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UPS Union Issues
Local 710 - how are you voting
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<blockquote data-quote="HollandMan73" data-source="post: 1508176" data-attributes="member: 14376"><p>Do you think 710 will raise the pension before our contributions EXCEED the monthly pay out? These numbers just don't add up......I'm not an accountant by any means but just do the simple math: 2400 × 12 = 28,800 × 30 years is around $900,000.00 with NO compounded interest! 5% compound interest is close to $2,000,000.00 5% on 900,000(no compounded interest) would pay out 45,000 a year or $100,000 a year on $2,000,000 (5% compounded) WITHOUT touching the principal. WTF!</p></blockquote><p></p>
[QUOTE="HollandMan73, post: 1508176, member: 14376"] Do you think 710 will raise the pension before our contributions EXCEED the monthly pay out? These numbers just don't add up......I'm not an accountant by any means but just do the simple math: 2400 × 12 = 28,800 × 30 years is around $900,000.00 with NO compounded interest! 5% compound interest is close to $2,000,000.00 5% on 900,000(no compounded interest) would pay out 45,000 a year or $100,000 a year on $2,000,000 (5% compounded) WITHOUT touching the principal. WTF! [/QUOTE]
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Local 710 - how are you voting
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