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What is your guess for MIP?
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<blockquote data-quote="Catatonic" data-source="post: 989612" data-attributes="member: 7966"><p>If you had read the preceding posts, you would have understood the context but ....</p><p>for once, I feel like I am getting to inform you on something! </p><p></p><p>I think the ratio is something like <strong>P-man</strong> -100 to <strong>Hoax</strong> - 1</p><p></p><p>Go to UPSers.com</p><p>Select "My Life and Career"</p><p>Use left nav link to Navigate to Total Rewards</p><p>In Total Rewards select "My Wealth Today"</p><p>See the item labeled "UPS Retirement Plan Present Value"</p><p></p><p>The value you see to the right is essentially your expected Buyout <em><strong>if and when</strong></em> UPS decides to "Buyout the UPS Retirement Plan".</p><p></p><p>If you click on the <span style="color: #0000ff">"little Blue question mark inside the box"</span> you will see the following.</p><p> The present value shown is the estimated amount UPS needs to set aside today to pay your accrued benefit at your Normal Retirement Date (generally age 65). </p><p>Your accrued benefit is based on your earnings and service through the date shown. </p><p>The present value is based on the following assumptions: </p><ul> <li data-xf-list-type="ul">The benefit valued is your accrued benefit, with monthly payments starting at your Normal Retirement Date for your lifetime. </li> <li data-xf-list-type="ul">Interest of <strong><span style="color: #ff0000">6%</span></strong> per year is earned from now until your benefit has been paid. </li> <li data-xf-list-type="ul">A group annuity mortality assumption is included to determine the length of your retirement </li> </ul><p></p><p>The<span style="color: #ff0000"><strong> 6%</strong></span> is the crux of the issue because available lifetime annuities will only replace approximately 40% of your UPS Monthly pension payments.</p><p>In 2007, you could take this amount and lock in a lifetime annuity to actually replace your UPS Pension payments.</p><p>I helped my sister set her's up in 2007 when annuity returns were in the 6 - 6.25 range. She worked for Michelin and they bought out their employee pensions.</p><p></p><p>Of course, I do not have inside information.</p><p>It is however a Risk to be managed and when considering events that may trigger a buyout, the upcoming Teamster contract is certainly one that could.</p><p>This decision will be decided by the Board of Directors.</p><p>Hopefully this will not ever happen but I've learned over the last 15 years to never assume "Never".</p><p>UPS is one of the few companies still maintaining a pension, and as we know, it has been eliminated for newly hired non-management employees.</p><p></p><p>PS - Print out the "UPS Retirement Plan Present Value" page and see if your Financial planner increases the recommendation that you retire ASAP.</p><p>That's what I did and that was my financial adviser's recommendation.</p></blockquote><p></p>
[QUOTE="Catatonic, post: 989612, member: 7966"] If you had read the preceding posts, you would have understood the context but .... for once, I feel like I am getting to inform you on something! I think the ratio is something like [B]P-man[/B] -100 to [B]Hoax[/B] - 1 Go to UPSers.com Select "My Life and Career" Use left nav link to Navigate to Total Rewards In Total Rewards select "My Wealth Today" See the item labeled "UPS Retirement Plan Present Value" The value you see to the right is essentially your expected Buyout [I][B]if and when[/B][/I] UPS decides to "Buyout the UPS Retirement Plan". If you click on the [COLOR=#0000ff]"little Blue question mark inside the box"[/COLOR] you will see the following. The present value shown is the estimated amount UPS needs to set aside today to pay your accrued benefit at your Normal Retirement Date (generally age 65). Your accrued benefit is based on your earnings and service through the date shown. The present value is based on the following assumptions: [LIST] [*]The benefit valued is your accrued benefit, with monthly payments starting at your Normal Retirement Date for your lifetime. [*]Interest of [B][COLOR=#ff0000]6%[/COLOR][/B] per year is earned from now until your benefit has been paid. [*]A group annuity mortality assumption is included to determine the length of your retirement [/LIST] The[COLOR=#ff0000][B] 6%[/B][/COLOR] is the crux of the issue because available lifetime annuities will only replace approximately 40% of your UPS Monthly pension payments. In 2007, you could take this amount and lock in a lifetime annuity to actually replace your UPS Pension payments. I helped my sister set her's up in 2007 when annuity returns were in the 6 - 6.25 range. She worked for Michelin and they bought out their employee pensions. Of course, I do not have inside information. It is however a Risk to be managed and when considering events that may trigger a buyout, the upcoming Teamster contract is certainly one that could. This decision will be decided by the Board of Directors. Hopefully this will not ever happen but I've learned over the last 15 years to never assume "Never". UPS is one of the few companies still maintaining a pension, and as we know, it has been eliminated for newly hired non-management employees. PS - Print out the "UPS Retirement Plan Present Value" page and see if your Financial planner increases the recommendation that you retire ASAP. That's what I did and that was my financial adviser's recommendation. [/QUOTE]
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