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UPS Retirement Topics
Is Central States pension fund ready to go under?
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<blockquote data-quote="area43" data-source="post: 233594" data-attributes="member: 4862"><p>Red, nationally since the 80's the union membership is on the decline. In 1980 there was 800 companies contributing to the fund. I believe now its 15 or 20. I might stand to be corrected. Red, don't you know that UPS is a good indicator of the US economy. That means pension earnings will plummet. If UPS goes in the tank, you and possibly many others could be out the door. I know as you have stated, you don't want this. Nobody does. </p><p> </p><p>Red, I do have and like many others have a so called seperate plan, allready. Its called the 401k and its very popular. More popular than the MEP. Red and Jon, I hope you don't have a 401k plan because that would(with all do respect) make you a hypocrite. Again, walk the talk. The fact is that when all else fails, its the individual planned retirement(401k) in his own behalf that will be the total safeguard for that driver and his family. The plan I propose puts the power back into the hands of the common laborer. If UPS goes under in my plan you will still have your nest egg with your name on it. Under the MEP you will have no certian guarantee to get anything. Now since the feds have passed that new law you will be getting something, but it will be alot less.</p><p> </p><p>In closing, Red this is a choice like I mentioned before. If you so choose you can stay in the MEP, but don't let your decision be dictated on someone else. Let the individual have the right to choose rather or not to stay in the plan or go with my plan. Freedom to choose. Options. Not a force it down your throat or else type of mentality. Again, CS is like Social Security. I'm 42, I and many others don't plan on getting any of it. As you have notice they have increased the age I believe to 67 early ,70 full and this is a government plan. To many active working UPS people in the CS plan they have seen this happen. Big change in their retirement bennies. A big fear of having nothing. I believe all that they have now, that is a sure thing is their 401k. Nobody, but themself can take that away.</p></blockquote><p></p>
[QUOTE="area43, post: 233594, member: 4862"] Red, nationally since the 80's the union membership is on the decline. In 1980 there was 800 companies contributing to the fund. I believe now its 15 or 20. I might stand to be corrected. Red, don't you know that UPS is a good indicator of the US economy. That means pension earnings will plummet. If UPS goes in the tank, you and possibly many others could be out the door. I know as you have stated, you don't want this. Nobody does. Red, I do have and like many others have a so called seperate plan, allready. Its called the 401k and its very popular. More popular than the MEP. Red and Jon, I hope you don't have a 401k plan because that would(with all do respect) make you a hypocrite. Again, walk the talk. The fact is that when all else fails, its the individual planned retirement(401k) in his own behalf that will be the total safeguard for that driver and his family. The plan I propose puts the power back into the hands of the common laborer. If UPS goes under in my plan you will still have your nest egg with your name on it. Under the MEP you will have no certian guarantee to get anything. Now since the feds have passed that new law you will be getting something, but it will be alot less. In closing, Red this is a choice like I mentioned before. If you so choose you can stay in the MEP, but don't let your decision be dictated on someone else. Let the individual have the right to choose rather or not to stay in the plan or go with my plan. Freedom to choose. Options. Not a force it down your throat or else type of mentality. Again, CS is like Social Security. I'm 42, I and many others don't plan on getting any of it. As you have notice they have increased the age I believe to 67 early ,70 full and this is a government plan. To many active working UPS people in the CS plan they have seen this happen. Big change in their retirement bennies. A big fear of having nothing. I believe all that they have now, that is a sure thing is their 401k. Nobody, but themself can take that away. [/QUOTE]
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