Brownslave688
You want a toe? I can get you a toe.
It would be nice but I don't see funding as a huge problem with our pensions.
I see pensions as an outdated broken system. The problem is there is no good way to transition out of it.
Interesting Article About Teamsters Pension For All The Haters
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I see pensions as an outdated broken system. The problem is there is no good way to transition out of it.
I can see UPS buying out the pensions and going to a matching 401k in the future.
Not too many private sector jobs have a pension anymore
Brownslave688
You want a toe? I can get you a toe.
But what do you do with a guy like me?
Do I just get partial pension credit and that stops right there? Do I get my accrued pension money transfered into my 401k?
Brownslave688
You want a toe? I can get you a toe.
That really could save ups a huge amount of money. Even a 10% match hell a 20% match would save them money because no one would take advantage of the match.
The problem I see with it is no one saving and them ending up with a bunch of 70 year old drivers because they can't afford to retire.
Probably what most of the companies do nowadays. Freeze your pension and go directly to a 401k
I agree with you on that. Too many drivers live waaaaaaay beyond their means.
Brownslave688
You want a toe? I can get you a toe.
Yeah not cool at all. Worst of both worlds.
If the union could transfer my pension money into my 401k i would be game.
Brownslave688
You want a toe? I can get you a toe.
It ain't just drivers. My wife actually had coworkers that "can't afford" to put away enough to get the full 6% match. SMH
We have guys that crack 100k a year and only put one or two percent in.
Brownslave688
You want a toe? I can get you a toe.
Man we get a pension.....
And the guys know that ours isn't in good shape.
Operational needs
Virescit Vulnere Virtus
That's crazy. Even on my meager earnings I can afford to put away 6% weekly.
Do you get the full match?
Operational needs
Virescit Vulnere Virtus
I think so. Lol.
Glad you are on top of that.
UpstateNYUPSer(Ret)
Well-Known Member
This is exactly what would happen.
We have a company called Graymount that is pulling out of out pension. The company is paying their unfunded liability, the pensions are then frozen and new contributions are going to 401k's.
MrFedEx
Engorged Member
Why is it broken? Is it because you've heard years of lies from Republicans touting RTW and 401ks as the "New Reality"? Here's some astounding news. UPS does just fine paying out a pension. I'm sure management would love to tell you guys the same pack of lies about "losing market share", "we can't afford it" etc., all the while paying out huge salaries to upper management.
God, with weenies like a lot of you willing to take it and accept a crap sandwich, it's no wonder the IBT is on the decline.
Brownslave688
You want a toe? I can get you a toe.
You don't have a damn clue what you're talking about. Just spewing bs and trying to sounds like a badass as usual.
It's broken because it doesn't work. We have seen this over the last 30 years or so. Many failed pensions proves it doesn't work. Social security essentially a giant pension plan. Doesn't work. I mean are you blind or do you think we just need to throw more money at it?
UpstateNYUPSer(Ret)
Well-Known Member
Pension funds work best when there is a strong balance between those contributing and those receiving.
Brownslave688
You want a toe? I can get you a toe.
Are they matching or is the old contribution going straight to 401k?
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