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<blockquote data-quote="pretzel_man" data-source="post: 477238" data-attributes="member: 927"><p>Smokey,</p><p> </p><p>I have 33 in and can retire in 2 years if I like. I like my job so I will probably stay longer. (besides, with the drop in stock price, I can use the extras money by staying longer).</p><p> </p><p>While there are no guarantees, I do not think UPS would be messing with pensions. They changed the plan a couple of times over the years, and nothing was bad. The most recent change gave the younger people a defined contribution plan instead of defined benefit plan.</p><p> </p><p>Also, the way I read the pension laws, they can only stop contributing. They cannot take away what is already earned.</p><p> </p><p>If in these very bad financial times, they didn't take away pension I don't see them doing so unless things got much, much worse.</p><p> </p><p>Also remember, even a defined contribution plan is invested in something. As the financial markets are depressed, defined contribution pensions must be impacted...</p><p> </p><p>Best of luck,</p><p> </p><p>P-Man</p></blockquote><p></p>
[QUOTE="pretzel_man, post: 477238, member: 927"] Smokey, I have 33 in and can retire in 2 years if I like. I like my job so I will probably stay longer. (besides, with the drop in stock price, I can use the extras money by staying longer). While there are no guarantees, I do not think UPS would be messing with pensions. They changed the plan a couple of times over the years, and nothing was bad. The most recent change gave the younger people a defined contribution plan instead of defined benefit plan. Also, the way I read the pension laws, they can only stop contributing. They cannot take away what is already earned. If in these very bad financial times, they didn't take away pension I don't see them doing so unless things got much, much worse. Also remember, even a defined contribution plan is invested in something. As the financial markets are depressed, defined contribution pensions must be impacted... Best of luck, P-Man [/QUOTE]
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