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UPS Retirement Topics
Has IBT/CS been a wise steward of our pension?
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<blockquote data-quote="wkmac" data-source="post: 52908"><p>ok2bc, </p><p>I also agree the 7.5% figure is a little to high to expect from such a large fund. With an individual in a self managed 401 or IRA a 7.5% over time I think is achieveable but a large fund requires to much liquidity and therefore harder to get those higher results but that's just my opinion. That said however I do believe the charge of not being good stewards is a fair claim but to also be fair it may have more to do with the current nature of the entire situation rather than bad investing specifically although this may not be entirely void in the current situation. </p><p> </p><p>As to the rumor of the pay freeze/pension buyout. I'm not so certain this isn't more an issue of pipedreaming and what if's rather than reality. First off, there is a labor agreement calling for specific performance by both sides and to void this part pertaining to pension I have to ask this. Can the union leadership on it's own agree to this with the company and have this take place or does it require memebership approval in the way of a revised contract? Is there something in the labor law that allows UPS in concert with it's IBT represented employees to circumvent the union leadership if some form of wrong or improper action on the part of IBT is found to harm the represented employees? Also, will the $4 bil set CS and the other pension plans on strong course and will it strengthen the union? I believe unless you can do what I asked in that last question you'll never get the IBT to go along. I'm also not convinced that labor law allows the pay freeze/ pension buyout to take place as easily as some suggest. </p><p> </p><p>It's no secret I'm not a big fan of CS nor am I a fan of any pension system other than one that gives the money weekly directly to me for me to decide how and where to be invested but since this is my own pipe dream I'll just say be very careful on jumping with rumors and "IF" this ever goes from fiction to fact we all need to look long and very carefully at all scenarios before we act. Before we do anything we need some very clear and precise details as to what a company plan would entail or another union plan as APWA has suggested they have. Going from a boiling pot to cool waters sounds good but we need to make damn sure that the cool waters aren't in another pot and the heat element under it is just turned down low for the time being! </p><p>JMHO.</p></blockquote><p></p>
[QUOTE="wkmac, post: 52908"] ok2bc, I also agree the 7.5% figure is a little to high to expect from such a large fund. With an individual in a self managed 401 or IRA a 7.5% over time I think is achieveable but a large fund requires to much liquidity and therefore harder to get those higher results but that's just my opinion. That said however I do believe the charge of not being good stewards is a fair claim but to also be fair it may have more to do with the current nature of the entire situation rather than bad investing specifically although this may not be entirely void in the current situation. As to the rumor of the pay freeze/pension buyout. I'm not so certain this isn't more an issue of pipedreaming and what if's rather than reality. First off, there is a labor agreement calling for specific performance by both sides and to void this part pertaining to pension I have to ask this. Can the union leadership on it's own agree to this with the company and have this take place or does it require memebership approval in the way of a revised contract? Is there something in the labor law that allows UPS in concert with it's IBT represented employees to circumvent the union leadership if some form of wrong or improper action on the part of IBT is found to harm the represented employees? Also, will the $4 bil set CS and the other pension plans on strong course and will it strengthen the union? I believe unless you can do what I asked in that last question you'll never get the IBT to go along. I'm also not convinced that labor law allows the pay freeze/ pension buyout to take place as easily as some suggest. It's no secret I'm not a big fan of CS nor am I a fan of any pension system other than one that gives the money weekly directly to me for me to decide how and where to be invested but since this is my own pipe dream I'll just say be very careful on jumping with rumors and "IF" this ever goes from fiction to fact we all need to look long and very carefully at all scenarios before we act. Before we do anything we need some very clear and precise details as to what a company plan would entail or another union plan as APWA has suggested they have. Going from a boiling pot to cool waters sounds good but we need to make damn sure that the cool waters aren't in another pot and the heat element under it is just turned down low for the time being! JMHO. [/QUOTE]
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