Home
Forums
New posts
Search forums
What's new
New posts
Latest activity
Members
Current visitors
Log in
Register
What's new
Search
Search
Search titles only
By:
New posts
Search forums
Menu
Log in
Register
Install the app
Install
Home
Forums
Brown Cafe UPS Forum
UPS Union Issues
contract priorities
JavaScript is disabled. For a better experience, please enable JavaScript in your browser before proceeding.
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an
alternative browser
.
Reply to thread
Message
<blockquote data-quote="wkmac" data-source="post: 101755" data-attributes="member: 2189"><p>Tie,</p><p>You're right about us having to push the union towards the 401k match but I'd take it one step closer. A letter to Hoffa, Hall and your union Local on this would be well served at least to the point of expressing your feelings on the matter but I'd "CC" Eskew as well. Even if 70% of the UPS union membership requested this in writting to the union only, I'm not sure that the union would follow through. Remember, they don't just have UPSers at stake here but also other union companies. They will sacrifice the better for us specifically in order to make the larger collective survive. </p><p> </p><p>For someone like myself, the 401k would be a huge win but for those who have never availed themselves of this option will pay dearly in trying to play catch up if they are in their late 40's to early 50's. Those in their 20's or 30's already looking at 30 plus years to go, this will be an excellent opportunity to make big bucks in the longhaul without having to invest in higher risks trying to chase bigger returns. If we could get a 12% match and the employee put in 12% with a 5% return over 30 years, I think the math would suggest a nice pot of money. Much has been said about what APWA is suggesting in the way of retirement and the way I read this, APWA will in fact set up individual accounts for each member in much the same way as a 401k works. When you start working out the scenarios using the current monies paid in and the returns on investment I can see the $7k per month. What I challenge is the rate of return even over time. I think that figure should come down some to a more modest, less risky figure which would still grant us a better monthly check than what we get now. </p><p> </p><p>I also think that if my understanding of APWA's approach on this is true, meaning individual accounts, then we also should be afforded a kind of menu option where you can choose a payout schedule where you can take less per month growing your pot even higher while being in retirement and then say in years ahead you needed nursing home care or assisted living care, you could then opt for a higher monthly pension to either cover or help cover those costs. Even if you never needed this and your account grew and you passed on, your heirs would enjoy the fruits of your labor. As I see the APWA deal, it really is a type of collective 401k plan but I'd still rather have my own from start to finish. But I still applaud the APWA tinking and effort.</p><p> </p><p></p><p> </p><p>No arguement from me on that one Cezanne!</p><p> </p><p></p><p> </p><p>Not to mention that once we leave we have no more strings attached and we're free to do as we please. In other words, no bigger brother saying, "you can't work that job and get a pension check from us!"</p></blockquote><p></p>
[QUOTE="wkmac, post: 101755, member: 2189"] Tie, You're right about us having to push the union towards the 401k match but I'd take it one step closer. A letter to Hoffa, Hall and your union Local on this would be well served at least to the point of expressing your feelings on the matter but I'd "CC" Eskew as well. Even if 70% of the UPS union membership requested this in writting to the union only, I'm not sure that the union would follow through. Remember, they don't just have UPSers at stake here but also other union companies. They will sacrifice the better for us specifically in order to make the larger collective survive. For someone like myself, the 401k would be a huge win but for those who have never availed themselves of this option will pay dearly in trying to play catch up if they are in their late 40's to early 50's. Those in their 20's or 30's already looking at 30 plus years to go, this will be an excellent opportunity to make big bucks in the longhaul without having to invest in higher risks trying to chase bigger returns. If we could get a 12% match and the employee put in 12% with a 5% return over 30 years, I think the math would suggest a nice pot of money. Much has been said about what APWA is suggesting in the way of retirement and the way I read this, APWA will in fact set up individual accounts for each member in much the same way as a 401k works. When you start working out the scenarios using the current monies paid in and the returns on investment I can see the $7k per month. What I challenge is the rate of return even over time. I think that figure should come down some to a more modest, less risky figure which would still grant us a better monthly check than what we get now. I also think that if my understanding of APWA's approach on this is true, meaning individual accounts, then we also should be afforded a kind of menu option where you can choose a payout schedule where you can take less per month growing your pot even higher while being in retirement and then say in years ahead you needed nursing home care or assisted living care, you could then opt for a higher monthly pension to either cover or help cover those costs. Even if you never needed this and your account grew and you passed on, your heirs would enjoy the fruits of your labor. As I see the APWA deal, it really is a type of collective 401k plan but I'd still rather have my own from start to finish. But I still applaud the APWA tinking and effort. No arguement from me on that one Cezanne! Not to mention that once we leave we have no more strings attached and we're free to do as we please. In other words, no bigger brother saying, "you can't work that job and get a pension check from us!" [/QUOTE]
Insert quotes…
Verification
Post reply
Home
Forums
Brown Cafe UPS Forum
UPS Union Issues
contract priorities
Top