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UPS Retirement Topics
Hoffa: Time to protect pensions
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<blockquote data-quote="BrownFlush" data-source="post: 3246455" data-attributes="member: 65823"><p>Every nickel thats ever been negotiated and gained by the Teamsters from UPS , whether it be for pension , health , or wages , is seen by the company as throwing "good money after bad ." They hate giving you anything regardless of where it goes.</p><p>Since pension funds are struggling , the cry of give me the money and do away with the pension is whats being heard .</p><p>I'm saying thats the wrong reaction . Don't lose the pension language . When everything tanked a few years back , we all were set back ( including pension funds , thus the reason for the struggle ) . Now , most individual investments have recovered and back well in the green .</p><p>During the huge losses in the market , my pension check never changed . Just sayin' during that time , what money I invested in my 30 , the return has been unbeatable. </p><p>I knew several people who were going to retire in 2009 with their "individual " retirement accounts and because of the crash of 08 , they got the opportunity to work 7 more years . Two people I know are still working and haven't recovered from their losses .</p><p>If you lose the pension language and think you are going to get same negotiated raises ( as well as the effort for those raises ) for your " individual " retirement , your dreaming. </p><p>Do the 401k dance with your wages ( you make enough ).</p><p>Let the union mismanage ( not my opinion ) the pension , at their worst , the Teamsters have done right by me every time . I can't say the same for UPS.</p><p>I guess that may be one of the reasons why the union is struggling these days .The word "individual " doesn't fit in the word Union.</p></blockquote><p></p>
[QUOTE="BrownFlush, post: 3246455, member: 65823"] Every nickel thats ever been negotiated and gained by the Teamsters from UPS , whether it be for pension , health , or wages , is seen by the company as throwing "good money after bad ." They hate giving you anything regardless of where it goes. Since pension funds are struggling , the cry of give me the money and do away with the pension is whats being heard . I'm saying thats the wrong reaction . Don't lose the pension language . When everything tanked a few years back , we all were set back ( including pension funds , thus the reason for the struggle ) . Now , most individual investments have recovered and back well in the green . During the huge losses in the market , my pension check never changed . Just sayin' during that time , what money I invested in my 30 , the return has been unbeatable. I knew several people who were going to retire in 2009 with their "individual " retirement accounts and because of the crash of 08 , they got the opportunity to work 7 more years . Two people I know are still working and haven't recovered from their losses . If you lose the pension language and think you are going to get same negotiated raises ( as well as the effort for those raises ) for your " individual " retirement , your dreaming. Do the 401k dance with your wages ( you make enough ). Let the union mismanage ( not my opinion ) the pension , at their worst , the Teamsters have done right by me every time . I can't say the same for UPS. I guess that may be one of the reasons why the union is struggling these days .The word "individual " doesn't fit in the word Union. [/QUOTE]
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