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Brown Cafe UPS Forum
UPS Union Issues
710 Votes No - 3 to 1 margin
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<blockquote data-quote="Inthegame" data-source="post: 1281521" data-attributes="member: 37112"><p>I'm not familar with L710's 25 yr pension benefit in 1990. Most plans did not offer a 25 yr service pension until after 1997. L710 would have had to have a $100 accrual to pay the amount you've posted, which I doubt. The 25, 30 and 35 yr service pensions (any age and out) didn't become common until after '97 which caused a major deterent to benefit increases since that time as most plans were created with an age 65 retirement target.</p><p>You're comparing two different types of retirement plans that are very different animals. Most people learned a lesson when '08 happened and 401's lost 30-40%. Pensions lost money too but few failed to make obligatory benefit payments. If you retired in '07 and lived on a 401, you were friend'ed and went back to work, while pensioners never missed a beat. </p><p>The Union has negotiated on behalf of the group, not the individual, contributions to pensions. They also negotiated on your behalf an opportunity to participate in a 401. Do both.</p></blockquote><p></p>
[QUOTE="Inthegame, post: 1281521, member: 37112"] I'm not familar with L710's 25 yr pension benefit in 1990. Most plans did not offer a 25 yr service pension until after 1997. L710 would have had to have a $100 accrual to pay the amount you've posted, which I doubt. The 25, 30 and 35 yr service pensions (any age and out) didn't become common until after '97 which caused a major deterent to benefit increases since that time as most plans were created with an age 65 retirement target. You're comparing two different types of retirement plans that are very different animals. Most people learned a lesson when '08 happened and 401's lost 30-40%. Pensions lost money too but few failed to make obligatory benefit payments. If you retired in '07 and lived on a 401, you were friend'ed and went back to work, while pensioners never missed a beat. The Union has negotiated on behalf of the group, not the individual, contributions to pensions. They also negotiated on your behalf an opportunity to participate in a 401. Do both. [/QUOTE]
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UPS Union Issues
710 Votes No - 3 to 1 margin
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