Pension plan status

[1989]

Mgmt pension is funded @ 80.00%.
62.96% w/o adjusted interest rates.

 

[Wally]

[QUOTE="oldupsman, post: 3499079, ... the Teamster Pension Trust Fund of Philadelphia
and vicinity. Our current funded percentage is 72.2% which puts in the endangered
category. I was just curious on how this stands...[/QUOTE]

 

[88UPS1969]

Central States Southeast and Southwest Areas are at a Whopping 37.8% Funded!!!!!

 

[Wally]

Central States Southeast and Southwest Areas are at a Whopping 37.8% Funded!!!!!

 

[Old Man Jingles]

Mgmt pension is funded @ 80.00%.
62.96% w/o adjusted interest rates.

That conflicts with the letter I received on Friday.
What is your source?

 

[Wally]

That conflicts with the letter I received on Friday.
What is your source?

@silverbullet2893 ? Or maybe @burrheadd?

 

[Old Man Jingles]

I do not understand why they would raise the accrual rate and give more money out when the fund is at 84.3%.

Politicians?

 

[Yaba Daba Do]

autonomy is only increasing so as time goes on and less and less people are paying in there is a 0% chance of the fund remaining solvent.

 

[silverbullet2893]

@silverbullet2893 ? Or maybe @burrheadd?

Yes

 

[burrheadd]

Yes

I concur

 

[1989]

That conflicts with the letter I received on Friday.
What is your source?

Annual funding notice.

Maybe I’ve been bumped into a crappier plan.

Went from 90.51% in 2015 to 80% in 2017.

 

[Old Man Jingles]

Annual funding notice.

Maybe I’ve been bumped into a crappier plan.

Went from 90.51% in 2015 to 80% in 2017.

!!! My apologies.
I was remembering from left to right ... I thought it was getting better.
Looked at it closer now that I am home.

I'm assuming this is due to new management not in our plan and therefore no funding over the last two years?
Also, interest rates are at historical lows which means UPS does not have to contribute as much each year. It also means our ''net buying power" of our monthly pension is remaining steady instead of going down.

At least we are not in a multi-employer plan ... not that I particularly expect UPS to really care about us.

 

[1989]

!!! My apologies.
I was remembering from left to right ... I thought it was getting better.
Looked at it closer now that I am home.

I'm assuming this is due to new management not in our plan and therefore no funding over the last two years?
Also, interest rates are at historical lows which means UPS does not have to contribute as much each year. It also means our ''net buying power" of our monthly pension is remaining steady instead of going down.

At least we are not in a multi-employer plan ... not that I particularly expect UPS to really care about us.

Most of mine is in a multi-employer plan. I have very little in this plan.

 

[Brownslave688]

Local 344 is at 84.3%. Trustees must not be concerned as they are increasing our accrual rates.

I believe ours is a little higher than this but we also recently increased it. I wasn't real happy about that. I'd rather have a nice little cushion for when 2006-2008 happens again.

 

[Brownslave688]

Annual funding notice.

Maybe I’ve been bumped into a crappier plan.

Went from 90.51% in 2015 to 80% in 2017.

How in the hell does a plan go down 10% when the market was up like 40% over that time frame?!?!?!?!

 

[1989]

How in the hell does a plan go down 10% when the market was up like 40% over that time frame?!?!?!?!

Pension math????

Maybe baby boomers retiring, and no contributions added.

 

[IVE GOTTA PACKAGE 4U]

Pension math????

Maybe baby boomers retiring, and no contributions added.

And less full time jobs.

 

[1989]

And less full time jobs.

It’s a ups fund. Not multi-employer.

 

[IVE GOTTA PACKAGE 4U]

It’s a ups fund. Not multi-employer.

Still less people putting money into it.

 

[BakerMayfield2018]

Still less people putting money into it.