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Brown Cafe UPS Forum
UPS Retirement Topics
Pension letter
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<blockquote data-quote="Ms.PacMan" data-source="post: 2100448" data-attributes="member: 4656"><p>Worst decision ever - we had a driver who was jizzed by the stock market booming and spooked by the new pension plan and retired in 2007. He said he trusted the Teamsters more than UPS and things were turning around! </p><p></p><p></p><p></p><p>One of the supervisors at the USPS put all his 401k money into cash in Nov.2007 (this is why I remember that month so well). He said he had an overwhelming 'it's too good to be true feeling' and because he was 2 yrs from retirement he didn't want to risk a loss. He also quit contributing. He's still happy with that decision and he's still working because he wants to. He had about 30k more than I did saved at the time - I have 4 times the amount I did then. That was a huge lesson for me.</p></blockquote><p></p>
[QUOTE="Ms.PacMan, post: 2100448, member: 4656"] Worst decision ever - we had a driver who was jizzed by the stock market booming and spooked by the new pension plan and retired in 2007. He said he trusted the Teamsters more than UPS and things were turning around! One of the supervisors at the USPS put all his 401k money into cash in Nov.2007 (this is why I remember that month so well). He said he had an overwhelming 'it's too good to be true feeling' and because he was 2 yrs from retirement he didn't want to risk a loss. He also quit contributing. He's still happy with that decision and he's still working because he wants to. He had about 30k more than I did saved at the time - I have 4 times the amount I did then. That was a huge lesson for me. [/QUOTE]
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