brainwashed
New Member
What is going on? Is the big BAD brown going to get rid of the retirement plan??? I believe so. Anyone heard anything? You can no longer figure out your pension when you retire, but you can with your 401K. Makes one wonder.
I heard that ups is going to offer another early retirement package in 2009. Has anyone else heard anything about this? Also does anyone know anything about the early buyout options?
thanks for the help
I heard that ups is going to offer another early retirement package in 2009. Has anyone else heard anything about this? Also does anyone know anything about the early buyout options?
thanks for the help
Brainwashed, I posted earlier this week on the subject. I titled my post 401k vs pension. If you read the post then you know I think the pension fund will be phased out in the next 10-20 years.
In my opinion this may not be a bad thing as long as UPS can give us a match instead of a pension contribution. If your 21 years old and you contribute the max that the IRS allows( I believe it was 15,000 in 2006) for the next 30 years at 10% growth, you'll be very wealthy and will be able to retire more comfortably than under the UPS pension plan.
On the other hand, if you do this and the pension plan is still in existence when you retire, you will be able to afford your children a great education and a nice inheritence.
So plan for the worse and the best just might happen
I'm going to lose half my pension overnight - the day the judge signs my divorce decree. I've given up on my old retirement plans. Any rich woman out there who who wants to marry a divorced UPS man with a 27 lb cat?One of the problems with this is that, as we all have learned the very hard way, you can LOSE half of your pension overnight. Half of your total next egg could be gone in a blink of an eye.
True you could put in all in bonds and bond funds, ect. ect. but then you wont get anywhere near that mythical 10% return year after year.
I still believe in a good 401k plan. I wish our plan was better with more options ( specific funds and specific options). I also wish we had a ROTH 401k option.
One of the problems with this is that, as we all have learned the very hard way, you can LOSE half of your pension overnight. Half of your total next egg could be gone in a blink of an eye.
True you could put in all in bonds and bond funds, ect. ect. but then you wont get anywhere near that mythical 10% return year after year.
I still believe in a good 401k plan. I wish our plan was better with more options ( specific funds and specific options). I also wish we had a ROTH 401k option.
I heard that ups is going to offer another early retirement package in 2009. Has anyone else heard anything about this? Also does anyone know anything about the early buyout options?
thanks for the help
Interesting. My source, District Manager level, contradicts what you are saying. The EBO will be 53 and over.
We will see.
Management or union?Interesting. My source, District Manager level, contradicts what you are saying. The EBO will be 53 and over.
We will see.
Big,I'm going to lose half my pension overnight - the day the judge signs my divorce decree. I've given up on my old retirement plans. Any rich woman out there who who wants to marry a divorced UPS man with a 27 lb cat?
I think a potable plan would go skunky before you could drink it all.guess I'll miss this plan too. I personally would love to have a potable retirement plan supplemented with a six percent match on the 401 K. But I don't think the buyout would be overly generous under todays conditions.