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Brown Cafe UPS Forum
UPS Partners
MIP, Pension etc
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<blockquote data-quote="BrownBlackandBlue" data-source="post: 276482" data-attributes="member: 6940"><p>Come what may, I still think I make pretty good money, but I have been around for a while. As I feel my compensation is being trimmed or different parts of it become less attractive, I make adjustments. When my MIP was reduced and I only received 1/2 of it, I stopped working the 12-14 hour days. Now I work 9 (12 at peak). When the discounted stock purchase plan began to require holding stock for 2 years, I stopped participating. Last month, I did my most radical thing to date. After my ownership incentive for MIP was set, I sold 4/5 of my UPS stock because: 1. The stock has been flat for 5 years and I have missed out on 5 years that that money could have grown substancially in the rest of the market. 2. I am no longer willing to accept the risk of 1/2 of my net worth being tied up in a single investment. 3. The ownership incentive is nice but again I only get 1/2 of it, if I leave UPS, I don't get my money. </p><p> I have been thinking of doing #3 for a few years but was never able to pull the trigger. I was a little worried about the meeting with my District Manager to receive my stock this year, but he didn't know I had sold and thanked me for maintaining my ownership level.</p><p> If the pension is eliminated, I will adjust again. I figure it frees me from having to stick around for another 14 years to earn a full pension. I had always thought I would work my whole life at UPS and retire with a nice pension. I don't think so anymore. But I'm actually glad, because it has caused me to come up with a better plan for my life.</p></blockquote><p></p>
[QUOTE="BrownBlackandBlue, post: 276482, member: 6940"] Come what may, I still think I make pretty good money, but I have been around for a while. As I feel my compensation is being trimmed or different parts of it become less attractive, I make adjustments. When my MIP was reduced and I only received 1/2 of it, I stopped working the 12-14 hour days. Now I work 9 (12 at peak). When the discounted stock purchase plan began to require holding stock for 2 years, I stopped participating. Last month, I did my most radical thing to date. After my ownership incentive for MIP was set, I sold 4/5 of my UPS stock because: 1. The stock has been flat for 5 years and I have missed out on 5 years that that money could have grown substancially in the rest of the market. 2. I am no longer willing to accept the risk of 1/2 of my net worth being tied up in a single investment. 3. The ownership incentive is nice but again I only get 1/2 of it, if I leave UPS, I don't get my money. I have been thinking of doing #3 for a few years but was never able to pull the trigger. I was a little worried about the meeting with my District Manager to receive my stock this year, but he didn't know I had sold and thanked me for maintaining my ownership level. If the pension is eliminated, I will adjust again. I figure it frees me from having to stick around for another 14 years to earn a full pension. I had always thought I would work my whole life at UPS and retire with a nice pension. I don't think so anymore. But I'm actually glad, because it has caused me to come up with a better plan for my life. [/QUOTE]
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