Pretender, let me first clarify my own personal position. I have never been a student of the pension or system, that is, this retirement thing kinda took me by surprise. How?
I never thot I'd reach this point in my life. I was just living like I think everyone should. Pay your bills, get outta debt, stay outta debt, pay cash for everything, maxing the 401, buying Roth IRAs, making other investments, doing my job, taking care of other busi. I would go to the General Mem meetings where one of the trustees of CS was a BA. We'd, or should I say, many in attendance would ask him about the CS trouble even then. That's when we got all those vague, as in congressional hearings, answers. I was merely asking those questions because I couldn't understand how this corporation could claim to be in such trouble when I was faced with similar troubles when I was hooked up with my ex. I came out of it with some diligent planning. Why couldn't they?
Well, then, I was just plugging along. In the meantime, many of my friends and acquaintances were, kinda, dying. I mean, really dying. I was starting to have some issues of my own---cervical fushion, two knee arthos, two complete hip replacements, taking care of my mother while she was dying. It kinda quickly drove home that I still had some things to do and this job thing was just getting in the way. I sat down with my wife, drew everything on paper and I bailed. Just like that. Didn't really plan it, it just worked and is working today.
My point? I never and still don't pay much attention to the pension, other than I knew CS was/is/will be in trouble. I don't rely on it to live. When I said I will be getting all my pension from CS in about a month, the way I understand it is that, since I was vested in CS for 30 years before UPS bailed it out (I know it was not a bailout, but it seems like it), I'll get the majority of pension from CS, thirty yrs worth, with the rest, about 2 years, picked up by UPS. I don't ever remember it written that if CS goes completely belly-up that UPS will pick up the balance. It's been said that out of the goodness of UPSs heart, they'll do that but I was here long enought to know that there ain't a whole lotta goodness in the big UPS heart, at least not enough to take care of me.
Now, I'm prepared for others to absolutely set me straight on this. Am I right or wrong? Or, if you want, flame me too. I got thick skin. As they say, "Sticks and stones may break my bones, but chains excite me!".
