retirement

[NC man]

I found it. Home page, TOOLS and RESOURCES then click KEY DATES. It is under the chart on that page. Glad you were able to see for yourself what I had been posting. From my understanding, this is nothing new. People that retired years ago told me they had this same option but it just isn't very clear from retirement. My retirement advisor pointed out to me and I was surprised I had never been told that before. Delaying commencing your pension is not for everyone but I am planning on waiting a few years and see how it goes.

One thing about your totals I found odd, the DIFFERENCE between your Straight Life Annuity pension and your 100% Joint & Survivor pension was larger than mine even though my amounts were larger. Seems strange.

Not sure either, may have something to do with Flying Tigers pension.

 

[Fred's Myth]

As though they said, "Hey, let's lure in some new people with this and then change it!!!!" They are obligated to make decisions that they think are best for the company. It's no different than hiring a guy on a route that normally gets 46 hours a week and and at some point changing it to a 4X10 or vice versa. No different than offering a M-friend route and eventually changing it to Wednesday off and adding Saturday as a work day.

They didn't tell me "Here's a bunch of promises and none of them will ever change" when they hired me.

UPS does it the right way, by not offering newhires the same benefits as veteran drivers. Then the system you abhor fades away.

Your corporate attitude (no contract-tough ) that everything is at the mercy of what Memphis deems favorable to the company is what is cultivating the degradation of attitude apparent in the workforce. It's what you now deserve.

 

[NC man]

What’s odd about all this is people at ph nbr for retirement don’t tell u this and not in retire packet. Figure almost everyone would not delay anyway ,we need it to avoid drawing down 401k more until SS kicks in if you delay that or even if you don’t and take ss and pen at 62 you need less from retirement accounts

 

[floridays]

If you understood how a pension works you would see your example is flawed. There is no set amount the pension stops at. It ends at death. The longer you live, the more you get. Get a 5th grader to explain it to you.

You may have bitten off more than you can chew when you start and if you continue to talk down to @Fred's Myth. That is my personal observation.

I have one simple question for you Cletis,

On what day will you expire?
I'm asking, When will your body will cease to support life?, to be clearer for you, give me the exact date your body will become worm food.

All options considered, you may not taste one day of retirement.

Another personal observation,

You shouldn't have squandered the scratch off bonanza, it left you quibbling and trying to maximize an increased payout to satisfy urges the bonanza presumably fulfilled.

My personal observation and opinion.

Think about it,
A mind is a terrible thing.

 

[falcon back]

And the longer you wait, the closer you are to your death. You go ahead and gamble with the money and your life expectancy. Meanwhile, I'm already living large on my pension. Hope there's still some pension money left when you decide the time is right.

So you retired at 55, the earliest you could retire and started your SS at 62, the earliest you could draw it? I guess you did if you wonder why a person should wait to draw both while you fear dying too soon. Living large on your pension? If you got $25k or maybe $26k with your Traditional, you are lucky. Maybe a tad more if you were in NY or Calf. when you worked. If that is your idea of living large, you must spend your time at the library and the senior citizen center.

 

[floridays]

As though they said, "Hey, let's lure in some new people with this and then change it!!!!" They are obligated to make decisions that they think are best for the company. It's no different than hiring a guy on a route that normally gets 46 hours a week and and at some point changing it to a 4X10 or vice versa. No different than offering a M-friend route and eventually changing it to Wednesday off and adding Saturday as a work day.

They didn't tell me "Here's a bunch of promises and none of them will ever change" when they hired me.

They were inducements to contract.
If you are intelligent enough, you know I am not speaking of a legally binding contract.
I feel the need for the disclaimer because you have shown you cannot/will not respond to the intent or direct point being made.

To be clear:

Inducements were made to attract qualified, stable applicants for employment, the defined pension was one of the inducements.

In 2005 a choice was given to the "induced" to remain in a plan that may have been the tipping point on which a person may have decided to accept employment.

Are you following me?

In 2007, everyone that chose to stay in the plan that may have "induced" them to employ had it stripped away.

Are you still following me?

Anyone employed after 2003 was not offered the opportunity to participate in the defined plan, their pension "inducement," which may have been their tipping point to accept employment may have been the PPA.

Integrity, (a word @Fred's Myth offered), would dictate when an inducement is made, and a further affirmation to stay within the confines of the freely offered inducement is stripped, integrity is lost, trust is broken.

Which party lost integrity, which party is not trusted?

 

[falcon back]

What’s odd about all this is people at ph nbr for retirement don’t tell u this and not in retire packet. Figure almost everyone would not delay anyway ,we need it to avoid drawing down 401k more until SS kicks in if you delay that or even if you don’t and take ss and pen at 62 you need less from retirement accounts

There is no right answer for everyone. I am gonna draw down my 401k and wait on Pension and SS. Take them later and just about stop the 401k withdrawal. Everyone has an opinion on how to do it.

 

[falcon back]

All options considered, you may not taste one day of retirement.
A mind is a terrible thing.

So you retired at 55? You didn't want to wait too long, you may not taste it. How is that working out?

 

[falcon back]

Not sure either, may have something to do with Flying Tigers pension.

You are probably right. The difference in my options was about $130 and yours was close to $160. My amounts were several hundred $ more though.

 

[Fred's Myth]

You may have bitten off more than you can chew when you start and if you continue to talk down to @Fred's Myth. That is my personal observation.

I have one simple question for you Cletis,

On what day will you expire?
I'm asking, When will your body will cease to support life?, to be clearer for you, give me the exact date your body will become worm food.

All options considered, you may not taste one day of retirement.

Another personal observation,

You shouldn't have squandered the scratch off bonanza, it left you quibbling and trying to maximize an increased payout to satisfy urges the bonanza presumably fulfilled.

My personal observation and opinion.

Think about it,
A mind is a terrible thing.

 

[floridays]

UPS does it the right way, by not offering newhires the same benefits as veteran drivers. Then the system you abhor fades away.

Fred, under a contract that is correct.

Under the former Federal Express and then Fedex newhires after 2002 were not extended the same pension benefit, Fedex felt the need to reach back and draw all previous employees to the new deal.

A lock keeps honest people out, a contract binds contracting parties.

I have the opinion Fedex will renig on the portable as well.

Meet the new Boss, same as the old Boss................they will get screwed again.

 

[floridays]

So you retired at 55? You didn't want to wait too long, you may not taste it. How is that working out?

Fedex wasn't my first rodeo, who said I was retired?

Answer the damn questions I asked in the post.

Don't worry about me, I wasn't waiting on a scratch off.

 

[falcon back]

Fedex wasn't my first rodeo, who said I was retired?

Answer the damn questions I asked in the post.

Don't worry about me, I wasn't waiting on a scratch off.

Your advice was retire when you can to make sure you get a taste. Did you not take your own advice?

 

[59 Dano]

UPS does it the right way, by not offering newhires the same benefits as veteran drivers. Then the system you abhor fades away.

LOL! I don't abhor the system. In fact, I like it much better than the alternative and I wish it worked.

Your corporate attitude (no contract-tough ) that everything is at the mercy of what Memphis deems favorable to the company is what is cultivating the degradation of attitude apparent in the workforce. It's what you now deserve.

My attitude is that a stronger company in the long term is preferable to a generous company in the short term.

 

[59 Dano]

They were inducements to contract.
If you are intelligent enough, you know I am not speaking of a legally binding contract.
I feel the need for the disclaimer because you have shown you cannot/will not respond to the intent or direct point being made.

To be clear:

Inducements were made to attract qualified, stable applicants for employment, the defined pension was one of the inducements.

In 2005 a choice was given to the "induced" to remain in a plan that may have been the tipping point on which a person may have decided to accept employment.

Are you following me?

In 2007, everyone that chose to stay in the plan that may have "induced" them to employ had it stripped away.

Are you still following me?

Anyone employed after 2003 was not offered the opportunity to participate in the defined plan, their pension "inducement," which may have been their tipping point to accept employment may have been the PPA.

Integrity, (a word @Fred's Myth offered), would dictate when an inducement is made, and a further affirmation to stay within the confines of the freely offered inducement is stripped, integrity is lost, trust is broken.

Which party lost integrity, which party is not trusted?

Oh look, Gomer thinks a company should never change a policy because someone probably took a job thinking that all policies were written in stone and would last forever!

 

[floridays]

View attachment 306013

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I never learned that lesson, it's obvious.
I argue, argued. Better than some not as well as some others.
Lack of complete preparation, insufficient facts, or just a dog you are arguing lead to losses. Facts of argument.
I always loved and still love to argue, it's stimulation.
I've noticed in the past few years I've lost effectiveness, I believe I may have boarded Biden's boat.
That's life........at least my mother didn't view me as a choice, she knew she had a baby boy inside her.

Thank you Mom and Dad..... RIP.



Just a tweak for some.

 

[falcon back]

Oh look, Gomer thinks a company should never change a policy because someone probably took a job thinking that all policies were written in stone and would last forever!

Floridays is just grateful they eliminated the job knowledge test for couriers. He would have been terminated as a result of failing an OPEN BOOK test.

 

[floridays]

Your advice was retire when you can to make sure you get a taste. Did you not take your own advice?

I taste every day, I do what I enjoy. I'm not bickering over a few more dollars.

Answer the damn question,
When will you become worm food?

 

[falcon back]

Fedex wasn't my first rodeo, who said I was retired?

Are you retired or not? If so, you should have retired at 55 to take advantage of the benefit. Never know when you will be worm food.

 

[floridays]

Oh look, Gomer thinks a company should never change a policy because someone probably took a job thinking that all policies were written in stone and would last forever!

Nice post, you can't argue on merit so you go to name calling.

Integrity, you lack it, no wonder Fedex called you back.

A simple question for you, you claim to be a Christian, here goes:

It's not possible that God can lie, but what would you say if Jesus renigged on His "policy."