BrownieBite
New Member
The rumor mill seems to be churning about an increase to the management retirement age. Anyone else hearing anything?
Mgmt Retirement Age Change
- Thread starter BrownieBite
- Start date
Thebrownblob
Well-Known Member
Boy the management jobs just keep getting worse, and worse, circling the drain. Way to take care of your people Carol!
UnionStrong
Sorry, but I don’t care anymore.
Not many make it anyway…
Scuba_Steve
Well-Known Member
Not sure you can arbitrarily do that for people that are already on a particular grandfathered plan. I think it would have to be for new hires moving forward or something.
Besides there is really no more retirement/pension plan at UPS for management anymore, its just a plain ole 401k, so you can leave anytime you want, and take your 401k with you, and are simply subject to the regular tax laws when you can take 401k withdraws. Staying or leaving does not change those eligible 401k withdraw dates, they are laws.
DELACROIX
In the Spirit of Honore' Daumier
Lineandinitial
Legio patria nostra
It's also about the MIP stock you leave on the table in the form of Restricted Performance Units (RPU's). If you leave before "retirement age" they keep possibly 5 years of what was awarded. Plus the Medical. Pretty cheesy.
Holy hell
UnionStrong
Sorry, but I don’t care anymore.
No wonder they’re miserable
Lineandinitial
Legio patria nostra
Yeah, quite a few pissed off people when they started doing that. Get this: if you retire, the RPU's are paid to you over 5 years. If you die before you get all 5 years worth, they keep the remainder....
At one time they was happy when we got a good contract because they know it was at least going to get matched or maybe they would get something better
Lineandinitial
Legio patria nostra
If it wasn't for that Daily Thought for the Day, I don't know most would do.....
That's BS.
Not that I don't believe what you were saying I'm the saying what the company is doing is BS
Lineandinitial
Legio patria nostra
It's in the Prospectus no one ever reads
sailfish
Master of Karate and Friendship for Everyone
I wish my old C.M. lost everything right before he retired. Nothing would satisfy me like seeing that POS crash and burn all the way from the top of his ivory tower and wallow in well-deserved misery. If only I could then see him crawling on the sidewalk begging for change so I could kick all the coins out of his cup.
UnionStrong
Sorry, but I don’t care anymore.
That’s a rip off.
They want to replace everyone with part-time employees.
sailfish
Master of Karate and Friendship for Everyone
I would follow him to hell so I could personally torment him until the end of time.
