Why can't I look forward to retirement?

Discussion in 'UPS Union Issues' started by Concretion, Feb 23, 2016.

  1. Concretion

    Concretion New Member

    Retirement plans are in danger of temporary, permanent federal cuts

    Central States Pension Fund, which represents 49 companies including Kroger and UPS, submitted its paperwork Sept. 25 and cuts will take effect July 1. Nearly $2.2 billion and the pensions of 24,625 Texans provided by Central States are at risk.

    Friedman said the issue can be slowed by lawsuits and the treasury, but only Congress can fix it.
  2. Jones

    Jones fILE A GRIEVE! Staff Member

    Imagine if we took all the money we're wasting waging an endless war in the middle east and used it to provide financial security for working people here in the USA. Probably have enough left over to send all their kids to college as well.
    • Winner Winner x 8
    • Like Like x 5
    • Agree Agree x 5
    • List
  3. Start pumping up your 401k.
    • Agree Agree x 4
    • Winner Winner x 1
    • List
  4. Gloom and doom for many of us. We got to take some responsibility for ourselves.
    • Like Like x 3
    • Agree Agree x 1
    • Winner Winner x 1
    • Informative Informative x 1
    • List
  5. barnyard

    barnyard KTM rider Staff Member

    I believe that I was in HS when the airlines said they would be bankrupted by their pensions. Guaranteed benefit pensions are not sustainable, anyone that thinks they are, needs to retake grade school math.
  6. Overpaid Union Thug

    Overpaid Union Thug Eva Mendez Has A Nice (_!_)

    That combined with the money wasted on handouts for Americans, legal and illegal aliens, and to countries that hate us would be enormous. Wars, social experiments, and charity can be rather expensive.
    • Agree Agree x 3
    • Like Like x 2
    • List
  7. realbrown1

    realbrown1 Annoy a liberal today. Hit them with facts.

    Since when is it the government's job to fix private union pension plans that have failed?

    Other than the government's insurance plan as a safety net to protect against total collapse, it is fantasyland to think they should bail out private pensions.
  8. anHOURover

    anHOURover Active Member

    ..... Because of Jimmy and dance hall running this union into the ground ... FACT
    • Agree Agree x 1
    • Funny Funny x 1
    • List
  9. 3 done 3 to go

    3 done 3 to go In control of my own destiny

    The Multi employer pensions needs to go. Each company should be responsible for their own. Or just give the monies to me. So I can invest myself. Stop giving money to political parties who really don't help. Only sell out.
    • Agree Agree x 5
    • Winner Winner x 1
    • List
  10. Amen
  11. 3 done 3 to go

    3 done 3 to go In control of my own destiny

    Where are the OG and TDU now? They can't fix it either. I don't see it
  12. It's ugly brother.
  13. beavis

    beavis Member

  14. rod

    rod retired and happy

    It wasn't their job to bail out every 3 piece suit on Wall Street or 2 of the 3 big auto makers or half of the banking institutions in the USA ------------------------------------------------------------but they did.
    • Agree Agree x 3
    • Like Like x 1
    • List
  15. Monkey Butt

    Monkey Butt You can call me Chappy Staff Member

    Or pay down the debt.
  16. Bubblehead

    Bubblehead My Senior Picture

    We all claim to love our children, and what's not to love, as we live exalted the fruits of their future labors.
  17. PiedmontSteward

    PiedmontSteward RTW-4-Less

    Since when is it it the government's job to bail out private equity banks that gambled with other peoples' money?

    A lot of pension funds were tied up in the subprime mortgage cluster:censored2:. Granted, Central States was already bleeding out but '08 just hastened it along. Thanks again, Jimmy Carter!
  18. realbrown1

    realbrown1 Annoy a liberal today. Hit them with facts.

    It's not the government's job to bail out private equity banks.

  19. realbrown1

    realbrown1 Annoy a liberal today. Hit them with facts.

    I like the matching 401K plan.

    I have just over 6 figures in my with just 1% to 3% contributions out of my paycheck every week for just under 30 years.

    Can you imagine if UPS matched say 8%?

    I would have put 8% into my 401K plan to get the full match.

    It would cost UPS less than what they are paying into our pensions and we would be millionaires after 30 to 35 years with the company with the full 8% match.

    And you would not have to worry about it going bankrupt and cutting payouts by 60% to 70% like some multi-employer pension plans.
    • Winner Winner x 4
    • Like Like x 2
    • List
  20. olroadbeech

    olroadbeech Happy Verified UPSer

    someone should go to prison over this. it is criminal.