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Brown Cafe UPS Forum
UPS Partners
Management Buyout Update?
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<blockquote data-quote="Do the math" data-source="post: 168781"><p>Suppose a magement person makes 5k per month and their pension at 55 is about 60% of their current pay and they are expected to live to 78 (average exp).</p><p></p><p>$5000 x .60 x 12 months x 23years life= $828,000 cost of pension payments.</p><p></p><p>30 k for each year worked sounds like a good estimate.</p><p></p><p>The pension is fully funded. No cost to UPS to liquidate by pay out. </p><p></p><p>Future savings by reduced contribution to 401.</p><p></p><p>Teamsters (overall)get .40 benefit of their contribution of approx 12k per year. UPS can increase the benefit to the employee and reduce the cost by 6k per year per employee by cashing out and starting 401k style plan.</p><p></p><p>Huge savings. Win win.</p><p></p><p>Other plans to follow. IMO...</p></blockquote><p></p>
[QUOTE="Do the math, post: 168781"] Suppose a magement person makes 5k per month and their pension at 55 is about 60% of their current pay and they are expected to live to 78 (average exp). $5000 x .60 x 12 months x 23years life= $828,000 cost of pension payments. 30 k for each year worked sounds like a good estimate. The pension is fully funded. No cost to UPS to liquidate by pay out. Future savings by reduced contribution to 401. Teamsters (overall)get .40 benefit of their contribution of approx 12k per year. UPS can increase the benefit to the employee and reduce the cost by 6k per year per employee by cashing out and starting 401k style plan. Huge savings. Win win. Other plans to follow. IMO... [/QUOTE]
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