I A M penison out of money

[1BROWNWRENCH]

Lol I wish I was invited since we are talking about billions on coke and hookers.

Seriously, the main reason for the shortfall is shirking membership. 30 and out is unsustainable.

BTW very few IAM ups members start at 20 with UPS. Most start north of 30

I started at 35.

 

[Box Ox]

BTW very few IAM ups members start at 20 with UPS. Most start north of 30

I started at 35.

Is that generally because of prerequisite experience requirements or late career starts?

 

[1BROWNWRENCH]

I will most likely need to quit before I can retire.

 

[1BROWNWRENCH]

Is that generally because of prerequisite experience requirements or late career starts?

Experience is needed to have a useful skill level to be of any use. You won't get hired with no experience. School is a weak substitute, but it helps.

 

[clean hairy]

WHY ARE WE YELLING

Some folks have not bought new hearing aid batteries lately and cannot hear otherwise?

 

[1BROWNWRENCH]

Some folks have not bought new hearing aid batteries lately and cannot hear otherwise?

IaM retirees certainly won't be able to afford them.

 

[barnyard]

Give me a five percent match on my 401K!

Eff that matching crap. Start by putting into my 401k whatever is going towards my pension. Let me decide how much of my income I want to add to that.

5% is freaking pocket change compared to what we are getting now.

 

[Mugarolla]

While horrible and criminal in my opinion that does not explain going from 104 percent to 89 in a few years.

I agree, but it did not help the declining status.

This was a well-managed fund paying out huge pension benefits that the money was there for.

So what happened in the past 5 years?

 

[MyTripisCut]

Eff that matching crap. Start by putting into my 401k whatever is going towards my pension. Let me decide how much of my income I want to add to that.

5% is freaking pocket change compared to what we are getting now.

If the choice were a failed or failing pension once I reach retirement age, or the 5 percent, I’ll take the match all day long.

 

[AGBD]

cutting everything

some of us in California lost our 90 and out about 5 years ago when our local pension went insolvent. We switched to national at the same time. this national contract agreement is a complete joke

 

[The Driver]

Eff that matching crap. Start by putting into my 401k whatever is going towards my pension. Let me decide how much of my income I want to add to that.

5% is freaking pocket change compared to what we are getting now.

A 100% match up to 5% could be huge, compounded over a lifetime of investing. But I agree that I would like to see the current pension contribution added until that's done for and then start the 5% program.

 

[Redtag]

I started at 35.

Same here

Is that generally because of prerequisite experience requirements or late career starts?

You need some experience working on trucks or as a plant mechanic if your PE to be able to do the job.

Plus young auto or truck mechanics think they are going to kill it on flat rate. It takes several years for the industry to beat that enthusiasm out of them

Eff that matching crap. Start by putting into my 401k whatever is going towards my pension. Let me decide how much of my income I want to add to that.

5% is freaking pocket change compared to what we are getting now.

Agreed. UPS would frigging love for us to be on a 5 percent match. Way cheaper for them.

A 100% match up to 5% could be huge, compounded over a lifetime of investing. But I agree that I would like to see the current pension contribution added until that's done for and then start the 5% program.

For those that start at 20 yes.. but that's way less then we are getting put into our retirement now.

Say NO to any pension replacement plan that requires a match. Anything less then the money the company is paying now into our pension free of matching is a pay cut.

 

[Redtag]

Ohh forgot to mention this. I found out about this a week AFTER voting on our new contract. A little dirty in my opinion.

Coincidence or not wanting us to vote no and send them back to the table and try to get more out of the company

 

[barnyard]

Say NO to any pension replacement plan that requires a match. Anything less then the money the company is paying now into our pension free of matching is a pay cut.

Exactly.
People that think there should be a match, suck at math.

 

[AGBD]

Ohh forgot to mention this. I found out about this a week AFTER voting on our new contract. A little dirty in my opinion.

Coincidence or not wanting us to vote no and send them back to the table and try to get more out of the company

actually we heard different.. Negotiations lasted all of 4 hours in Florida.. And the union was pushing everyone to vote yes.. Barely changed any language and $1 dollar /hr to health and welfare with a laughable cola wage increase(joke).. on top of the 35 cent /hr that can be deducted from wage with no cap.. Another thing we tried to change that got stuck in there again.. Either way majority rules and it passed so friend' it..

 

[Over70irregs]

The profits on top of your body wear and tear say get your pension. The funding reports that come out with the red, yellow, green status designations gives heads up. It’s our money people. Hold them accountable.

 

[scratch]

It could be worse. I got 23 years in the Central States Pension Fund and the yearly statement came in the mail yesterday. I am very thankful that the company got us out of that disaster.

 

[What'dyabringmetoday???]

It could be worse. I got 23 years in the Central States Pension Fund and the yearly statement came in the mail yesterday. I am very thankful that the company got us out of that disaster.

I hope that Big Union Guy....doesn't see this. Lol.

 

[take your time]

WHY ARE WE YELLING

ITS SO THE BOOMERS CAN HEAR US

DID YA HEAR THAT? PENSIONS ARE GOING UNDER, POPS.....

 

[Wally]

Give me a five percent match on my 401K!

Add up how much you need to save for a lifetime payout of $5000 a month. It's a lot more than 5 percent match.