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Brown Cafe UPS Forum
UPS Retirement Topics
New England Teamsters Pension Fund: More Bad News
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<blockquote data-quote="brownIEman" data-source="post: 379233" data-attributes="member: 14596"><p>This is a bad situation that is only going to get worse. At some point, UPS is going to have to get out of these multi employer plans and just look after the UPSers. Or the union is going to have to get more union employers on board and paying in again. The system is simply not sustainable as it is, and it will not help IBT retirees for UPS to keep paying more and more to the point where it can no longer be profitable.</p><p></p><p>There may be a workable reform coming or a government bailout at some point, but I would certainly not suggest counting on it. Like social security, I would not figure this thing too highly into my retirement plans. If you are not investing at least 10% of your income (pref. 15% or more) in a separate retirement account you are not taking care of yourself and your future.</p></blockquote><p></p>
[QUOTE="brownIEman, post: 379233, member: 14596"] This is a bad situation that is only going to get worse. At some point, UPS is going to have to get out of these multi employer plans and just look after the UPSers. Or the union is going to have to get more union employers on board and paying in again. The system is simply not sustainable as it is, and it will not help IBT retirees for UPS to keep paying more and more to the point where it can no longer be profitable. There may be a workable reform coming or a government bailout at some point, but I would certainly not suggest counting on it. Like social security, I would not figure this thing too highly into my retirement plans. If you are not investing at least 10% of your income (pref. 15% or more) in a separate retirement account you are not taking care of yourself and your future. [/QUOTE]
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New England Teamsters Pension Fund: More Bad News
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