Pension letter

brownmonster

Man of Great Wisdom
I am not naive enough to rely solely on a pension for retirement. Luckily my wife is a financial guru in many ways. That doesn't mean I will happily say "Oh this is the way the world works now", like everyone seems to be ok saying with our benefits slowly disappearing. This company is making RECORD profits. I want what is promised. It's part of our pay as far as I'm concerned. If it's not gonna be there, put it in my check and I will invest it.
The company gives plenty of money to the pension plans for a moderate pension. Funds promising more than they can afford is part of the problem.
 

FrigidFTSup

Resident Suit
wow, let me explain, if you piss off the workforce, and even you will admit, drivers dictate the profits, there will be no future for ups
Contrary to popular belief the driver group doesn't dictate profits. The sales people don't dictate profits, I.E. doesn't dictate profits, etc. It's how the company operates as a whole which dictates profits. Being too heavy in one area or too lean in another can destroy profits.
 

35years

Gravy route
For years we have heard about drivers out east pulling down $7,000+ a month pensions. I don't know if it was upstate NY. If it is, then I don't feel sorry for the retirees if they will only pull $3,000 a month like most of the rest of the country. It is time to face reality. Those kind of payouts (along with early retirement ages) are a large part of the problem.

The guys still in Central States are looking at 50 to 70% cuts in pension pay that was already half what the guys out east were getting.
 

By The Book

Well-Known Member
The pension system is dying. Feel bad for all the people who retired and counted on having a pension.
The retirees are safer than the contributors. The fund managers will just lower the accrual rate and raise the age requirement. That way the ones retired already are not part of the equation. They did that out west to make it over 90% funded. They only lowered the accrual rate, basically promising a smaller pension to the future retirees.
 
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