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UPS Retirement Topics
401k vs pension
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<blockquote data-quote="wkmac" data-source="post: 88325" data-attributes="member: 2189"><p>A number of good points made by all and as others have said, there's no perfect solution out there. Personally, I'd like to work after leaving UPS but the current conditions although better than they were a couple of years ago make that decision somewhat difficult, not impossible but just difficult. I'd like to see this part of the equation change. </p><p> </p><p>One of the most attractive parts for example of a company run plan is at present and in the past, the company seemed to have no interest what you did after retirement other than to have an address of where to send the monthly check. However like all things this too could change at any time. 401k's have this same attraction but go one step further in that they have some portibility and you can carry them to another empolyer and continue to place monies in them. Many folks with a number of years service but still lacking enough time to retire will stay in a horrible environment just because of the retirement. Employers know and some have seen firsthand where if this is not a part of the equation that the ease for an employee to go elsewhere increases dramatically and in many case they do bolt when the time necessity appears. Not always a bad thing but not always a good thing either.</p><p> </p><p>25 years ago when I came to work for UPS I wasn't thinking that much about retirement as that seemed so far away but in the following years I did give it more thought and all seemed in great shape. In fact 10 plus years ago it was looking like my 401k money would end up being my travel and goof off money but my how all that has changed. I truly believe the best thing we can do for ourselves, especially if covered by a Teamster plan is to push and push hard to vastly reduce if not totally eliminate any and all work restrictions because I honestly believe seeking some type of employment after UPS will be a must to supplement our incomes especially in light of what is happening with medicare and rising medical costs. Besides I'd like to stay attactive and keep my mind challenged as I do think this is a key to long life. Sitting at home and gathering moss is not my idea of the good life but I'm more and more convinced that the powers that be want this because they know this also leads to early death and thus their liability will die with me.</p><p> </p><p>JMO.</p></blockquote><p></p>
[QUOTE="wkmac, post: 88325, member: 2189"] A number of good points made by all and as others have said, there's no perfect solution out there. Personally, I'd like to work after leaving UPS but the current conditions although better than they were a couple of years ago make that decision somewhat difficult, not impossible but just difficult. I'd like to see this part of the equation change. One of the most attractive parts for example of a company run plan is at present and in the past, the company seemed to have no interest what you did after retirement other than to have an address of where to send the monthly check. However like all things this too could change at any time. 401k's have this same attraction but go one step further in that they have some portibility and you can carry them to another empolyer and continue to place monies in them. Many folks with a number of years service but still lacking enough time to retire will stay in a horrible environment just because of the retirement. Employers know and some have seen firsthand where if this is not a part of the equation that the ease for an employee to go elsewhere increases dramatically and in many case they do bolt when the time necessity appears. Not always a bad thing but not always a good thing either. 25 years ago when I came to work for UPS I wasn't thinking that much about retirement as that seemed so far away but in the following years I did give it more thought and all seemed in great shape. In fact 10 plus years ago it was looking like my 401k money would end up being my travel and goof off money but my how all that has changed. I truly believe the best thing we can do for ourselves, especially if covered by a Teamster plan is to push and push hard to vastly reduce if not totally eliminate any and all work restrictions because I honestly believe seeking some type of employment after UPS will be a must to supplement our incomes especially in light of what is happening with medicare and rising medical costs. Besides I'd like to stay attactive and keep my mind challenged as I do think this is a key to long life. Sitting at home and gathering moss is not my idea of the good life but I'm more and more convinced that the powers that be want this because they know this also leads to early death and thus their liability will die with me. JMO. [/QUOTE]
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