More gloom and doom..CS is tanking

[IVE GOTTA PACKAGE 4U]

OK ... this thread is about pensions however.

Yes I realize that. Unfortunately the future cost of healthcare and reduced pension benefits, may put retirement out if reach for many of us.

Hopefully the problem can be addressed or you will see a lot of 60 year old + drivers. Don't think UPS wants that.?

 

[raceanoncr]

Ok.

Maybe, you missed that part. It happens.



Understand, this is the internet.

I didn't perceive any of your posts like that.


My questioning can be abrasive.... in a valid attempt, to establish the truth.



-Bug-

Ya THINK?

Yeah, maybe I missed that part. Why? Maybe because I WASN'T LOOKING! In other words, in my little, square foot of earth, here, I don't care. Now, don't get all hissy on this part. I, truly DO care what's going to happen to future/current/past retirees that this is/could, SEVERLY impact. I am, truly, indignant that these pension "leaders" have MISMANAGED, yes, MISMANAGED, this account for so many yrs.

As I've stated before, I've made other arrangements. I don't have to rely on CS, SS or most other plans like this. I have no debts, I have investments, I have 401K that I really don't need to touch, except when required to, I have Roths.

We, in our local, had a former BA that went on to be a Trustee in CS. Occasionally, he would attend local meetings. Going back 10+ years, we would HAMMER him about what's happening to CS and what are YOU doing about it. He, in turn, would get, almost, violent in his retorts. Blaming US for much of CS woes. Good example.

So, in THIS thread, again, I merely posted this letter, commented on my own little piece of action and YOU call me an "uninformed" opinionator, when you, in turn, opinion that I have never set foot in a union hall for any meetings. Is this like calling the kettle black?

 

[Re-Raise]

Meaning I would be happy with a nickel an hour raise but dump the extra into our benefits.....Over the years it would of helped keep the pension funded...but oh no many said I want a dollar an hour now.......now look where the pension is

I couldn't disagree more.

I feel like all of the money that UPS has given to the Teamster Pension fund to compensate me for the work I have done for them may have been thrown away. I would much rather have had the money go to me , so that I could invest it myself.

There is an expression in poker about not throwing good money after bad. Why do you wish you had thrown more money into a Ponzi scheme that you may never get any return from?

How much was contributed for these retired truck drivers from other companies that my UPS contributions are currently supporting? Like any Ponzi scheme you want to be the first one in, not the last.

 

[Lead Belly]

Yes I realize that. Unfortunately the future cost of healthcare and reduced pension benefits, may put retirement out if reach for many of us.

Hopefully the problem can be addressed or you will see a lot of 60 year old + drivers. Don't think UPS wants that.?

We could be feeder drivers well into our sixties. Provided we pass that freakin dot physical.

 

[IVE GOTTA PACKAGE 4U]

We could be feeder drivers well into our sixties. Provided we pass that freakin dot physical.

That's a possibly. But most of us will be more than burnt out and ready to get outta here.

Its very depressing.

 

[Lead Belly]

That's a possibly. But most of us will be more than burnt out and ready to get outta here.

Its very depressing.

Come on. You have good heathy kids a good wife a good marriage and you are healthy. Don't be depressed about it. I have a feeling something will work out for the both of us. This isn't the end of it all.

 

[IVE GOTTA PACKAGE 4U]

Come on. You have good heathy kids a good wife a good marriage and you are healthy. Don't be depressed about it. I have a feeling something will work out for the both of us. This isn't the end of it all.

I can't take 40 years of this place.

 

[The Milkman]

I couldn't disagree more.

I feel like all of the money that UPS has given to the Teamster Pension fund to compensate me for the work I have done for them may have been thrown away. I would much rather have had the money go to me , so that I could invest it myself.

There is an expression in poker about not throwing good money after bad. Why do you wish you had thrown more money into a Ponzi scheme that you may never get any return from?

How much was contributed for these retired truck drivers from other companies that my UPS contributions are currently supporting? Like any Ponzi scheme you want to be the first one in, not the last.

I myself when I started with UPS did not have a pot to pee in at age 30...With Divorces, support ,legal fees etc etc, and a lot of other stuff going on I did not really have the $$$ to do that. Was never really a saver however I did sign up for the 401k when it came out and it forced me to save. It paid off, but the pension when explained to me back in 81 was in my opinion at the time a nice benefit. At the time I did not really look to far into the future till after a few years thinking that before I know it I may need it.. As you well know things changed with going public, European expansion etc etc...So I thought that my future was looking good with job security and a decent pension which we all bust our tails to earn in addition to the wages that I felt were decent at the time. I was very content with my lot in life being at UPS. I still am content looking at others a lot less fortunate than me..To those who would of liked to not be in the pension, and invest on their own I believe maybe someday you will have that choice. I feel that if I had the $$$ given to me I would of blown it over the yrs...with that said I am now a happy camper enjoying my retirement out here in sunny AZ

 

[Jackburton]

I received the same letter that was posted here, so I can confirm it's legit.

 

[UnconTROLLed]

More and more reason to stay single, live frugally, save all of that OT and retire early and happily.

and also have the ability to last through a potential strike. If you are young, it's something to consider.

 

[upschuck]

Did they send it out to every retiree, or just those that are not covered under the UPS plan?

 

[Catatonic]

I myself when I started with UPS did not have a pot to pee in at age 30...With Divorces, support ,legal fees etc etc, and a lot of other stuff going on I did not really have the $$$ to do that. Was never really a saver however I did sign up for the 401k when it came out and it forced me to save. It paid off, but the pension when explained to me back in 81 was in my opinion at the time a nice benefit. At the time I did not really look to far into the future till after a few years thinking that before I know it I may need it.. As you well know things changed with going public, European expansion etc etc...So I thought that my future was looking good with job security and a decent pension which we all bust our tails to earn in addition to the wages that I felt were decent at the time. I was very content with my lot in life being at UPS. I still am content looking at others a lot less fortunate than me..To those who would of liked to not be in the pension, and invest on their own I believe maybe someday you will have that choice. I feel that if I had the $$$ given to me I would of blown it over the yrs...with that said I am now a happy camper enjoying my retirement out here in sunny AZ

The outlook in the 80's was a lot more rosy ... for everyone.

 

[PT Car Washer]

Did they send it out to every retiree, or just those that are not covered under the UPS plan?

Not sure what you mean here. I am under the UPS Pension Plan and I didn't' receive the letter. Guys I work with under the Central States Plan did receive the letter.

 

[Jackburton]

Did they send it out to every retiree, or just those that are not covered under the UPS plan?

Not sure what you mean but I've been FT for 15 years,some of my retirement is CS, other part is UPS, from what I've read. Like most things on MyUPS site, links are broke or have outdated information, the pension calculator leads to an error page. Got the letter in the mail yesterday, HTH.

 

[upschuck]

Not sure what you mean here. I am under the UPS Pension Plan and I didn't' receive the letter. Guys I work with under the Central States Plan did receive the letter.

Those who are under the UPS plan, UPS is making up the difference, so no need to send the letter and cause angst.

 

[PT Car Washer]

Those who are under the UPS plan, UPS is making up the difference, so no need to send the letter and cause angst.

I think you mean the joint UPS/Central States Plan. Yes they did receive the letter.

 

[UPSmechanicinblue]

Those who are under the UPS plan, UPS is making up the difference, so no need to send the letter and cause angst.

My letter arrived saturday in Michigan, As of now you are correct on not being concerned but in future hope your fellow brothers make sure it's in future contracts that UPS will make up the difference. If they dont your CS portion will be reduced and UPS for sure wont make up the difference.

 

[UPSmechanicinblue]

I think you mean the joint UPS/Central States Plan. Yes they did receive the letter.

anyone with time in CS will get a letter/ if your hired later or full time after we switched from CS to the UPS/Teamster you wont get one or need one

 

[upschuck]

My letter arrived saturday in Michigan, As of now you are correct on not being concerned but in future hope your fellow brothers make sure it's in future contracts that UPS will make up the difference. If they dont your CS portion will be reduced and UPS for sure wont make up the difference.

I prepare for the worst, but hope for the best.

 

[UPSmechanicinblue]

I prepare for the worst, but hope for the best.

I live every day like it's my last, I agree on your statement