Pension letter

[UpstateNYUPSer(Ret)]

Sounds like like something a YRC or New Penn Teamster would know about. Ask one the next time you're on a dock or at a union meeting with one.

The boys from YRC don't like me.

 

[UpstateNYUPSer(Ret)]

This would be a pension freeze.

That's not what the letter said.

 

[danlin]

Mine are $2,300 a year for a 2,200 sq. ft. 3 bedroom (built in 2004), 2 bath, full basement (set up for 2 more bedrooms and a full bath but not built yet), extra wide 2 stall garage, with an extra 28X36 heated workshop on 5 acres with 365 feet of Mississippi River frontage. But I do have to put up with some cold weather. Mn. does have a sales tax but it don't apply to clothes or food.

About the same in Wyoming...

 

[Ms.PacMan]

That's not what the letter said.

What I wrote was meant to have a question mark behind it. Pension feeze?

Would a pension freeze be such a bad thing though? They usually involve a choice between a lump sum payout or staying in the current pension and UPS may switch you all to a defined contribution 401k.

I don't recall CS ever intimating that a suspension was in our future - your fund seems to be going about things differently.

 

[Foamer Pyle]

Yes - Bernie Sanders has a proposal
http://www.pensionrights.org/newsro...ur-act-stop-devastating-cuts-retirees-pension

It partitions off the pensions from orphaned companies and allows the pbgc to contribute to that fund and supplement pension payouts up to the 110%. It leaves the other employers/employees in the fund to go its natural course (whatever that may be). He would also close two tax loopholes and put that money in a legacy fund to additional pension payouts, if needed, for the orphaned pensions.

Bernie Sanders is a total maroon.

 

[Billy Ray]

I think that any wage increases will be diverted directly to the pension.

Isn't that what happened in your local?


" Let's give these people that have an established history of financial mismanagement, more money! "

 

[UpstateNYUPSer(Ret)]

Isn't that what happened in your local?


" Let's give these people that have an established history of financial mismanagement, more money! "

Yes, we diverted several of our split raises directly to the pension. The thought process at the time was that it would help the pension.

 

[Ms.PacMan]

Since UPS doesn't want to buy you guys out of the fund I hope they come up with something for you.

You would think it would have to change other than just lowering pension amounts going forward.

 

[realbrown1]

The boys from YRC don't like me.

The boys from UPS don't like you much either.

 

[UpstateNYUPSer(Ret)]

According to the FNN, UPS is planning on buying out our pension. $3,500/month at 25 and out. From what I was told they really want to get rid of the older drivers so there may be additional incentives offered. I will be curious to see how this plays out.

 

[By The Book]

According to the FNN, UPS is planning on buying out our pension. $3,500/month at 25 and out. From what I was told they really want to get rid of the older drivers so there may be additional incentives offered. I will be curious to see how this plays out.

Time to get to a meeting.

 

[UpstateNYUPSer(Ret)]

Time to get to a meeting.

I am waiting for them to schedule one.

 

[retired2000]

Heard that there is a meeting between pension fu d people and ups soon. Sounds like you maybe right. What about us older guys

 

[IVE GOTTA PACKAGE 4U]

Heard that there is a meeting between pension fu d people and ups soon. Sounds like you maybe right. What about us older guys

You're off the books... They don't care. It's truly sad

 

[UpstateNYUPSer(Ret)]

Heard that there is a meeting between pension fu d people and ups soon. Sounds like you maybe right. What about us older guys

I assume by your user name that you retired in 2000. I am afraid that you may be in the same boat as the CS pre-2008 folks.

 

[PT Car Washer]

I assume by your user name that you retired in 2000. I am afraid that you may be in the same boat as the CS pre-2008 folks.

Our Local Union officers are in that same boat. Both retired and those still working. I doubt if UPS volunteers to help bail them out.

 

[olroadbeech]

You'd starve in California.

After Federal income tax, California income tax and state sales and gas taxes, you'd be left with under $20,000.00.

In California, that's near poverty.

not really.
for a married couple you get 12,600 standard deduction ( if no itemizing ) and 8000 for exemptions. you can also still contribute to an IRA . up to 13000. ( we still max IRA every year )

so your taxable income would be around 28000 ( or less )or 15000 depending on what you do. your tax would be either around 4 grand or 2250. ( lower tax bracket ). The last full year i worked i paid around 15000 dollars in taxes. ca and state.

California state taxes are not that bad. we paid about 700 last year. our home value went up over 25k in 2015 so that more than makes up for the cost of living in Cali. we bought for 150k and can easily get 450k after only 20 years.

i'm just going by our situation. it wasn't so bad for us and we live in a high priced resort area. we are actually in a much better situation tax wise as when i was working.

 

[dookie stain]

So even at $4,100 that is still $49,200 a year. There is nothing wrong with getting a little gig so you don't get bored after retiring but you make it sound like you would starve on $49,200 a year. I seriously doubt it unless you are retiring with a butt load of debt.

$49,000 a year is poverty in California

 

[Boulevard859710]

You'd starve in California.

After Federal income tax, California income tax and state sales and gas taxes, you'd be left with under $20,000.00.

In California, that's near poverty.

That's Commiefornia for you.

 

[MC4YOU2]

Depends on what else you're still paying for. If your mortgage and car payments are all done you'd be alright I'd think. Too many toys are what kills a lot of people and I know the rent in some areas there is horrific.