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UPS Union Issues
UPS EMPLOYEES START NEW UNION!
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<blockquote data-quote="my2cents" data-source="post: 55382"><p>Overall, I'm with wkmac on the portability of the 401(k). Having said that, I believe the standard pension has more popular appeal with the employee. One type of pension I'm interested in is those relatively new "cash balance plans," which offer portability if one decides to move on to another employer. From what I understand, these balances can be rolled over. On the other hand, I'm also familiar with the IBM and Xerox cases brought by employees who allege these plans discriminate against older workers having longevity with the company. Somehow the payouts worked out to be less when they accepted the cash balance plan. Before I would jump on the cash balance plan bandwagan however, I would have to learn much more about them. I believe the long time IBM employees ended up with some extra cash as a result of their settement agreement. Anyway, just another alternative to consider in this debate. </p><p> </p><p>BTW, thanks for the kind words OK2BC. Made my day. </p><p> </p><p>(Message edited by my2cents on February 19, 2005)</p></blockquote><p></p>
[QUOTE="my2cents, post: 55382"] Overall, I'm with wkmac on the portability of the 401(k). Having said that, I believe the standard pension has more popular appeal with the employee. One type of pension I'm interested in is those relatively new "cash balance plans," which offer portability if one decides to move on to another employer. From what I understand, these balances can be rolled over. On the other hand, I'm also familiar with the IBM and Xerox cases brought by employees who allege these plans discriminate against older workers having longevity with the company. Somehow the payouts worked out to be less when they accepted the cash balance plan. Before I would jump on the cash balance plan bandwagan however, I would have to learn much more about them. I believe the long time IBM employees ended up with some extra cash as a result of their settement agreement. Anyway, just another alternative to consider in this debate. BTW, thanks for the kind words OK2BC. Made my day. (Message edited by my2cents on February 19, 2005) [/QUOTE]
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