Home
Forums
New posts
Search forums
What's new
New posts
Latest activity
Members
Current visitors
Log in
Register
What's new
Search
Search
Search titles only
By:
New posts
Search forums
Menu
Log in
Register
Install the app
Install
Home
Forums
Brown Cafe UPS Forum
UPS Retirement Topics
Is Central States pension fund ready to go under?
JavaScript is disabled. For a better experience, please enable JavaScript in your browser before proceeding.
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an
alternative browser
.
Reply to thread
Message
<blockquote data-quote="area43" data-source="post: 237137" data-attributes="member: 4862"><p>I agree with alot of what you say. Its sad. I still believe its the way to go. Individual retirement. Brown what you don't realize is that the weekly contributions can't be touched. The 401k and IRA's can only be touched when you hit age 59 1/2. Again, the monies can't be touched. Now with a little education. My advice to you. When you hit age 59 1/2 don't take it out in a lump sum. Instead leave it in there so it can still collect earnings. What you do now is cut yourself a monthly check. $700, $800 or whatever. Remember, the higher the monthly amount the shorter the distance your money will last. Now if you were born before 1960 your S.S. will be kicking in at 62(early retirement). Brown, about the people needing someone to look out from them. Let them stay in the MEP. Why must I be forced to stay on the ship? Im for the Teamsters, but the pension sucks. Why can't I have what the mechanics have? Go ahead drivers go ask you mechanic what his retirement will be. Its just plan cruel. They will just keep raising the age. I'll be an out right crippled individual. Brown, the real question is can I count on the Teamsters for my retirement. I'll tell you this, when I hit 47 years of age I will have hit 25 years driving. Im leaving. I held up my part of the bargain. I pray the Teamsters will hold up to theirs. Joint 83, 73% funded, only 10% away from being underfunded and I still have 5 years to go. Yikes!</p></blockquote><p></p>
[QUOTE="area43, post: 237137, member: 4862"] I agree with alot of what you say. Its sad. I still believe its the way to go. Individual retirement. Brown what you don't realize is that the weekly contributions can't be touched. The 401k and IRA's can only be touched when you hit age 59 1/2. Again, the monies can't be touched. Now with a little education. My advice to you. When you hit age 59 1/2 don't take it out in a lump sum. Instead leave it in there so it can still collect earnings. What you do now is cut yourself a monthly check. $700, $800 or whatever. Remember, the higher the monthly amount the shorter the distance your money will last. Now if you were born before 1960 your S.S. will be kicking in at 62(early retirement). Brown, about the people needing someone to look out from them. Let them stay in the MEP. Why must I be forced to stay on the ship? Im for the Teamsters, but the pension sucks. Why can't I have what the mechanics have? Go ahead drivers go ask you mechanic what his retirement will be. Its just plan cruel. They will just keep raising the age. I'll be an out right crippled individual. Brown, the real question is can I count on the Teamsters for my retirement. I'll tell you this, when I hit 47 years of age I will have hit 25 years driving. Im leaving. I held up my part of the bargain. I pray the Teamsters will hold up to theirs. Joint 83, 73% funded, only 10% away from being underfunded and I still have 5 years to go. Yikes! [/QUOTE]
Insert quotes…
Verification
Post reply
Home
Forums
Brown Cafe UPS Forum
UPS Retirement Topics
Is Central States pension fund ready to go under?
Top