Why a 401(k) Will Yield You More Money Than a Pension

[Just A UPS Guy]

Too many guys get this idea into their head, "Well, I'm making $100,00 a year
driving package car, that should be what my pension number is or at least close
to it. That's absurd.

Ummm...my pension will me close to that. Doesn't seem so absurd.

 

[PT Car Washer]

My father retired in 2008. his IRA (which was mostly his 401k rolled over) bottomed out at a million. he's rather thrifty and has only taken his RMDs out. never had any roth despite my mild advisement to do some conversions. His IRA is currently 3.2 million.

Saving for his old age? A lot of us that growing up never had any money and now that we have a few Dollars want to hang on to it. My wife always tells me you can't take it with you. Little does she know. LOL

 

[Thebrownblob]

Saving for his old age? A lot of us that growing up never had any money and now that we have a few Dollars want to hang on to it. My wife always tells me you can't take it with you. Little does she know. LOL

Maybe if you were smart enough to make investments instead of keeping your cash in the sock drawer you’d understand.

 

[PT Car Washer]

Maybe if you were smart enough to make investments instead of keeping your cash in the sock drawer you’d understand.

You are funny. That's just my play money.

 

[DELACROIX]

Saving for his old age? A lot of us that growing up never had any money and now that we have a few Dollars want to hang on to it. My wife always tells me you can't take it with you. Little does she know. LOL

Seriously…with this Contract are you ever going to see an increase your pension benefits?

Have you been proactive or have you just given up over them freezing your benefits past 35 years service?

If you were lucky enough to be under the Peer 80 / Peer 84 formulas you would probably be getting over 4,000 a month for all those hours you accumulated working a full time schedule. That is what is pissing off most of us here..The Company is benefiting by you working a full time shift and not contributing or Adding anymore into your final pension benefits.

 

[oldupsman]

Ummm...my pension will me close to that. Doesn't seem so absurd.

I'm sincerely happy for you. From my experience that sounds like the best plan in the country.
I'd check on the current funding level. Our local sends out a letter every year telling us what the
current level is.

But if the funding level is good and that's your number, congratulations. I'd make
sure those guys in charge stay there because I've never heard of a number that high.

 

[Just A UPS Guy]

I'm sincerely happy for you. From my experience that sounds like the best plan in the country.
I'd check on the current funding level. Our local sends out a letter every year telling us what the
current level is.

But if the funding level is good and that's your number, congratulations. I'd make
sure those guys in charge stay there because I've never heard of a number that high.

I'm in the west, and it's currently funded right at 99%. We contribute about $27k a year as long as you work 2080 hours, so the return is pretty great for each year of credit.

@542thruNthru posted this recently.

 

[I GOT ONE MORE]

I'm in the west, and it's currently funded right at 99%. We contribute about $27k a year as long as you work 2080 hours, so the return is pretty great for each year of credit.

@542thruNthru posted this recently.

View attachment 433372

We?
You meant UPS, the company, that also pays your weekly payday, medical, etc.
You know, entitled people don’t appreciate what most don’t have, yet expect more.

The West is the best, some here summed up the retirement scenario perfect, 3 legs.
401k/IRA
Social security and
Pension, (if you are fortunate to have one).
and your retirement will be more than adequate.

 

[Just A UPS Guy]

No, sir, we put that money into HWP. You clearly don't understand...

A) How the west operates,

and

B) The concept of compensation.

 

[Thebrownblob]

We?
You meant UPS, the company, that also pays your weekly payday, medical, etc.
You know, entitled people don’t appreciate what most don’t have, yet expect more.

The West is the best, some here summed up the retirement scenario perfect, 3 legs.
401k/IRA
Social security and
Pension, (if you are fortunate to have one).
and your retirement will be more than adequate.

Do you mean union negotiated? UPS doesn’t give us anything we don’t fight for. if you believe they would you’re very naïve.

 

[PT Car Washer]

Seriously…with this Contract are you ever going to see an increase your pension benefits?

Have you been proactive or have you just given up over them freezing your benefits past 35 years service?

If you were lucky enough to be under the Peer 80 / Peer 84 formulas you would probably be getting over 4,000 a month for all those hours you accumulated working a full time schedule. That is what is pissing off most of us here..The Company is benefiting by you working a full time shift and not contributing or Adding anymore into your final pension benefits.

Are you proposing a mandatory retirement age? I do appreciate all of your concerns.

 

[Babagounj]

Bring back 25 & out.

 

[DELACROIX]

Are you proposing a mandatory retirement age? I do appreciate all of your concerns.

It doesn’t get to you that a part timer under the West with less service time will be able to collect “twice” as much in pension benefits?

Very understanding of you if it doesn’t…

 

[I GOT ONE MORE]

No, sir, we put that money into HWP. You clearly don't understand...

A) How the west operates,

and

B) The concept of compensation.

I understand clearly, you don't appreciate what you have.
Could it bee more?
Could the union bargain you guys into riches, or into the streets?
What would be your hourly rate without all the benefits?
$75/hr?? 100/hr?

Sure the union bargained for it all. Got it.
But the company is the spigot. You got zip if it's closed.
The biggest Teamster union has some big ass balls, but one day there're gonna get removed.

 

[DELACROIX]

I understand clearly, you don't appreciate what you have.
Could it bee more?
Could the union bargain you guys into riches, or into the streets?
What would be your hourly rate without all the benefits?
$75/hr?? 100/hr?

Sure the union bargained for it all. Got it.
But the company is the spigot. You got zip if it's closed.
The biggest Teamster union has some big ass balls, but one day there're gonna get removed.

…and when will that happen…?

Old learned One…

268 B/C posts since 2006

 

[Just A UPS Guy]

...one day there're gonna get removed.

I've asked before, and you've not answered, but I'll give it a shot again....

How will the union will be removed?

 

[Just A UPS Guy]

I understand clearly, you don't appreciate what you have.

How would you qualify this statement?

 

[anonymous23456]

I've asked before, and you've not answered, but I'll give it a shot again....

How will the union will be removed?

UPS takes 1 billion dollars loss and wipes out Union by laying off all of them? UPS would love the Amazon slaving model.

 

[IVE GOTTA PACKAGE 4U]

UPS takes 1 billion dollars loss and wipes out Union by laying off all of them? UPS would love the Amazon slaving model.

They would lose two billion dollars a week of revenue of us being on strike
The shareholders would never put up with it

 

[anonymous23456]

They would lose two billion dollars a week of revenue of us being on strike
The shareholders would never put up with it

It is also weird that some of us are also shareholders with tiny amount of holdings.