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Brown Cafe UPS Forum
UPS Retirement Topics
local 804 pension problems
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<blockquote data-quote="brez3903" data-source="post: 149375" data-attributes="member: 8037"><p>the problem with the 804 pension plan is they front loaded the benefits. they gave increases in benefits without having the money first, coupled with a few years of bad investments, their plan is under funded. ups is determined to do away with 25 and 55 or 30 regardless of age type pension , this way you pay in to the plan longer not just for retirement but for health benefits as well. local 177 in jersey has been approached by ups to cut back the pension plan for local 177 as well, while the local says everything is okay, their letter sent out to the members certainly dosen't make me feel confident that they are right</p></blockquote><p></p>
[QUOTE="brez3903, post: 149375, member: 8037"] the problem with the 804 pension plan is they front loaded the benefits. they gave increases in benefits without having the money first, coupled with a few years of bad investments, their plan is under funded. ups is determined to do away with 25 and 55 or 30 regardless of age type pension , this way you pay in to the plan longer not just for retirement but for health benefits as well. local 177 in jersey has been approached by ups to cut back the pension plan for local 177 as well, while the local says everything is okay, their letter sent out to the members certainly dosen't make me feel confident that they are right [/QUOTE]
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