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Management Pension Changes Impact (On Topic)
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<blockquote data-quote="beentheredonethat" data-source="post: 2945919" data-attributes="member: 4886"><p>You have a lot of good points, but there are more. </p><p></p><p>1. They list the great points about a 401K in that it can be passed on to your heirs, but they base the projected disbursements so that the average retiree will use up their entire 401K attributable from UPS contributions when you die. If you outlive the average, you will outlive your money. So don't plan on spending what they say you can. </p><p></p><p>2. Most experts say to withdraw 4% of your balance and increase by inflation as you age. Some experts are saying that is too aggressive and it should be lower. Using UPS rather generous assumptions of an average compounded 6% return on investment at age 65 I will have about 485K in a 401K that came from UPS (excluding my own contributions). They suggest over 3600 per month in a payment or over 43K per year. Using the 4% figure I should withdraw 19,400 per year or roughly 1600/month. </p><p></p><p>3. They are very careful to use wording to indicate changes can be made. So it's probable, they will reduce the amounts they said they would give shortly after the changes are implemented. </p><p></p><p>4. I ran my pension numbers less then 3 months ago using their calculator. I had well over 100 more per month at 55 then what they just showed in my packet. I assumed 2% raises, they are assuming 3% raises. So how is that possible other than they are lying about the amount of changes?</p></blockquote><p></p>
[QUOTE="beentheredonethat, post: 2945919, member: 4886"] You have a lot of good points, but there are more. 1. They list the great points about a 401K in that it can be passed on to your heirs, but they base the projected disbursements so that the average retiree will use up their entire 401K attributable from UPS contributions when you die. If you outlive the average, you will outlive your money. So don't plan on spending what they say you can. 2. Most experts say to withdraw 4% of your balance and increase by inflation as you age. Some experts are saying that is too aggressive and it should be lower. Using UPS rather generous assumptions of an average compounded 6% return on investment at age 65 I will have about 485K in a 401K that came from UPS (excluding my own contributions). They suggest over 3600 per month in a payment or over 43K per year. Using the 4% figure I should withdraw 19,400 per year or roughly 1600/month. 3. They are very careful to use wording to indicate changes can be made. So it's probable, they will reduce the amounts they said they would give shortly after the changes are implemented. 4. I ran my pension numbers less then 3 months ago using their calculator. I had well over 100 more per month at 55 then what they just showed in my packet. I assumed 2% raises, they are assuming 3% raises. So how is that possible other than they are lying about the amount of changes? [/QUOTE]
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Management Pension Changes Impact (On Topic)
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