Where's my pension?

[542thruNthru]

Thanks Dave
But seriously, unfortunately if you are in a multi-employer plan the guarantee is very low

 

[Thebrownblob]

The government should start something that makes sure we don't totally lose our pension!

We could call it... Pension Benefit Guaranty Corporation or something...

Just spit balling here.

Well, since you’re in such a great pension, you probably never seen some of the numbers that would come out out of that pension guarantee.

Some of these guys were supposed to be getting over $4000 would’ve been busted to around $1000

Pretty much would have been eating alpo and living in a cardboard box.

As it was told to us by the fund managers if fund actually would’ve ran out of money it probably would’ve taken UPS out of business because of all of their unfunded liabilities.

 

[Thebrownblob]

Thanks Dave
But seriously, unfortunately if you are in a multi-employer plan the guarantee is very low

Very low.

I sat in quite a few of those meetings with retirees and looked around and realized the majority of those people couldn’t even really be able to go back to work. They had beaten their bodies up 30 and 40 years at companies and we’re about to be thrown to the wolves.

 

[542thruNthru]

Well, since you’re in such a great pension, you probably never seen some of the numbers that would come out out of that pension guarantee.

Some of these guys were supposed to be getting over $4000 would’ve been busted to around $1000

Pretty much would have been eating alpo and living in a cardboard box.

As it was told to us by the fund managers if fund actually would’ve ran out of money it probably would’ve taken UPS out of business because of all of their unfunded liabilities.

Did this Fund Manager say this before or after the Great Western Pension Robbery of 2023?

 

[IVE GOTTA PACKAGE 4U]

Very low.

I sat in quite a few of those meetings with retirees and looked around and realized the majority of those people couldn’t even really be able to go back to work. They had beaten their bodies up 30 and 40 years at companies and we’re about to be thrown to the wolves.

I think the number was about a third was guaranteed

 

[burrheadd]

I recall the buyout being like $25k when they offered it. That would have been about 6-7 years ago

Yeah that ship has sailed and you missed it

 

[burrheadd]

I'm aware it's not much. But I worked in that hellhole for long enough, I'll take whatever I can from them. Just trying to figure out who to contact. I know it's through UPS itself and not the union. So maybe the answer is to call a 1-800 nu mm ber at UPS and go through all the bull to figure it out.

LOL good luck with that

 

[Thebrownblob]

Did this Fund Manager say this before or after the Great Western Pension Robbery of 2023?

Obviously before lol

 

[rod]

Thanks Dave
But seriously, unfortunately if you are in a multi-employer plan the guarantee is very low

i would have went from 3,000 a month to like 1,200----with no guarantees that program wasn't going tits up.

 

[Thebrownblob]

i would have went from 3,000 a month to like 1,200----with no guarantees that program wasn't going tits up.

Yep, with the amount of pensions that was going to go belly up, there was no guarantee that the guarantee was guaranteed!