Nys teamsters pension & retirement fund

[Brownslave688]

Here we go again....

Largest Pension Fund in the country.



-Bug-

By number of participants? Because I'll go out on a limb and say it's not by assets

 

[BigUnionGuy]

By number of participants? Because I'll go out on a limb and say it's not by assets

Multi-employer.


Here's another little gem.


"UPS has a significant interest in solving the pension crisis. It could be on the hook for up to $4 billion in plan contributions if the Central States plan becomes insolvent."

"The proposal avoids a taxpayer bailout and involves shared sacrifice among employers, unions, employees, and the government, he said."


Can UPS Proposal Fix Pension Crisis? Some Think It Can



-Bug-

 

[Brownslave688]

Multi-employer.


Here's another little gem.


"UPS has a significant interest in solving the pension crisis. It could be on the hook for up to $4 billion in plan contributions if the Central States plan becomes insolvent."

"The proposal avoids a taxpayer bailout and involves shared sacrifice among employers, unions, employees, and the government, he said."


Can UPS Proposal Fix Pension Crisis? Some Think It Can



-Bug-

That didn't answer my question. You said largest pension in the country.



Here's a little gem.



It's not.

 

[BigUnionGuy]

That didn't answer my question. You said largest pension in the country.



Here's a little gem.



It's not.

Multi-employer.

Being a Teamster....

I didn't think you would need that clarification.



-Bug-

 

[upschuck]

Here we go again....

Largest Pension Fund in the country.



-Bug-

3 years notice????

 

[BigUnionGuy]

3 years notice????

Ha !

I just caught that. Gotta be a typo.

 

[Brownslave688]

Being a Teamster....

I didn't think you would need that clarification.



-Bug-

Larger than the western conference?


Ups bought its way out once already. I imagine the wording in the contract holding them liable for any future benefits will soon be eliminated.


Just another pension that's proof that pensions aren't really in the employees best intrest.

 

[upschuck]

Larger than the western conference?


Ups bought its way out once already. I imagine the wording in the contract holding them liable for any future benefits will soon be eliminated.


Just another pension that's proof that pensions aren't really in the employees best intrest.

Properly run, they are.

 

[Brownslave688]

Properly run, they are.

Even properly ran their return on investment is poor.

 

[upschuck]

Even properly ran their return on investment is poor.

Professionals should be able to do better than you or I.

 

[Brownslave688]

Professionals should be able to do better than you or I.

Not really. Because they can never take the risks we can take for the first 20 years of our career.

 

[upschuck]

Not really. Because they can never take the risks we can take for the first 20 years of our career.

An actively managed account should get better return than a buy and hold type account.

Also high risk doesn't mean high returns, sometimes you take a bath.

 

[Brownslave688]

An actively managed account should get better return than a buy and hold type account.

Also high risk doesn't mean high returns, sometimes you take a bath.

Sometimes they take a bath too and when the market is down they still have to pay our benefits. Meaning they bleed money like it's nobody's business during downturns.

 

[BigUnionGuy]

Larger than the western conference?

More than twice the size ?

I imagine the wording in the contract holding them liable for any future benefits will soon be eliminated.

That would be beyond.... stupid.

In that case, you know what we have to do.

Just another pension that's proof that pensions aren't really in the employees best interest.

Properly run, they are.

Even properly ran their return on investment is poor.

Professionals should be able to do better than you or I.

Nobody is forcing you to work at UPS.


There are all kinds of jobs available.

Just name one.... with the same pay, benefits, and pension.


Here is a hint, there aren't many.



-Bug-

 

[Brownslave688]

An actively managed account should get better return than a buy and hold type account.

Also high risk doesn't mean high returns, sometimes you take a bath.

A pension is simply never going to touch the return on investment a 401k can.

The company will put in on average at least 25k per year on my behalf for my career.

25k x 35 = 875,000


That's with 0% return. At 4K a month payout I'll have to live 18 years into retirement just to get my money back


Or I could retire with 2-3 million and have all of that money to do with as I please at 59.5.


It's a no brainer.

 

[Brownslave688]

Nobody is forcing you to work at UPS.


There are all kinds of jobs available.

Just name one.... with the same pay, benefits, and pension.


Here is a hint, there aren't many.



-Bug-

Smdh. I don't want the pension and neither would anyone else with a brain if they actually looked into the numbers.


Just give me the money that goes into the pension. I'll end up way better off.

 

[BigUnionGuy]

Do you want to personally negotiate your working conditions at UPS ?

If you could.... you would.


But, you can't.



-Bug-

 

[Brownslave688]

Nobody is forcing you to work at UPS.




-Bug-

This right here is what turns many employees off to unions.


Instead of listening to what the employees want. They are told listen we know what's best for you. If you don't like it go work somewhere else.

 

[Brownslave688]

Do you want to personally negotiate your working conditions at UPS ?

If you could.... you would.


But, you can't.



-Bug-

The union is here to negotiate what WE WANT. Without us the union does not exist.


Getting away from this is why Hoffa needed Canada to squeak out a victory in the general election.

 

[BigUnionGuy]

The union is here to negotiate what WE WANT.

The IBT negotiates on behalf of all members.

Not just you.

Without us the union does not exist.

I don't see anyone running to the exit doors.

Just say'n....



-Bug-