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Rule of 62 True
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<blockquote data-quote="wkmac" data-source="post: 101295" data-attributes="member: 2189"><p>I know my coming comment will provoke the usual tripe from both sides but here goes anyway.</p><p> </p><p>Since 97', the issue of pension has been a hot and getting hotter topic between management and union hourly. IMO management has every right to gloat and issue the "shutup and sitdown, you missed your chance" comments we so often hear on this subject when it involves union FT folk and to be honest they are in some ways right.</p><p> </p><p>However, since that timeframe we've also heard that had we taken the deal that <strong>we'd be set</strong>, <strong>30 and out any age</strong>, <strong>big money</strong>, etc. etc. etc. Now there has been nothing official that I know of announcing what the browntruth posted and it could very well just be a <em>"let's stir em' up"</em> deal but I have heard this very topic circulating amongst the talk of many a management person and the old adage, <strong>"where there's smoke, there's usually fire!"</strong></p><p> </p><p>With that said and going into the early talks with the union on the 08' contract where the pension will be a hot topic, I just find the timing of the bean counters to be just aweful. I can see where the union apologist will be wailing, <strong>"see where you'd be if you would have took there deal!" </strong>In one sense that may be correct but how many like me are already looking at working till 62' anyway just in the hope of lightening the load as it pertains to the insurance coverage premuim one has to pay in retirement. Not heard yet if that will change for management. Also management gets to work anywhere they so desire in retirement whereas we are very limited on a declining scale and the decline only comes as you get older which limits the potential of a 2nd and very different career if you so choose. So even with those factors when placed side by side, IMO it weights a little to the company side.</p><p> </p><p>If they do make this move to 62 as browntruth and I've heard others not of Browncafe say is coming, it again just points to the fact that this company has come to following the pack on Wall Street and just chasing a number. UPS was once a hardnosed, tough place to work but come thick or thin, you felt pretty good about you future and you'd never ever hear of management getting shortchanged and even though I was never in that position I did feel some sense of security when you cut through all the company/union gobidee gook that things would be handled and you'd come out OK. That secure feeling has left me now and if this turns out to be true it just re-enforces my belief. Going into this upcoming contract and watching what may be a very important time for all, I just think this is the absolute wrong message to be sending. But then, over the last 15 years UPS seems to have a habit of shooting off it's nose in spite of it's face!</p><p> </p><p>The 401k may be a risk and as some suggest a defined benefit but is it? You gotta think a little and not be risk adverse to understand from where I ask that question from. The bottomline in the present situation is which <strong>"hounds of hell" </strong>do you want controlling your retirement future? UPS or IBT! I say fire em' both, roll the lumpsum and let's go 401k. </p><p> </p><p>Thanks to both UPS and IBT over the last several years of making my arguement for this move easier and easier. Keep up the outstanding work. Let's not be afraid to take a few steps off the UPS/IBT Plantation because as we go just a little further each time we may begin to see at somepoint that we don't need to go back at all. That is really what both sides fear the most!</p><p> </p><p>JMHO</p></blockquote><p></p>
[QUOTE="wkmac, post: 101295, member: 2189"] I know my coming comment will provoke the usual tripe from both sides but here goes anyway. Since 97', the issue of pension has been a hot and getting hotter topic between management and union hourly. IMO management has every right to gloat and issue the "shutup and sitdown, you missed your chance" comments we so often hear on this subject when it involves union FT folk and to be honest they are in some ways right. However, since that timeframe we've also heard that had we taken the deal that [B]we'd be set[/B], [B]30 and out any age[/B], [B]big money[/B], etc. etc. etc. Now there has been nothing official that I know of announcing what the browntruth posted and it could very well just be a [I]"let's stir em' up"[/I] deal but I have heard this very topic circulating amongst the talk of many a management person and the old adage, [B]"where there's smoke, there's usually fire!"[/B] With that said and going into the early talks with the union on the 08' contract where the pension will be a hot topic, I just find the timing of the bean counters to be just aweful. I can see where the union apologist will be wailing, [B]"see where you'd be if you would have took there deal!" [/B]In one sense that may be correct but how many like me are already looking at working till 62' anyway just in the hope of lightening the load as it pertains to the insurance coverage premuim one has to pay in retirement. Not heard yet if that will change for management. Also management gets to work anywhere they so desire in retirement whereas we are very limited on a declining scale and the decline only comes as you get older which limits the potential of a 2nd and very different career if you so choose. So even with those factors when placed side by side, IMO it weights a little to the company side. If they do make this move to 62 as browntruth and I've heard others not of Browncafe say is coming, it again just points to the fact that this company has come to following the pack on Wall Street and just chasing a number. UPS was once a hardnosed, tough place to work but come thick or thin, you felt pretty good about you future and you'd never ever hear of management getting shortchanged and even though I was never in that position I did feel some sense of security when you cut through all the company/union gobidee gook that things would be handled and you'd come out OK. That secure feeling has left me now and if this turns out to be true it just re-enforces my belief. Going into this upcoming contract and watching what may be a very important time for all, I just think this is the absolute wrong message to be sending. But then, over the last 15 years UPS seems to have a habit of shooting off it's nose in spite of it's face! The 401k may be a risk and as some suggest a defined benefit but is it? You gotta think a little and not be risk adverse to understand from where I ask that question from. The bottomline in the present situation is which [B]"hounds of hell" [/B]do you want controlling your retirement future? UPS or IBT! I say fire em' both, roll the lumpsum and let's go 401k. Thanks to both UPS and IBT over the last several years of making my arguement for this move easier and easier. Keep up the outstanding work. Let's not be afraid to take a few steps off the UPS/IBT Plantation because as we go just a little further each time we may begin to see at somepoint that we don't need to go back at all. That is really what both sides fear the most! JMHO [/QUOTE]
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