Retirement Package for Management?
- Thread starter brown8207
- Start date
upssalesguy
UPS Defender
not heard a thing, but I'm sure some changes will ultimatly come down.
I'm hoping I and others get grandfathered. without health care, it really diminishes my desire to put in 30 years.
I'm hoping I and others get grandfathered. without health care, it really diminishes my desire to put in 30 years.
Here we go again.Time to start retirement rumors. It is that time of year again. I heard,from Feeder Drivers out of Chicago,that something was coming that would impact both management and hourly over 55.
One must admit that the feeder driver network does have a way of getting a heads up on stuff coming down the pipeline before some of us hear about it.
One must admit that the feeder driver network does have a way of getting a heads up on stuff coming down the pipeline before some of us hear about it.
FracusBrown
Ponies and Planes
One word comes to mind. It starts with "les" and rhymes with guess. The alternate rhymes with lewd. Just a hunch.
I heard that it will be a buy out for supervisors over 55 with the same offer as the buy out last year for managers and up. one years pay and stock as incentive. considering the odd management goals its probably a good idea to cut these people loose before they die on the job.
upssalesguy
UPS Defender
i was talking to my manager today and we both agreed if they cut retirement benefits OR the pension - it's much easier to sell at another company. it sucks, but that's the reality.
Catatonic
Nine Lives
could is the more correct word to use here. It depended on where they were and if another job was available in that area.
Would definitely applied to some.
menotyou
bella amicizia
I heard 'would'. When I was still going to the airport, (I know this will shock some) a very nice man named 'G' was promoted to building manager there. It lasted 2 months. The big manager cut occurred and 'G' disappeared. Our Division manager decided he wanted the airport.
Anonymous 10
Guest
Yea I heard something about this.
beentheredonethat
Well-Known Member
They have already made changes over the years to our retirement package. For health care, they capped the total dollar amount they will contribute to health care each year. For newer mgmt folks, they changed the plan from a defined benefit to a defined contribution. A defined contribution is one where they will put in a certain dollar amount per year based on a variety of factors and it acts almost like another 401K, but one that is funded by the company. If you leave, you get to take it with you, if the market does fantastic, you benefit. However, if the market has a large downturn, you have to deal with the consequences. The company does not have that liability as they do with the traditional pension for mgmt.
That being said, I'm sure that there will be other changes made. I find it hard to believe that UPS will keep the early retirement option of 55. I'm assuming that it will change to at least 2 years and probably 4 years later. But, that's just an assumption, I haven't heard any rumors to this effect.
packageguy
Well-Known Member
UPS will not spend money on buy outs, they just will find away to get you out. That my story and i'm sticking with it. lol
Catatonic
Nine Lives
There was one in 2007 too.
