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Brown Cafe UPS Forum
UPS Retirement Topics
Is Central States pension fund ready to go under?
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<blockquote data-quote="area43" data-source="post: 237143" data-attributes="member: 4862"><p>Ok, right now in the CS plan your getting 40 cents to every dollar UPS puts in your behalf. Now in the Cut out the middle man Plan you would get the whole dollar. So, in doing this you have just acceralated your pension earnings. For every one year working under the cut middle man plan would equal 2 1/5 years under the Teamsters plan. Also lets say you started driving at 50 and only made it to 54. Well, under the Teamsters plan you would get 0, nada, nothing(not vested yet, 5 years remember it used to be 10, how cruel was that, Im sure they'll change it back to 10. LOL). Under my plan you will get those weekly contribution cks after your 40 day probation is up. Do the math. 4 yrs times I'll use 10 grand even though its more than that equals 40,000 dollars(no earnings added so it might be more). Now, you still have intill 59 1/2 to collect. So for those 5 years your money is multipling. Then if you have a 401k(gross contributions) another 40,000 dollars there, combined with the IRA(UPS weekly pension payments were made) you could have a very nice nest egg. Grand total of 80,000 dollars in 4 years. Thats with no earnings folks. Unbelievable!!! Teamsters plan will give you nothing............</p></blockquote><p></p>
[QUOTE="area43, post: 237143, member: 4862"] Ok, right now in the CS plan your getting 40 cents to every dollar UPS puts in your behalf. Now in the Cut out the middle man Plan you would get the whole dollar. So, in doing this you have just acceralated your pension earnings. For every one year working under the cut middle man plan would equal 2 1/5 years under the Teamsters plan. Also lets say you started driving at 50 and only made it to 54. Well, under the Teamsters plan you would get 0, nada, nothing(not vested yet, 5 years remember it used to be 10, how cruel was that, Im sure they'll change it back to 10. LOL). Under my plan you will get those weekly contribution cks after your 40 day probation is up. Do the math. 4 yrs times I'll use 10 grand even though its more than that equals 40,000 dollars(no earnings added so it might be more). Now, you still have intill 59 1/2 to collect. So for those 5 years your money is multipling. Then if you have a 401k(gross contributions) another 40,000 dollars there, combined with the IRA(UPS weekly pension payments were made) you could have a very nice nest egg. Grand total of 80,000 dollars in 4 years. Thats with no earnings folks. Unbelievable!!! Teamsters plan will give you nothing............ [/QUOTE]
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Is Central States pension fund ready to go under?
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