UPS to freeze pension plans for nonunion staffers

[MyTripisCut]

Hardly ... you can buy an annuity to replace your monthly pension amount for around $750k, especially as interest rates creep back up.

Thanks @Turdhater , I'll stick with his advice, we are doing well.

 

[Brownslave688]

Sometimes cash is King

Yep. Gonna start buying precious metals with my wife's bonus this year.

 

[Catatonic]

But their benefit is more secure than a 401k. A pension is at least partiality guaranteed by the government. Nothing is guaranteed in a 401k.

Hopefully ...
That is the idea behind purchasing an annuity.
When my sister retired in 2007, I put her investments in 3 different annuity accounts all under $250k which was guaranteed.
One of the best investment decisions I ever made and it was for my sister ... oh well, I love her.

 

[Brownslave688]

Buy more guns....,

I need some. I really don't have squat for guns.

 

[JustAnotherMike]

Lol you really think it's guaranteed?


Like I tell my wife if the market tanks to the point that we have virtually nothing. We aren't going to be worried about how much money we have. We will be trying to survive.

It won't tank to nothing . Even if it does for a short period , it'll come back. Our country is ran off the markets . If the market flatlines too many big heads are losing their shirts. That's why America is so friend'n great . 9/11 friend'd up , but for the most part we should be okay. It's a safer investment than shying away from it . Imo

 

[MAKAVELI]

Depends on your definition of fine.

My pension is in decent shape. Around 90%. However 3k a month after 30 years when ups is giving $500 a week towards your retirement.....well that's a pretty ty return on investment

My definition of fine is if you are getting the money that was written in the contract and the fund is solid and not at risk. That's the security most want from their pension. I understand that a lot of pensions have problems. But most of those come from multi employer plans.

 

[Catatonic]

Yep. Gonna start buying precious metals with my wife's bonus this year.

I have small % investments in metals until 2 years ago ... now I'm at zero.
Metals are a commodity and is too stressful for a retired person unless it's for fun.

 

[Catatonic]

Preach this to @DriveInDriveOut

Can't teach that boy anything!

 

[IVE GOTTA PACKAGE 4U]

I think pensions are just as risky ... Pension funds invest in the same market as 401k.

Guess what if I die wife still has my 401k

 

[IVE GOTTA PACKAGE 4U]

Can't teach that boy anything!

Trying.. need a bigger stick

 

[JustAnotherMike]

Guess what if I die wife still has my 401k

Wish I could leave it to the dog

 

[Catatonic]

I think maybe he's saying if we as individuals invested what ups puts towards our pension we'd retire with 3 million.

That's conservative!

 

[IVE GOTTA PACKAGE 4U]

Wish I could leave it to the dog

My wife always took care of me.

 

[Brownslave688]

I have small % investments in metals until 2 years ago ... now I'm at zero.
Metals are a commodity and is too stressful for a retired person unless it's for fun.

I plan on having physical bars in the safe. Sounds FUN to me. Lol

 

[Catatonic]

Guess what if I die wife still has my 401k

And she has my pension as well ... I selected 100% survivor benefit.
Cost me about $900 a month off my monthly pension payment.

 

[MAKAVELI]

Lol you really think it's guaranteed?

Yes I do.
Retirement Plans and ERISA FAQs

 

[JustAnotherMike]

My wife always took care of me.

She's taking care of her investment



Jk buddy

 

[Brownslave688]

Guess what if I die wife still has my 401k

This is a huge thing too. I've gotta live 20 years just to get back what ups puts towards my pension. With a 401k I have all of that money immediatly available at 59.5.

 

[IVE GOTTA PACKAGE 4U]

She's taking care of her investment



Jk buddy

That's my girl

 

[MAKAVELI]

This is a huge thing too. I've gotta live 20 years just to get back what ups puts towards my pension. With a 401k I have all of that money immediatly available at 59.5.

And you could die at 60. So what's the point?