UPS to freeze pension plans for nonunion staffers

[Catatonic]

"Raiding" ss started with Lyndon Johnson.

I have never heard of this although you do have "Raiding" quoted.

I am not aware of any actual funding of SS Taxes or the SS Trust Fund being used for other purposes.

 

[MAKAVELI]

Basically true but paragraph three might seem to indicate that actual funds were taken from the Soc Sec Trust Fund when that is not the case.
Soc Sec Funding is in trouble because people are living too long and the workforce is shrinking ... more people receiving SS than are paying into it.

Maybe not from the actual fund. But from its surplus. No matter how you spin it, If Bush never invaded Iraq And Afghanistan, and gave the rich huge tax cuts, Social Security would definitely be in better shape.

 

[Brownslave688]

I have never heard of this although you do have "Raiding" quoted.

I am not aware of any actual funding of SS Taxes or the SS Trust Fund being used for other purposes.

The excess is sold as bonds to fund the government.


Did George W. Bush 'borrow' from Social Security to fund the war in Iraq and tax cuts?

 

[UPS2012]

UPS to freeze pension plans for nonunion staffers - Fox Business

United Parcel Service is planning to freeze pension plans for thousands of nonunion employees, seeking to contain the burden of a retirement fund with a nearly $10 billion deficit.

The carrier is expected to announce measures to corral the rising pension obligations to its workforce Wednesday, people familiar with the matter said. Other details couldn't be learned.

UPS has more than 434,000 workers world-wide, with more than 80% in the U.S. Most of them are unionized. Any retirement-plan changes would apply only to management employees, who number 78,000.

That sucks

 

[Brownslave688]

Maybe not from the actual fund. But from its surplus. No matter how you spin it, If Bush never invaded Iraq And Afghanistan, and gave the rich huge tax cuts, Social Security would definitely be in better shape.

Not true. The money would of been spent somewhere.


Probably should of been spent on a wall and infrastructure but ya know.

 

[TearsInRain]

how did this thread go from management pensions and 401k to social security and union pensions lmao

 

[Brownslave688]

how did this thread go from management pensions and 401k to social security and union pensions lmao

I compared pensions to ss. Two outdated broken systems.

 

[MAKAVELI]

how did this thread go from management pensions and 401k to social security and union pensions lmao

Because nobody likes management.

 

[MAKAVELI]

I compared pensions to ss. Two outdated broken systems.

401k is fools gold.

 

[DriveInDriveOut]

401k is fools gold.

@IVE GOTTA PACKAGE 4U

 

[Brownslave688]

401k is fools gold.

It's never a bad thing to save money. 401k is no different than straight stock investing or real estate or precious metals.


You keep dreaming of 30 years in retirement of ss and pensions.


I'll stick to building my private portfolio of a few million and if it's there it'll be icing on the cake.

 

[MAKAVELI]

It's never a bad thing to save money. 401k is no different than straight stock investing or real estate or precious metals.


You keep dreaming of 30 years in retirement of ss and pensions.


I'll stick to building my private portfolio of a few million and if it's there it'll be icing on the cake.

The point I'm making is don't put all your eggs in one basket. Many people have socked away everything they could into only stocks in 401k plans only to be very disappointed with the end result and pissed they didn't make other investments as well.

 

[Brownslave688]

The point I'm making is don't put all your eggs in one basket. Many people have socked away everything they could into 401k plans only to be very disappointed with the end result and they didn't make other investments as well.

One basket would be all ups stock.

401k can be very diversified.

 

[MAKAVELI]

One basket would be all ups stock.

401k can be very diversified.

The one basket I'm talking about is the stock market..

 

[Over 70]

That is strange. Most chefs love what they do and make a good living at it.

It depends where you live. They may make an alright living but never great other than the 1%...

 

[brownalltheway]

New retirement plan cost me 1100 a month if I retire at 65. So much for the transition payment. Also millennials end up making 2000 more if they retire at 65. UPS has screwed the older generation again and the management committee continues to get rich. Time to gather steam and vote them out of office

 

[brownalltheway]

You can double your money in six years if you average 12 percent

 

[FrigidFTSup]

New retirement plan cost me 1100 a month if I retire at 65. So much for the transition payment. Also millennials end up making 2000 more if they retire at 65. UPS has screwed the older generation again and the management committee continues to get rich. Time to gather steam and vote them out of office

I'm a millenial and not getting a nickel from a pension. Almost nobody in my generation at this company will ever see anything from a pension. Maybe you should have planned better.

 

[hellfire]

Get off your cross hoax

 

[wide load]

UPS to freeze pension plans for nonunion staffers - Fox Business

United Parcel Service is planning to freeze pension plans for thousands of nonunion employees, seeking to contain the burden of a retirement fund with a nearly $10 billion deficit.

The carrier is expected to announce measures to corral the rising pension obligations to its workforce Wednesday, people familiar with the matter said. Other details couldn't be learned.

UPS has more than 434,000 workers world-wide, with more than 80% in the U.S. Most of them are unionized. Any retirement-plan changes would apply only to management employees, who number 78,000.

Pre contract ploy. Last contract it was "a reduction of non union medical benefits".
Before that it was stock plummets, fending off DHL and plane purchases. I call scam and couldn't give 2 poops about non union employees at UPS. Unless you're directly associated with touching cardboard, you are a drain on the company.