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UPS Retirement Topics
APWA Pension Challenge
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<blockquote data-quote="mittam" data-source="post: 186786" data-attributes="member: 1223"><p>We have already lost it krash, yes it is mismanaged, very much so. It is ran as social security is ran and that cannot last it eventually will be overdrawn from all the retirees. The funds need to be for individuals, as UPS puts the money in each person will be credited for their part of the deposits. Then with the compound interest the funds will grow as that interest is put back into the funds, the teamsters funds have the interest skimmed off of it and that leads to the fund not paying for itself. Plus with all those that pass away early into retirement and those that do not retire whether it be from firing, quitting or whatever the case may be the money is supposed to be put back into the funds, if that were being done correctly the fund would not be in trouble. Now the APWA will only have one retirement, for anyone regardless of how many positions one may hold, if you want your pension back take the 2 or 3 pensions away from the teamster officials, you will have a better chance at a glass of ice water in hell before they give up one of their multiple pensions while they are screwing you of your one measly pension. It is really time here for people to wake up take a good long hard look at everything going on, don't rush yourself to say you are changing over or staying with the current union, sit back open up take a good long hard look and decide what is best for you and your family, then make an informed choice.</p></blockquote><p></p>
[QUOTE="mittam, post: 186786, member: 1223"] We have already lost it krash, yes it is mismanaged, very much so. It is ran as social security is ran and that cannot last it eventually will be overdrawn from all the retirees. The funds need to be for individuals, as UPS puts the money in each person will be credited for their part of the deposits. Then with the compound interest the funds will grow as that interest is put back into the funds, the teamsters funds have the interest skimmed off of it and that leads to the fund not paying for itself. Plus with all those that pass away early into retirement and those that do not retire whether it be from firing, quitting or whatever the case may be the money is supposed to be put back into the funds, if that were being done correctly the fund would not be in trouble. Now the APWA will only have one retirement, for anyone regardless of how many positions one may hold, if you want your pension back take the 2 or 3 pensions away from the teamster officials, you will have a better chance at a glass of ice water in hell before they give up one of their multiple pensions while they are screwing you of your one measly pension. It is really time here for people to wake up take a good long hard look at everything going on, don't rush yourself to say you are changing over or staying with the current union, sit back open up take a good long hard look and decide what is best for you and your family, then make an informed choice. [/QUOTE]
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