just go and buy a bigger pick up truck.

 

[Brownslave688]

You may be the exception but very few truck drivers are financially savvy. Most would just go and buy a bigger pick up truck.

It could be negotiated so the money goes straight to our 401k. Not to our paychecks.

 

[El Correcto]

You may be the exception but very few truck drivers are financially savvy. Most would just go and buy a bigger pick up truck.

Yay, another good reason not to stop chain smoking everyday.
This is very true, big pick up trucks are important.

 

[PT Car Washer]

It could be negotiated so the money goes straight to our 401k. Not to our paychecks.

Some would just borrow against their 401(k).

 

[El Correcto]

Some would just borrow against their 401(k).

I haven't even set mine up yet thanks for reminding me

 

[PT Car Washer]

Yay, another good reason not to stop chain smoking everyday.
This is very true, big pick up trucks are important.

The most important thing for some people. Silverado High Country diesel 4X4. $65,000+.

 

[El Correcto]

The most important thing for some people. Silverado High Country diesel 4X4. $65,000+.

At least it's not a Ford.

 

[FrigidFTSup]

wow, let me explain, if you piss off the workforce, and even you will admit, drivers dictate the profits, there will be no future for ups

Contrary to popular belief the driver group doesn't dictate profits. The sales people don't dictate profits, I.E. doesn't dictate profits, etc. It's how the company operates as a whole which dictates profits. Being too heavy in one area or too lean in another can destroy profits.

 

[By The Book]

I would be ecstatic if that money went to my 401k instead of a pension.

In today's market, you better be careful. It could drop either way.

 

[FrigidFTSup]

In today's market, you better be careful. It could drop either way.

At least with the 401k you can control how aggressive the investment strategy will be. It takes more work, but I'd rather be in control of my own destiny.

 

[35years]

For years we have heard about drivers out east pulling down $7,000+ a month pensions. I don't know if it was upstate NY. If it is, then I don't feel sorry for the retirees if they will only pull $3,000 a month like most of the rest of the country. It is time to face reality. Those kind of payouts (along with early retirement ages) are a large part of the problem.

The guys still in Central States are looking at 50 to 70% cuts in pension pay that was already half what the guys out east were getting.

 

[By The Book]

The pension system is dying. Feel bad for all the people who retired and counted on having a pension.

The retirees are safer than the contributors. The fund managers will just lower the accrual rate and raise the age requirement. That way the ones retired already are not part of the equation. They did that out west to make it over 90% funded. They only lowered the accrual rate, basically promising a smaller pension to the future retirees.

 

[Brownslave688]

In today's market, you better be careful. It could drop either way.

Just means i would get to buy low.


But like @FrigidFTSup said at least I would control my money.

 

[Wally]

ENE Teamster Fund is min age 57 with 30 yrs pension credit .

Should be 62/35 to beef up the fund.

 

[Brownslave688]

Should be 62/35 to beef up the fund.

All that is is a bandaid.


What's crap is the drivers pulling pensions now were over promised. That's why we are in the situation we are in. But who is gonna take the hit? The guys still working.