UPS to freeze pension plans for nonunion staffers

[Catatonic]

Did you sit on the sidelines for those 5 years and then blame Obama because you missed out on 5 years of growth? If so you're a fool who has no business making his own investing decisions.

I don't don't try and time the market ... like I said, I was even by early 2013.
5 years to get back where I was.
I don't do my own investing since 2005 ... I had enough to retire then ... I've got about 3 times more than I need to retire now.

Oh yeah, you're still working ... oh well!

 

[Catatonic]

That's their own fault.

With ups putting a healthy amount into our 401k and employees putting at least 10% away we'd all retire millionaires

Easily and if they invest in addition to maxing out 401k each year ... easily multi-millionaires.

 

[MAKAVELI]

That's cool. I understand that. I thought we were talking about how ups could get out of our pensions.


The only way that could happen with them still making plenty of money like now would be to give us a large defined contribution to our 401k.

401k were never meant to be the main source of income for retirement. There's a reason for that. It's to risky.

 

[Catatonic]

Not here it isn't and we aren't alone. UPS doesn't want 60 year old drivers hanging around.

UPS doesn't want any 60+ year olds ... in any position.

 

[IVE GOTTA PACKAGE 4U]

Yeah but honestly other than a couple times in history we've never been more than 4-5 years away from recovering your money.

Well....1929 till 1954



25 Years to Bounce Back? Try 4½

 

[IVE GOTTA PACKAGE 4U]

UPS doesn't want any 60+ year olds ... in any position.

Good thing you left at 75...

 

[BakerMayfield2018]

UPS doesn't want any 60+ year olds ... in any position.

Yea ...well ... I don't want any fat people on the beach.............

 

[IVE GOTTA PACKAGE 4U]

Yea ...well ... I don't want any fat people on the beach.............

So you stayed in the hotel?

LMAO!

Boom!

 

[BakerMayfield2018]

I don't don't try and time the market ... like I said, I was even by early 2013.
5 years to get back where I was.
I don't do my own investing since 2005 ... I had enough to retire then ... I've got about 3 times more than I need to retire now.

Oh yeah, you're still working ... oh well!

I love ya dude BUT.......Why you gotta be such an a * hole? ...you know over 90% of people here are "still working " right....

 

[Catatonic]

Personally, I hope UPS gets what it deserves. I'd love to see a day when they no longer have the manpower to run their business. I mean, honestly, I'd rather they reverse course and start doing what's necessary to keep their workforce happy and emplyed with the company... but we all know that will never happen.

Enjoy your twilight years UPS. It might be 5 years, a decade, or 20 years... but sooner or later, you'll be out of business.

I guess you don't work for UPS with that attitude.
If that happens, you will not have a pension or insurance when it happens.
Keep in mind, UPS Management is no more UPS than a Driver is ... we're all just employees.

 

[wagpd4]

Lost about 20k back then. Reduced contris to 2% from 10. Was at 70k then, at about 200k now.

 

[wagpd4]

on paper of course

 

[BakerMayfield2018]

Lost about 20k back then. Reduced contris to 2% from 10. Was at 70k then, at about 200k now.

Nice

 

[Brownslave688]

Well....1929 till 1954



25 Years to Bounce Back? Try 4½

And if you'd continued to put money in while it was low your break even point would be lower and lower the more you bought low.

 

[Brownslave688]

Lost about 20k back then. Reduced contris to 2% from 10. Was at 70k then, at about 200k now.

Why'd you reduce contributions?

 

[Catatonic]

It took 5 years to get back where it was but those that stayed in and continued to buy stocks super cheap in 08-09. Their balances recovered much quicker than 5 years.

Agree with that ... I made very good ROI for my continued investments from 2008 - 2013.
I worked 2 months in 2013 before I retired and I still put $22k in my 401k for 2013 (You can donate 100% of MIP to your 401k in the year you retire).

 

[Brownslave688]

401k were never meant to be the main source of income for retirement. There's a reason for that. It's to risky.

Pensions have turned out to be just as risky.


Pensions were meant to support people for 15 years in retirement same as SS. Not 30+

 

[Catatonic]

Over how many years? And you better hope there isn't another Recession close to your retirement.

How old are you.
One changes their mix as they get closer to retirement.

 

[Brownslave688]

So you stayed in the hotel?

LMAO!

Boom!

He kept his shirt on. It was pathetic.

 

[IVE GOTTA PACKAGE 4U]

And if you'd continued to put money in while it was low your break even point would be lower and lower the more you bought low.

Kinda of hard when you aren't working