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Brown Cafe UPS Forum
UPS Retirement Topics
Pension Offer is B $%#@
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<blockquote data-quote="Inthegame" data-source="post: 2604656" data-attributes="member: 37112"><p>And the key phrase there is "30 and out". Few plans anticipated the "and out" demand members put forth. Almost every pension plan started with an age 65 requirement for an unreduced benefit. A 30 year payout of $4000 per month from age 50 through 80 is exactly the same outlay as a $8000 per month payout from 65 to 80, but instead of investible principle for those 15 years, the funds are paying out benefits. Adding "early retirees" is an unplanned stress that has put some plans in tough shape.</p><p></p><p>If I told guys they'd get a $4000 per month pension thirty years ago they'd say what you just said. And yet many are getting more than $4000 per month.</p><p></p><p>But I suppose with members continuing to support political candidates that seek to destroy unions, you might be right. With no one left to negotiate future contracts, you'll get the crumbs the corporate masters allow.</p></blockquote><p></p>
[QUOTE="Inthegame, post: 2604656, member: 37112"] And the key phrase there is "30 and out". Few plans anticipated the "and out" demand members put forth. Almost every pension plan started with an age 65 requirement for an unreduced benefit. A 30 year payout of $4000 per month from age 50 through 80 is exactly the same outlay as a $8000 per month payout from 65 to 80, but instead of investible principle for those 15 years, the funds are paying out benefits. Adding "early retirees" is an unplanned stress that has put some plans in tough shape. If I told guys they'd get a $4000 per month pension thirty years ago they'd say what you just said. And yet many are getting more than $4000 per month. But I suppose with members continuing to support political candidates that seek to destroy unions, you might be right. With no one left to negotiate future contracts, you'll get the crumbs the corporate masters allow. [/QUOTE]
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