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UPS Partners
Management Retirement at 59
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<blockquote data-quote="beentheredonethat" data-source="post: 1192764" data-attributes="member: 4886"><p>Brownclown... I hope you are right, however, I don't think you are.</p><p></p><p>As other posters have mentioned, the amount listed in the total rewards portfolio is very low as compared to what the true future liabilities are. Often many retirement plans backload the pension obligations to the later years of an employee's work years. I have 25 years in and when I last looked I had something like 88K put away. If they extend the retirement then they can take longer to pay my pension obligation and technically it will need to be less since I'll have less years in retirement, since I'll have to work an additional 4 years. </p><p></p><p>Also, currently, there are a lot of old timers retiring and there are still a lot of 45-55 year old's working. Not a lot of people in the 35-45 year old range at UPS. Many people under 35, but many of these are people who stay for a handful of years, then leave. UPS still needs experienced people and this is a way of getting them to stay for a bit longer. </p><p></p><p>Again, I hope you are right, I'd like to be able to leave at 55 and work elsewhere.</p></blockquote><p></p>
[QUOTE="beentheredonethat, post: 1192764, member: 4886"] Brownclown... I hope you are right, however, I don't think you are. As other posters have mentioned, the amount listed in the total rewards portfolio is very low as compared to what the true future liabilities are. Often many retirement plans backload the pension obligations to the later years of an employee's work years. I have 25 years in and when I last looked I had something like 88K put away. If they extend the retirement then they can take longer to pay my pension obligation and technically it will need to be less since I'll have less years in retirement, since I'll have to work an additional 4 years. Also, currently, there are a lot of old timers retiring and there are still a lot of 45-55 year old's working. Not a lot of people in the 35-45 year old range at UPS. Many people under 35, but many of these are people who stay for a handful of years, then leave. UPS still needs experienced people and this is a way of getting them to stay for a bit longer. Again, I hope you are right, I'd like to be able to leave at 55 and work elsewhere. [/QUOTE]
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