At the rate the pension system is going, drivers starting today won't have a pension by the time they retire either. Pension system is dying. This is the only company in America where hourlies don't see that,
Yeah, how dare someone have to plan for their own retirement! Not to mention at least I know my 401K will be there when I retire. All the time I hear drivers in my center worried because they don't know if their pension will be there.
Nobody makes all their numbers. But it isn't impossible to make a great deal of them. You just have to surround yourself with a PT management team who has the same initiative you do.
Honest question. How much do you guys think we pay for insurance? Because the number one attempted insult I get on here is "How much do you pay for your healthcare?" You guys make it out to be like we are buying a car every year or something.
I don't think the ups/ibt pension system will die. Mine is funded at 103%. I'm not depending on my pension when I retire but it sure will be nice to get it after 35 plus years. Imagine putting in close to that in management and receiving nothing. Sorry but I'd rather receive that benefit for the time in.
If someone isn't taking advantage of a 401k in this day then they're stupid. But I wouldn't rely on it completely to fund retirement. If you think a match is going to fund retirement , well you're putting all your eggs in one basket. It should be just one part of a strategy. But the point is, if you're no longer receiving a pension, you'll have to take that increase in salary and put it aside to make up for that. I mean if someone was smart.
Top that with paying a few hundred or so for your health care to cover you and your dependents and you're not banking ahead in terms of the whole picture. That was my point. I highly doubt he was promoted as an ORS with a salary of 120,000 /year. Because if a driver can average 100,000/year, with no out of cost for health care or pension, then that's what they would have had to offer him to be ahead or break even with what he was compensated before.
He actually probably took a pay/benefits cut when you factor in his increased costs now for that. That was my point. I'll agree with you that every individual should plan for their retirement as if you're receiving nothing. That wasn't my point.