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UPS Retirement Topics
Letter from NYS Teamsters Pension Plan
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<blockquote data-quote="JonFrum" data-source="post: 727966" data-attributes="member: 18044"><p>I too more or less road out the stock market troubles (by parking my money in a money market fund,) but no one knows for sure when to switch into and out of the stock market. I'm asking if anyone has ever proved that professional financial advisors are any good at market timing. The best of them advise the big pension plans and they don't seem to have done so good. It's especially difficult when the other markets (bonds, real estate, money) go down right along with the stock market. Then there's the problem of advisor bias. They tend to favor stock ownership and usually advise being "in" the market. So when stocks crash, you take a beating.</p><p></p><p>When I said that <u>by law</u> there must be an equal number of Labor and Employer trustees I thought I answered the question. Plans have rules in place to select trustees and replace trustees who leave. In the New England Fund Tom J. Ventura of YRCW left when he became no longer eligible to hold an employer trustee position when Yellow Roadway Corporation Worldwide stopped being an active contributor to the fund. I assume he was promptly replaced.</p><p></p><p>Legally speaking, UPS joins these Teamster sponsored pension funds voluntarily as a result of the collective bargaining process. The give-and-take of negotiations is a two-way street, with pressure on both sides, but it is still considered a voluntary decision in the end.</p></blockquote><p></p>
[QUOTE="JonFrum, post: 727966, member: 18044"] I too more or less road out the stock market troubles (by parking my money in a money market fund,) but no one knows for sure when to switch into and out of the stock market. I'm asking if anyone has ever proved that professional financial advisors are any good at market timing. The best of them advise the big pension plans and they don't seem to have done so good. It's especially difficult when the other markets (bonds, real estate, money) go down right along with the stock market. Then there's the problem of advisor bias. They tend to favor stock ownership and usually advise being "in" the market. So when stocks crash, you take a beating. When I said that [U]by law[/U] there must be an equal number of Labor and Employer trustees I thought I answered the question. Plans have rules in place to select trustees and replace trustees who leave. In the New England Fund Tom J. Ventura of YRCW left when he became no longer eligible to hold an employer trustee position when Yellow Roadway Corporation Worldwide stopped being an active contributor to the fund. I assume he was promptly replaced. Legally speaking, UPS joins these Teamster sponsored pension funds voluntarily as a result of the collective bargaining process. The give-and-take of negotiations is a two-way street, with pressure on both sides, but it is still considered a voluntary decision in the end. [/QUOTE]
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