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<blockquote data-quote="Bagels" data-source="post: 1126250" data-attributes="member: 43436"><p>I completely agree that the union will fight to control the $$$ associated with the pension -- just as I believe UPS will not relinquish control of the money associated with the remaining company-controlled benefit plans. </p><p></p><p>That said, I'm flabbergasted that you believe UPS would make an identical contribution toward our 401K that it currently makes toward our pension. We did not negotiate a specific hourly pension contribution, but rather a fixed retirement disbursement & UPS makes contributions to reach such disbursements. It'd be naive to think that such payments would remain equal should UPS transition toward a 401K -- as I mentioned earlier, the initial point of a 401K was to alleviate often unfair financial burdens of pension programs for some companies, although it's worked out for employees as well. Of course, there's no guarantee we'll continue to see the returns we've seen within the markets over the past 20 years, with many predicting otherwise.</p></blockquote><p></p>
[QUOTE="Bagels, post: 1126250, member: 43436"] I completely agree that the union will fight to control the $$$ associated with the pension -- just as I believe UPS will not relinquish control of the money associated with the remaining company-controlled benefit plans. That said, I'm flabbergasted that you believe UPS would make an identical contribution toward our 401K that it currently makes toward our pension. We did not negotiate a specific hourly pension contribution, but rather a fixed retirement disbursement & UPS makes contributions to reach such disbursements. It'd be naive to think that such payments would remain equal should UPS transition toward a 401K -- as I mentioned earlier, the initial point of a 401K was to alleviate often unfair financial burdens of pension programs for some companies, although it's worked out for employees as well. Of course, there's no guarantee we'll continue to see the returns we've seen within the markets over the past 20 years, with many predicting otherwise. [/QUOTE]
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