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UPS Retirement Topics
May 10th Announcement .Pension
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<blockquote data-quote="bones" data-source="post: 193220" data-attributes="member: 8429"><p>It is not 635K vs. 1.3M, if you had the 635K you have it invested until the time you retire, in my case with 21 years in and only 39 years old at 6% interest over the next 16 years that would equal around $1.7M. You could put this in an annuity or bond and draw somewhere around $8400 a month the rest of your life and never touch the principal. Not to mention if I live another day or 40 years the money would go to my wife and kids, what happens to my pension if I die tomorrow? Does my family get anything? I think the buyout (if there even is one) is a very good thing for most, I would much rather have the money than take the chance of it being there at 55, there is alot that could happen between now and then, given UPS track record of the last few years and how in my opinion managers and supervisors continue to get less and less (MIP, benifits, etc...) I don't trust UPS with the pension benifit, I see us working longer and longer for less. In my opinion partnership no longer includes managers and supervisors. Give me mine now, then if I decide next year I don't want to do this any longer I can go do something I enjoy.</p></blockquote><p></p>
[QUOTE="bones, post: 193220, member: 8429"] It is not 635K vs. 1.3M, if you had the 635K you have it invested until the time you retire, in my case with 21 years in and only 39 years old at 6% interest over the next 16 years that would equal around $1.7M. You could put this in an annuity or bond and draw somewhere around $8400 a month the rest of your life and never touch the principal. Not to mention if I live another day or 40 years the money would go to my wife and kids, what happens to my pension if I die tomorrow? Does my family get anything? I think the buyout (if there even is one) is a very good thing for most, I would much rather have the money than take the chance of it being there at 55, there is alot that could happen between now and then, given UPS track record of the last few years and how in my opinion managers and supervisors continue to get less and less (MIP, benifits, etc...) I don't trust UPS with the pension benifit, I see us working longer and longer for less. In my opinion partnership no longer includes managers and supervisors. Give me mine now, then if I decide next year I don't want to do this any longer I can go do something I enjoy. [/QUOTE]
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May 10th Announcement .Pension
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