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Management Pensions
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<blockquote data-quote="oldbrownguy" data-source="post: 1101169" data-attributes="member: 46190"><p>I have been reading this forum for years and I have finally decided to add my one cent worth. It used to two cents worth, but what the hell, they have cut just about everything else from us...lol I have been what I consider to be a very loyal employee of over 30 years. I have seen it all and had my share of joys and frustrations. But this present leadership is ruining our once great company. You all know whats taking place, so I am not going to rehash all the details. The one thing that is of great concern to me and many other long timer management people, it our lousy pension. Once I qualified with the years and age requirements, I started to look at it. It didnt take long to realize its going to be less than 50% of my present salary.</p><p> In the old days (pre wall street), we could count on the BOD meeting every qtr and the stock would go up 3-4 $$ per share. Then it would split regularly and pay a nice dividend. Many of us took out hypo loans to help our portfolio grow (and it did). Under that scenario, folks built up a nice UPS stock packet worth over a million $ (for most one unit sups that held onto their stock). Then when they retired, UPS would (Maybe) by back up to 10% per year. So the pension didnt matter because the stock was still growing and paying a nice dividend and, they could sell about a 100K per year and live a very nice life. But thats all changed, and the biggest thing is, NOBODY IN ATLANTA CARES that the present pension program for management people STINKS !!</p></blockquote><p></p>
[QUOTE="oldbrownguy, post: 1101169, member: 46190"] I have been reading this forum for years and I have finally decided to add my one cent worth. It used to two cents worth, but what the hell, they have cut just about everything else from us...lol I have been what I consider to be a very loyal employee of over 30 years. I have seen it all and had my share of joys and frustrations. But this present leadership is ruining our once great company. You all know whats taking place, so I am not going to rehash all the details. The one thing that is of great concern to me and many other long timer management people, it our lousy pension. Once I qualified with the years and age requirements, I started to look at it. It didnt take long to realize its going to be less than 50% of my present salary. In the old days (pre wall street), we could count on the BOD meeting every qtr and the stock would go up 3-4 $$ per share. Then it would split regularly and pay a nice dividend. Many of us took out hypo loans to help our portfolio grow (and it did). Under that scenario, folks built up a nice UPS stock packet worth over a million $ (for most one unit sups that held onto their stock). Then when they retired, UPS would (Maybe) by back up to 10% per year. So the pension didnt matter because the stock was still growing and paying a nice dividend and, they could sell about a 100K per year and live a very nice life. But thats all changed, and the biggest thing is, NOBODY IN ATLANTA CARES that the present pension program for management people STINKS !! [/QUOTE]
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