I wish I had their worries if I had 25 plus years management with their stock, salary, perks and bonuses. If the rumors are true with the grades being district managers and above, they will be well taken care of. In other words the prospect of them having to get a job at Walmart is less than their hourly counterparts, if you get my drift. This happened before in the mid nineties, so if true it is nothing new. Maybe targeting the higher salary people now, in the last one alot of the younger management took the buy out in search of greener pastures. Can see them raising the retirement ages for the less seniority management team, kick it up to the medicad/medicare age requirement of 62. Makes financial sense, savings with not providing health and welfare coverages for their retirees.
Somebody did bring up the discrimination involved in just offering the higher ups the early retirement package, guessing that the offer will include those below the grade if you do have the 80 year age and service requirement to prevent any problems. Good news is that your UPS Retirement Plan is overfunded, so at least the federal government is not involved with it. As far as eliminating the fund, study the federal ERISA laws and see that any vested time is guaranteed. In other words it is not going to change from your best five year formula, they can stop putting monies into your trust, but it may be well over 100 percent vested by now. For the novice that means that you may not have to put any new monetary contributions into the trust to cover the their retirees, just living off the interest from the plans' investments.
Guess you guys will find out Monday, if the rumors have merit. Otherwise somebody is just pulling your chains, lousy time of the season for it