The union will fight it hard. They could max out everyone of our 401k every year with the money that goes into our pension. Just average returns would give u at least 2-3 million after 30 years.
Guess what your pension gives u? 3k a month. Live 25 years and you'll only see 900k. PENSIONS ARE A MONSTER RIP OFF FOR US!!!!!!
Do a little math mon ami...You're doing numbers with todays contributions which most likely won't get returns as in the past and your expectation of 2-3 mil is way off. If I'm fortunate enough to not get run over by a bus and live to my life expectancy, I'll get over $1.15 ml from my Union controlled,
professionally managed, green zone Pension Fund that in my working years has received less than $250K on my behalf. So with
todays contribution rates of say $300 per week with a 6.5% yearly return (good luck with that rate, check CD's lately) you'll be lucky to have $1.3ml assuming 2008 doesn't hit again and you lose 33% of everything. And you're missing the big point. The union NEGOTIATES those contributions. UPS doesn't give them out of the goodness of their hearts (of which they seem to be lacking these days). You think this package would be available to you, the individual. Not a chance. It's available because of the collective strength of the organization, the same principle behind pensions. United we stand, divided we beg.