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UPS Retirement Topics
May 10th Announcement .Pension
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<blockquote data-quote="add it up" data-source="post: 193320"><p>I agree that the 635K will be substancially more in the futurer if invested. You'll still be lucky to match the current pension. I can assure you that any changes made will be to benefit the company and upper management at the expense of low/mid level mangement and our non-union people. With 20 years we are somewhat protected. By law your current pension benefits can't be reduced without your approval if the plan is funded. The pay-off is the bait needed for your approval. The cost saving will begin when the current plan is frozen or eliminated. The additional 3% at 6500 per month salery would cost ( if, and only if, you contribute) UPS an additional $2,340 per year or a total of 4,680 per year including the current 3% match. That's far less than what it costs to fund the current plan and it shouldn't take a rocket scientist to figure out that if you put less in you'll get less out. 3jb</p></blockquote><p></p>
[QUOTE="add it up, post: 193320"] I agree that the 635K will be substancially more in the futurer if invested. You'll still be lucky to match the current pension. I can assure you that any changes made will be to benefit the company and upper management at the expense of low/mid level mangement and our non-union people. With 20 years we are somewhat protected. By law your current pension benefits can't be reduced without your approval if the plan is funded. The pay-off is the bait needed for your approval. The cost saving will begin when the current plan is frozen or eliminated. The additional 3% at 6500 per month salery would cost ( if, and only if, you contribute) UPS an additional $2,340 per year or a total of 4,680 per year including the current 3% match. That's far less than what it costs to fund the current plan and it shouldn't take a rocket scientist to figure out that if you put less in you'll get less out. 3jb [/QUOTE]
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