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Brown Cafe UPS Forum
UPS Union Issues
Has our union proven themselves useless at this point?
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<blockquote data-quote="Xexys" data-source="post: 1470907" data-attributes="member: 47259"><p>I highly doubt the company would even consider half of that match amount. All the while, you are putting YOUR money into your 401k account.</p><p></p><p>Now consider your pension. All monies are contracted and paid by UPS through your wages, not your paycheck. A pension will net you an extremely higher amount of money over a 30 year period. I've been retired for almost 4 years and in that time I've received almost $170,000 in wages. A 401k account would never make you that kind of money even if you could possibly max out your contribution. Pension money trumps 401k money in every scenario, period.</p><p></p><p>A conservative estimate will tell you that for every 7-8 years in the stock market you CAN double your money. Doesn't mean you will, only that it's an average since the beginning of the NYSE. When I got into the 401k in 1991, the S & P 500 was at 397. Today it's over 2021. Not bad, but not nearly the kind of money 23 years of my pension would've given me over that same time, nearly $1,000,000.00 is what the pension would've paid me. I'll take the pension over the 401k any day for all the reasons outlined in my post.</p><p></p><p>You guys that think your 401k will save you if you don't get a pension are in deep doo-doo!</p></blockquote><p></p>
[QUOTE="Xexys, post: 1470907, member: 47259"] I highly doubt the company would even consider half of that match amount. All the while, you are putting YOUR money into your 401k account. Now consider your pension. All monies are contracted and paid by UPS through your wages, not your paycheck. A pension will net you an extremely higher amount of money over a 30 year period. I've been retired for almost 4 years and in that time I've received almost $170,000 in wages. A 401k account would never make you that kind of money even if you could possibly max out your contribution. Pension money trumps 401k money in every scenario, period. A conservative estimate will tell you that for every 7-8 years in the stock market you CAN double your money. Doesn't mean you will, only that it's an average since the beginning of the NYSE. When I got into the 401k in 1991, the S & P 500 was at 397. Today it's over 2021. Not bad, but not nearly the kind of money 23 years of my pension would've given me over that same time, nearly $1,000,000.00 is what the pension would've paid me. I'll take the pension over the 401k any day for all the reasons outlined in my post. You guys that think your 401k will save you if you don't get a pension are in deep doo-doo! [/QUOTE]
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Has our union proven themselves useless at this point?
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