Management Pension Change

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Tarnsman

Guest
When will the management pension change be announced & what will the changes be ?.....I am happy with both the Teamsters & UPS but I surely do not want UPS to gain control of my pension if their own management pension is lowered......How can we trust UPS while they screw their management ?
 

OldManAllowance

Well-Known Member
Why would you want a reputable company like UPS manage your pension? Ask anyone in the Central States who is going broke. Or go ask the people in Central Pennsylvania...they collect $1,500/mth after 30 years. Sure the company's not perfect...but I'd let them manage my retirement over some crooks.
 

tieguy

Banned
When will the management pension change be announced & what will the changes be ?.....I am happy with both the Teamsters & UPS but I surely do not want UPS to gain control of my pension if their own management pension is lowered......How can we trust UPS while they screw their management ?


you make a lot of assumptions on something that has been nothing more then a bunch of will rumors for a number of years.

Your comment defies logic. The latest rumor is ups getting out of the pension business and offering us the self managed option through 401k match. If so then why would they want to manage your pension. We don't have anything on the table even close to our managing your pension.

again you make a lot of assumptions.
 

local804

Well-Known Member
Why would you want a reputable company like UPS manage your pension? Ask anyone in the Central States who is going broke. Or go ask the people in Central Pennsylvania...they collect $1,500/mth after 30 years. Sure the company's not perfect...but I'd let them manage my retirement over some crooks.

Would you let UPS manage your pension or would you let Morgan Stanley,Bankers Trust, and JP Morgan manage your pension????


Let UPS stick to delivering the packages and servicing the customers (which service isnt even on our trucks anymore) and let the professionals deal with our money. BTW Morgan,Bankers trust and JP all were part of the CS pension. I guess they are the people who you are calling the crooks.
 
A

Anon1

Guest
>>BTW Morgan, Bankers trust and JP all were part of the CS pension.>>

Then what the heck happened?
 

athena

Well-Known Member
I don't think the problem was as much investing poorly (although there certainly were crooks, at least at one time, involved in CS, a.k.a. the mafia). The problem is the whole multiemployer part of the plan. Can the people that have been lost from the loss of the other companies be made up through other companies (i.e. FedEx). And is CS too far gone to be fixed?
 

local804

Well-Known Member
I don't think the problem was as much investing poorly (although there certainly were crooks, at least at one time, involved in CS, a.k.a. the mafia). The problem is the whole multiemployer part of the plan. Can the people that have been lost from the loss of the other companies be made up through other companies (i.e. FedEx). And is CS too far gone to be fixed?

Anon, If I could personally answer the question I would not be delivering brown boxes all day.
Athena,
At one time the blame could have been placed on the "mafia" The pension fund has been under federal oversight for some time now.
 

Braveheart

Well-Known Member
you make a lot of assumptions on something that has been nothing more then a bunch of will rumors for a number of years.

Your comment defies logic. The latest rumor is ups getting out of the pension business and offering us the self managed option through 401k match. If so then why would they want to manage your pension. We don't have anything on the table even close to our managing your pension.

again you make a lot of assumptions.
I have been told by multiple Managers that they are in fact doing away with the traditional management pension plan. I hope they group you guys in with our new pension so if we get shafted down the road, you get shafted down the road. And the managers get a pension, and matching 401k funds, and 1/2 months salary bonus at Christmas, and stock bonuses, and the dividends that go with them. So any idea that we should switch to a simple 401k matching in place of our pension is lacking just a wee bit.
 

athena

Well-Known Member
At one time the blame could have been placed on the "mafia" The pension fund has been under federal oversight for some time now.

Oh, yeah, I know. I don't know why I even included that. I was trying to make a point that I didn't think anyone was truly acting criminally except for the actual criminals. Things just happen and I don't think blaming one person or another is going to make anything better. The questions is what to do now. What is the best solution for the employees under the CS plan.
 
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