Retirement...contract talks

[Mugarolla]

Or cut in half

Or go bankrupt, thus bankrupting the PBGC, possibly reducing the pension to $0.

 

[IVE GOTTA PACKAGE 4U]

Or go bankrupt, thus bankrupting the PBGC, possibly reducing the pension to $0.

Scary times.

 

[twoweeled]

Or go bankrupt, thus bankrupting the PBGC, possibly reducing the pension to $0.

We've heard so much about protections against this. But more and more, it's seems there are really very few, if any "real" protections against a type of bankruptcy actually happening. What few protections exist, seem to be under a quiet attack or circumvention.

 

[Brownslave688]

True. I'm just saying we have to make sure we're improving, and not going backwards. Our pensions are not as good as we're lead to believe, to begin with. COLA should have been a no brainer, just to mention one improvement needed.

You can't put a cola pension raise into a contract because it's dependent on the funding level.

 

[twoweeled]

You can't put a cola pension raise into a contract because it's dependent on the funding level.

Legally, or assuming?

 

[Brownslave688]

Legally, or assuming?

Legally

 

[Brownslave688]

You can't raise the pension payout unless it's funded over 90% or something like that.

 

[twoweeled]

Legally

I would think it's a matter of the correlation between pension contributions from the company and the sum of funding? Calling for higher contributions to meet the additional funding level, to meet the COLA? Or am I wrong,,,,,,,again.

 

[twoweeled]

You can't raise the pension payout unless it's funded over 90% or something like that.

Okay.

 

[UpstateNYUPSer(Ret)]

True. I'm just saying we have to make sure we're improving, and not going backwards. Our pensions are not as good as we're lead to believe, to begin with. COLA should have been a no brainer, just to mention one improvement needed.

COLA is based on data from the government. (CPI)

 

[sox]

Putting money into the IPO was illegal. That's why you could not buy shares after they announced the IPO.

You r mistaken sir when the thrift plan was abolished we were given the option to take our money several different ways one was company stock one was cash and I really can't remember the other ones I can remember old timers telling me I was crazy at the time for siding with the enemy. Guess who's laughing now!

 

[1989]

You r mistaken sir when the thrift plan was abolished we were given the option to take our money several different ways one was company stock one was cash and I really can't remember the other ones I can remember old timers telling me I was crazy at the time for siding with the enemy. Guess who's laughing now!

I was referring to "buying into the IPO". Not buying stock before the IPO. There a ton of stocks that have done better than UPS.

 

[UpstateNYUPSer(Ret)]

You r mistaken sir when the thrift plan was abolished we were given the option to take our money several different ways one was company stock one was cash and I really can't remember the other ones I can remember old timers telling me I was crazy at the time for siding with the enemy. Guess who's laughing now!

The third option was rolling it over to a qualified retirement plan, such as a 401k.

 

[UpstateNYUPSer(Ret)]

I was referring to "buying into the IPO". Not buying stock before the IPO. There a ton of stocks that have done better than UPS.

How many IPO'd at $20 and quadrupled in value within a week?

 

[1989]

How many IPO'd at $20 and quadrupled in value within a week?

Again, you could not buys shares once the IPO was announced. Or sell 6 months after the IPO. After a 2:1 split it IPOd at $50.

 

[twoweeled]

COLA is based on data from the government. (CPI)

True, but I feel having a COLA in retirement should exist. The COLA for active was a joke to me. Our so called raises, were barely keeping up with inflation, let alone that $.10 we would occasionally get as a COLA adjustment.
I also see that NEVER happening.

 

[UpstateNYUPSer(Ret)]

True, but I feel having a COLA in retirement should exist. The COLA for active was a joke to me. Our so called raises, were barely keeping up with inflation, let alone that $.10 we would occasionally get as a COLA adjustment.
I also see that NEVER happening.

COLA is a joke.

You will never see it with our pension.

 

[twoweeled]

COLA is a joke.

You will never see it with our pension.

I know your right, , , ,

 

[Brownslave688]

True, but I feel having a COLA in retirement should exist. The COLA for active was a joke to me. Our so called raises, were barely keeping up with inflation, let alone that $.10 we would occasionally get as a COLA adjustment.
I also see that NEVER happening.

My business agent practically called me and another guy spoiled brats for pointing out that some of our raises didn't even cover inflation.

 

[Mugarolla]

My business agent practically called me and another guy spoiled brats for pointing out that some of our raises didn't even cover inflation.

It wasn't Bug, was it?