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UPS Discussions
IAM pension plan reduction
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<blockquote data-quote="TR0LL" data-source="post: 793486" data-attributes="member: 32465"><p>That's a bad predicament to be in. Walking that tight rope on the will there be, or will there not be? I think those that started UPS, say before 2000, should be guaranteed a pension, though different start years and retirement ages should vary. The rest of us, well, suck it up and max out our 401k.... we make enough money to do so. We are the last "automotive industry" here in the U.S. and I think it would be irresponsible thinking, on our part, for us younger employees to think we'll retire, at 38, with 20 years in, with a $2000 a month pension. Those days are over and will never return. Many people, who have Masters Degrees, can't find work anywhere, this is a sign of the times, and for us to think we are entitled to so many things are just living in the clouds. I know there will be no pension for me when I retire, so I'll just work til I'm 65- 67, save 3 or so million on my 401k, retire, and just live off the interest....be more than a pension anyways.</p><p></p><p>But in your case, I hope you have your pension when you retire. In fact, you should be guaranteed it. And not have to live day be day worrying if it will be there when you retire or not. Good luck.</p></blockquote><p></p>
[QUOTE="TR0LL, post: 793486, member: 32465"] That's a bad predicament to be in. Walking that tight rope on the will there be, or will there not be? I think those that started UPS, say before 2000, should be guaranteed a pension, though different start years and retirement ages should vary. The rest of us, well, suck it up and max out our 401k.... we make enough money to do so. We are the last "automotive industry" here in the U.S. and I think it would be irresponsible thinking, on our part, for us younger employees to think we'll retire, at 38, with 20 years in, with a $2000 a month pension. Those days are over and will never return. Many people, who have Masters Degrees, can't find work anywhere, this is a sign of the times, and for us to think we are entitled to so many things are just living in the clouds. I know there will be no pension for me when I retire, so I'll just work til I'm 65- 67, save 3 or so million on my 401k, retire, and just live off the interest....be more than a pension anyways. But in your case, I hope you have your pension when you retire. In fact, you should be guaranteed it. And not have to live day be day worrying if it will be there when you retire or not. Good luck. [/QUOTE]
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