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UPS Retirement Topics
Pension cuts?
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<blockquote data-quote="Hangingon" data-source="post: 83566" data-attributes="member: 4719"><p>Does the Bloomberg article posted on the front page mean that people that took the 25 and out, or even the 30 year retirement will have their pensions definitely cut if the provisions favored by UPS are passed in new legislation? Seems from the quote they had at the end '</p><p><em>That pain would be shared even by those who retired in the last year, including Tommy Burke, who drove a UPS truck for 38 years. ``I'd have to get another job if they cut my pension like they want to,'' says Burke, 61, who lives with his 84-year-old infirm mother in Fayetteville, North Carolina, on $2,798 a month. ``This provision would really hurt a lot of working people.'' Burke is ``disappointed in UPS,'' he says. ``I gave them nearly 40 years; $2,798 a month is not too much to ask.</em>'' ' that they are implying it will effect UPS retirees also.</p><p> I really hope that doesn't mean I have to work until 65 to get a full pension, doubt I could do it.</p><p><em>UPS and companies such as Overland Park, Kansas-based YRC Worldwide Inc., the biggest U.S. trucking company, say they are targeting early-retirement benefits -- even those already being paid out -- to ensure that people who stop working at 65 can get full benefits.</em></p></blockquote><p></p>
[QUOTE="Hangingon, post: 83566, member: 4719"] Does the Bloomberg article posted on the front page mean that people that took the 25 and out, or even the 30 year retirement will have their pensions definitely cut if the provisions favored by UPS are passed in new legislation? Seems from the quote they had at the end ' [I]That pain would be shared even by those who retired in the last year, including Tommy Burke, who drove a UPS truck for 38 years. ``I'd have to get another job if they cut my pension like they want to,'' says Burke, 61, who lives with his 84-year-old infirm mother in Fayetteville, North Carolina, on $2,798 a month. ``This provision would really hurt a lot of working people.'' Burke is ``disappointed in UPS,'' he says. ``I gave them nearly 40 years; $2,798 a month is not too much to ask.[/I]'' ' that they are implying it will effect UPS retirees also. I really hope that doesn't mean I have to work until 65 to get a full pension, doubt I could do it. [I]UPS and companies such as Overland Park, Kansas-based YRC Worldwide Inc., the biggest U.S. trucking company, say they are targeting early-retirement benefits -- even those already being paid out -- to ensure that people who stop working at 65 can get full benefits.[/I] [/QUOTE]
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