I A M penison out of money

[542thruNthru]

The union is looking into consolidating the funded plans with the failing ones. Its only fair. Some funds planned on $60k or more a year in pension. Any Brother wouldn't want another brother who is expecting $5000 a month at 55 years old with 30 years service to take a reduction. We should all work a little longer, take a reduction and make sure these brothers drink craft brew thru their 35-40 years of retirement. I was only expecting/hoping for $2500 a month with 30 years at age 64 in my plan, so I can work a few years longer or take a little less to spread the wealth and make sure they get what they deserve! Perhaps we should strike nationwide next time around to DEMAND UPS puts 15-20 billion into our multi employer plans. Its only fair. The stingy bastards are only contributing $580 a week per FT employee at my local for pension benefits. Add that to my wages for 55hr weeks and H&W benefit contributions and I barely scratch $165K a year.

No thanks.

 

[Foamer Pyle]

You need to raise your expectations.

The company would go belly up, if everyone that retired received $5000 a month in pension benefits.

 

[542thruNthru]

The company would go belly up, if everyone that retired received $5000 a month in pension benefits.

Which company?

 

[IVE GOTTA PACKAGE 4U]

The company would go belly up, if everyone that retired received $5000 a month in pension benefits.

UPS pays a lot into the pension plans but unfortunately it's not one plan, it's many plans. And several of them are multi employer plans. Lots of companies no longer are in business but they still have people collecting from the plan

 

[burrheadd]

The company would go belly up, if everyone that retired received $5000 a month in pension benefits.

Don’t blame the “company” for this one

 

[Foamer Pyle]

UPS pays a lot into the pension plans but unfortunately it's not one plan, it's many plans. And several of them are multi employer plans. Lots of companies no longer are in business but they still have people collecting from the plan

I was in the Central States, but UPS bought us out of that one.

 

[IVE GOTTA PACKAGE 4U]

I was in the Central States, but UPS bought us out of that one.

Bit the old timers in that plan are screwed along with many other plans

 

[Jones]

The company would go belly up, if everyone that retired received $5000 a month in pension benefits.

You act like 60k/year is a lot of money and it's really not. Most drivers are making 100k+.

 

[zubenelgenubi]

The company would go belly up, if everyone that retired received $5000 a month in pension benefits.

The company does not pay out pension payments. The pension does. If the company pays 14k a year into the pension on your behalf for 30 years, how much do you think you should make per month when you retire? If you don't consider the interest, it would take 7 years to get your money back at 5000/month.

 

[PT Car Washer]

You act like 60k/year is a lot of money and it's really not. Most drivers are making 100k+.

$60/yr is not a lot of money? Yet many feel that paying $15/hr will bankrupt the company.

 

[Jones]

$60/yr is not a lot of money? Yet many feel that paying $15/hr will bankrupt the company.

60k/yr will allow you to have a quiet, modest life in most parts of the country, you're not gonna be living large. People act like it's a king's ransom or something.

 

[PT Car Washer]

60k/yr will allow you to have a quiet, modest life in most parts of the country, you're not gonna be living large. People act like it's a king's ransom or something.

$60k + $25k in Social Security + IRA and or 401(k) dividends and you have a very comfortable life for just sitting at home living off of other peoples labor.

 

[Jones]

$60k + $25k in Social Security + IRA and or 401(k) dividends and you have a very comfortable life for just sitting at home living off of other peoples labor.

I wouldn't characterize a pension and SS earned for 30 years of physical labor as "sitting at home living off other people's labor".

 

[zubenelgenubi]

I wouldn't characterize a pension and SS earned for 30 years of physical labor as "sitting at home living off other people's labor".

Unfortunately, the way the pension and SS are run, other people have to keep working for us to get paid what we earned.

 

[PT Car Washer]

I wouldn't characterize a pension and SS earned for 30 years of physical labor as "sitting at home living off other people's labor".

30 years of labor when most men live to be at least 75 years old.

 

[BadIdeaGuy]

30 years of labor when most men live to be at least 75 years old.

Pension:

a regular payment made during a person's retirement from an investment fund to which that person or their employer has contributed during their working life.

You aren't living off of others' labor. You are living off of your previous labor.

 

[Brown287]

The union is looking into consolidating the funded plans with the failing ones. Its only fair. Some funds planned on $60k or more a year in pension. Any Brother wouldn't want another brother who is expecting $5000 a month at 55 years old with 30 years service to take a reduction. We should all work a little longer, take a reduction and make sure these brothers drink craft brew thru their 35-40 years of retirement. I was only expecting/hoping for $2500 a month with 30 years at age 64 in my plan, so I can work a few years longer or take a little less to spread the wealth and make sure they get what they deserve! Perhaps we should strike nationwide next time around to DEMAND UPS puts 15-20 billion into our multi employer plans. Its only fair. The stingy bastards are only contributing $580 a week per FT employee at my local for pension benefits. Add that to my wages for 55hr weeks and H&W benefit contributions and I barely scratch $165K a year.

This made me spit my coffee out I laughed so hard. Ironic isn’t it that guys who live in areas of the country where the average home costs $250K expect those of us who live where the cost 850K want us to think it’s fair. Well first adjust our pay to accurately reflect where we live then we can talk about this bailout you speak of. Till then......keep dreaming.

 

[UpstateNYUPSer(Ret)]

This made me spit my coffee out I laughed so hard. Ironic isn’t it that guys who live in areas of the country where the average home costs $250K expect those of us who live where the cost 850K want us to think it’s fair. Well first adjust our pay to accurately reflect where we live then we can talk about this bailout you speak of. Till then......keep dreaming.

Market based wages? Uh......nope.

 

[Brown287]

Market based wages? Uh......nope.

Pension bailouts? Uh.....nope!

 

[UpstateNYUPSer(Ret)]

Pension bailouts? Uh.....nope!

100% agree-----private pensions should not be bailed out nor should the Union consider merging all of our pensions like some sort of Teamster socialism.