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UPS Discussions
Central states pensioners, please read!
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<blockquote data-quote="JonFrum" data-source="post: 517761" data-attributes="member: 18044"><p>P-Man, </p><p> </p><p>The Single- and Mulit-Employer Pension Plans UPSers are in are DEFINED BENEFIT plans.</p><p> </p><p>The 401(k) plans are DEFINED CONTRIBUTION plans.</p><p> </p><p>What confuses everyone is that both types of plans have contributions <u>and</u> benefits, so the legal terms are hard to keep straight.</p></blockquote><p></p>
[QUOTE="JonFrum, post: 517761, member: 18044"] P-Man, The Single- and Mulit-Employer Pension Plans UPSers are in are DEFINED BENEFIT plans. The 401(k) plans are DEFINED CONTRIBUTION plans. What confuses everyone is that both types of plans have contributions [U]and[/U] benefits, so the legal terms are hard to keep straight. [/QUOTE]
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