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Massive retirements in 2013?
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<blockquote data-quote="barnyard" data-source="post: 963120" data-attributes="member: 13921"><p>I was listening to a couple of economists talk about the economy. They said that one of the signs of a recovery is increased retirements. We have 1 guy waiting to pay his wife off (I think that will take another year) and 3 waiting for the economy to improve. More than likely, they will all go about the same time, as their kids will all be out of college by then also.</p><p></p><p>From what I have seen, retiring is like an anti-aging drug. Every single driver that has retired since I started driving looks like a brand new person within 3 months. </p><p></p><p>As far as retiring after the contract is negotiated..... I think that is a mistake. Defined benefit retirements are going away. Might take a couple of contracts, but make no mistake, they are going away. Underfunding, plus retirees that draw retirements for longer than they worked are making it an unsustainable model. I expect that UPS will use future contracts to buy their way out of pension plans and once they are independent of all pension plans, they will go to a defined contribution plan.</p></blockquote><p></p>
[QUOTE="barnyard, post: 963120, member: 13921"] I was listening to a couple of economists talk about the economy. They said that one of the signs of a recovery is increased retirements. We have 1 guy waiting to pay his wife off (I think that will take another year) and 3 waiting for the economy to improve. More than likely, they will all go about the same time, as their kids will all be out of college by then also. From what I have seen, retiring is like an anti-aging drug. Every single driver that has retired since I started driving looks like a brand new person within 3 months. As far as retiring after the contract is negotiated..... I think that is a mistake. Defined benefit retirements are going away. Might take a couple of contracts, but make no mistake, they are going away. Underfunding, plus retirees that draw retirements for longer than they worked are making it an unsustainable model. I expect that UPS will use future contracts to buy their way out of pension plans and once they are independent of all pension plans, they will go to a defined contribution plan. [/QUOTE]
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