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Brown Cafe UPS Forum
UPS Union Issues
Bye Bye Pension and Hello to matching 401k coming in 2023?
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<blockquote data-quote="CoffeeStainedUniform" data-source="post: 3726749" data-attributes="member: 73423"><p>457s are differed comp...and can be invested in a wide range of investment options. Pensions are restricted much more heavily and barely make more than inflation on average. They produce less per dollar, pay out only if you live long enough, and are not inheritable. Our pensions are worthless if UPS goes belly up...stock market crashing would be every major company in the country.</p><p></p><p>The reason we do them is simply because it keeps employees to a 30 year contract. That's it, there is no other benefit.</p></blockquote><p></p>
[QUOTE="CoffeeStainedUniform, post: 3726749, member: 73423"] 457s are differed comp...and can be invested in a wide range of investment options. Pensions are restricted much more heavily and barely make more than inflation on average. They produce less per dollar, pay out only if you live long enough, and are not inheritable. Our pensions are worthless if UPS goes belly up...stock market crashing would be every major company in the country. The reason we do them is simply because it keeps employees to a 30 year contract. That's it, there is no other benefit. [/QUOTE]
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Bye Bye Pension and Hello to matching 401k coming in 2023?
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