UPS to freeze pension plans for nonunion staffers

[MAKAVELI]

We will have to pry that money from
The unions cold dead hands.

From my understanding, the plans that are UPS only are doing fine.

 

[wagpd4]

Why'd you reduce contributions?

payed debt instead and worried about the obama markets

 

[IVE GOTTA PACKAGE 4U]

Man they are trying though. Let's just pump more money into it. $400+ a week now I believe. May be pushing $500 by now.

$536 here

 

[Brownslave688]

Probably better than sitting on some long term bonds in a rising interest rate market like we have now

You've gotta have some of course.


Most of my stocks while retired will be high divedend yield though. Even if they tank you're getting some money out of them.

 

[Brownslave688]

$536 here

Holy . That's insane. Yep we should all be multi millionaires.

 

[Catatonic]

Good thing you left at 75...

58 years young.

 

[IVE GOTTA PACKAGE 4U]

You've gotta have some of course.


Most of my stocks while retired will be high divedend yield though. Even if they tank you're getting some money out of them.

Sometimes cash is King

 

[IVE GOTTA PACKAGE 4U]

Holy . That's insane. Yep we should all be multi millionaires.

Not gonna happen here

 

[SafetyFirst]

Union will never give up control of that money

 

[Brownslave688]

More like IBT will not let members make that decisions.
The IBT wants every penny that can wrangle out of UPSers.

Ups is all the teamsters have now.

 

[MAKAVELI]

The teamsters want raises (Union dues go up) pension contribution raises (they control that money) and healthcare contribution raises (oh guess what they control that now too)


It's not about what the members what. Come on.

More like IBT will not let members make that decisions.
The IBT wants every penny that can wrangle out of UPSers.

That's not true for the entire company.

 

[Catatonic]

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+

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

 

[Brownslave688]

From my understanding, the plans that are UPS only are doing fine.

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

 

[Catatonic]

You've gotta have some of course.


Most of my stocks while retired will be high divedend yield though. Even if they tank you're getting some money out of them.

That's all the stocks I have ... criteria:
Must have paid dividends for 20 years or more.
Dividend yield cannot be cut in last 20 years or more.
Yield must be 3% or more of stock value.
Beta less than 0.86.

 

[JustAnotherMike]

20% into 401k and manage your own Roth IRA. You're a fool if you let a monster company manage your money

 

[MAKAVELI]

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

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.

 

[Brownslave688]

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

The difference is when the market tanks an individual can cut costs to try and lighten the hit.


A pension can't. They have to keep paying out the exact same benefits no matter how low it goes.

 

[Catatonic]

That's not true for the entire company.

You meant for every employee in the entire company?

 

[Brownslave688]

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.

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.

 

[BakerMayfield2018]

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.

Buy more guns....,