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Brown Cafe UPS Forum
UPS Retirement Topics
Is Central States pension fund ready to go under?
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<blockquote data-quote="mittam" data-source="post: 179072" data-attributes="member: 1223"><p>Most of us could do better putting the funds in our own 401k. Problems with gm and CS pension funds is exactly as you said, SS, the company(gm) and the CS run the pensions as social security. A pension plan(any) will fail being run this way. That's why they need to be put in as individual so the plan can survive, same as putting into our individual 401k's. Yeah any fund will have it's ups and downs but they survive from a constant deposit whether it is weekly or monthly. Then the withdrawal will be to one person ( or family ), not to several different people. You are right on about the fund failing, the only way to get it stopped is to start over at this point, regretably that's not possible, hence the start of the APWA.</p></blockquote><p></p>
[QUOTE="mittam, post: 179072, member: 1223"] Most of us could do better putting the funds in our own 401k. Problems with gm and CS pension funds is exactly as you said, SS, the company(gm) and the CS run the pensions as social security. A pension plan(any) will fail being run this way. That's why they need to be put in as individual so the plan can survive, same as putting into our individual 401k's. Yeah any fund will have it's ups and downs but they survive from a constant deposit whether it is weekly or monthly. Then the withdrawal will be to one person ( or family ), not to several different people. You are right on about the fund failing, the only way to get it stopped is to start over at this point, regretably that's not possible, hence the start of the APWA. [/QUOTE]
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Is Central States pension fund ready to go under?
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