Pension deductions?

[UpstateNYUPSer(Ret)]

You misunderstand the pension contributions. It's $20k/year since 2013. When I started it was only $2.65/hr worked and it was not all compensible hours which means you could not hit the 2080 because of short months like February. We earned all compensible only a few contracts ago. This is why many older drivers delay retirement. The pension is not a dollar for dollar investment for the individual, it allows smaller barns to provide a better pension for their members than their numbers would allow. I, for one, am happy to bring up my Teamster brother and sisters who may not work at UPS.

Even the orphans?

 

[104Feeder]

I want control of my money. I have made great decisions so far in my life.

It's not hard at all, when young you invest in something with moderate risk (S&p 500/real estate) with a small amount of diversification in bonds, and commodities and when you get half way to your planned retirement date you want to start moving stuff to more secure safe investments.

It's really not complicated at all, anybody who cannot take a couple hours and learn simple investment strategies deserves Not to have anything.

It's my life and I like to control it, people who don't take control and make common sense decisions can pay the price. I don't feel bad

There are many non-union jobs where you can have complete control of what little the employer pays for you. This forum has already proved that it has zero effect on Teamster elections, it will have even less of an effect on Teamster pensions. Cry all you want but pensions aren't going anywhere.

 

[UpstateNYUPSer(Ret)]

There are many non-union jobs where you can have complete control of what little the employer pays for you. This forum has already proved that it has zero effect on Teamster elections, it will have even less of an effect on Teamster pensions. Cry all you want but pensions aren't going anywhere.

Times have changed and employees are much less reliant on their employers to take care of them from hire to retire.

Pensions are outdated.

401k's are the way to go.

 

[IVE GOTTA PACKAGE 4U]

Times have changed and employees are much less reliant on their employers to take care of them from hire to retire.

Pensions are outdated.

401k's are the way to go.

I wish they would have told me that. Decades ago

 

[Faceplanted]

There are many non-union jobs where you can have complete control of what little the employer pays for you. This forum has already proved that it has zero effect on Teamster elections, it will have even less of an effect on Teamster pensions. Cry all you want but pensions aren't going anywhere.

Let me ask you this. My pension contribution is technically mine right? So how is it fair I have other people making decisions (some bad) with my money. If most of the Pension funds were actual investment bankers they would have been let go/fired along time ago. The writing is on the wall.

I never agree with upstate but there is so much waste involved in the pension system and the whole system is really outdated, especially ours.

There are some very strong pensions out there but only some... Most of us don't fall under that catigory.

I hope to god that eventually some type of buy out option comes along. I will settle for fractions of the dollar to get a buy out and have my own control.

 

[UpstateNYUPSer(Ret)]

Let me ask you this. My pension contribution is technically mine right? So how is it fair I have other people making decisions (some bad) with my money. If most of the Pension funds were actual investment bankers they would have been let go/fired along time ago. The writing is on the wall.

I never agree with upstate but there is so much waste involved in the pension system and the whole system is really outdated, especially ours.

There are some very strong pensions out there but only some... Most of us don't fall under that catigory.

I hope to god that eventually some type of buy out option comes along. I will settle for fractions of the dollar to get a buy out and have my own control.

You would not gain control if there were to be a buyout. Control would pass from the Union to the Company.

 

[IVE GOTTA PACKAGE 4U]

Let me ask you this. My pension contribution is technically mine right? So how is it fair I have other people making decisions (some bad) with my money. If most of the Pension funds were actual investment bankers they would have been let go/fired along time ago. The writing is on the wall.

I never agree with upstate but there is so much waste involved in the pension system and the whole system is really outdated, especially ours.

There are some very strong pensions out there but only some... Most of us don't fall under that catigory.

I hope to god that eventually some type of buy out option comes along. I will settle for fractions of the dollar to get a buy out and have my own control.

Start saving

 

[Brownslave688]

You misunderstand the pension contributions. It's $20k/year since 2013. When I started it was only $2.65/hr worked and it was not all compensible hours which means you could not hit the 2080 because of short months like February. We earned all compensible only a few contracts ago. This is why many older drivers delay retirement. The pension is not a dollar for dollar investment for the individual, it allows smaller barns to provide a better pension for their members than their numbers would allow. I, for one, am happy to bring up my Teamster brother and sisters who may not work at UPS.

I get it but personally I'm not.

 

[IVE GOTTA PACKAGE 4U]

You misunderstand the pension contributions. It's $20k/year since 2013. When I started it was only $2.65/hr worked and it was not all compensible hours which means you could not hit the 2080 because of short months like February. We earned all compensible only a few contracts ago. This is why many older drivers delay retirement. The pension is not a dollar for dollar investment for the individual, it allows smaller barns to provide a better pension for their members than their numbers would allow. I, for one, am happy to bring up my Teamster brother and sisters who may not work at UPS.

friend* them
Seriously I am.not working my balls off to give my life savings away..it's my money
And u want it. I'd the other members don't like it ...they can.apply at Brown

 

[104Feeder]

Some people on here are seriously confused about what unionism and being a Teamster means. I am very glad those are in the minority. Unions are a three legged stool: Pensions, Healthcare, and Job Security.

 

[Brownslave688]

Some people on here are seriously confused about what unionism and being a Teamster means. I am very glad those are in the minority. Unions are a three legged stool: Pensions, Healthcare, and Job Security.

I love how your opinion is fact and the rest of us are wrong.

 

[upsgrunt]

Some people on here are seriously confused about what unionism and being a Teamster means. I am very glad those are in the minority. Unions are a three legged stool: Pensions, Healthcare, and Job Security.

Let me add a three legged stool hurts like hell coming out. It ain't at all unicorns and buttercups.

 

[Faceplanted]

Start saving

I already have 3 houses, 2 have 50+ % equity in them and one is paid.

I stopped investing as much as I was in my 401k. I only do 4% as of now I have a decent amount in there as of now. My goal right now is to pay 2/3 times my principal on the remaining mortgages. I have done the math and once paid off I can rent them and literally live of the rent they would provide. I also have a Roth IRA.

A little planning goes a long way.

I don't plan on any fetting any pension, I wish I could just get what is technically mine.

Many of our pensions lost the benefit of the doubt a long time ago, and you guys keep wanting us to pump raises and more money in there. Why????

 

[104Feeder]

Let me ask you this. My pension contribution is technically mine right? So how is it fair I have other people making decisions (some bad) with my money. If most of the Pension funds were actual investment bankers they would have been let go/fired along time ago. The writing is on the wall.

I never agree with upstate but there is so much waste involved in the pension system and the whole system is really outdated, especially ours.

There are some very strong pensions out there but only some... Most of us don't fall under that catigory.

I hope to god that eventually some type of buy out option comes along. I will settle for fractions of the dollar to get a buy out and have my own control.

No, it's not. It's money invested in the pension plan because of the hours worked. It's paid "on account of each full time employee" (or part time), not "into the account".

 

[Faceplanted]

No, it's not. It's money invested in the pension plan because of the hours worked. It's paid "on account of each full time employee" (or part time), not "into the account".

Your playing with words my friend.

I take it as a contribution payed on HOURS I WORK. Thus since a portion is based on my work hours, I feel it should be mine! How are my cedit hours not my money?

 

[UpstateNYUPSer(Ret)]

Some people on here are seriously confused about what unionism and being a Teamster means. I am very glad those are in the minority. Unions are a three legged stool: Pensions, Healthcare, and Job Security.

Nope.

I work 30 years.

I want mine.

 

[Ms.PacMan]

If we were given pension money in an account just like our 401k I think everyone could amass a sum for retirement. You would have to take away the ultra safe investments like the stable value fund though so that people, in a panic, couldn't sell low and transfer the funds to a very low interest investment or only invest ultra safe their entire career.

I think it would be foolproof. Just like a pension though, returns could be less then envisioned if a person happens to work during a crappy 30yr period.

UPS wouldn't want to do this though because IMO the turnover rate for drivers would increase if the money was portable.

 

[104Feeder]

I already have 3 houses, 2 have 50+ % equity in them and one is paid.

I stopped investing as much as I was in my 401k. I only do 4% as of now I have a decent amount in there as of now. My goal right now is to pay 2/3 times my principal on the remaining mortgages. I have done the math and once paid off I can rent them and literally live of the rent they would provide. I also have a Roth IRA.

A little planning goes a long way.

I don't plan on any fetting any pension, I wish I could just get what is technically mine.

Many of our pensions lost the benefit of the doubt a long time ago, and you guys keep wanting us to pump raises and more money in there. Why????

While I can only speak for the WCTPF, it's a better deal than most will get. You are already paid 30% more than our closest competitor on average. I would love to live in a world where I saw a 30% raise just dropped on us, but seriously, as someone said "it ain't all unicorns" and whatever, that, my friends, is a unicorn that Godiva is riding.

 

[Ms.PacMan]

Some people on here are seriously confused about what unionism and being a Teamster means. I am very glad those are in the minority. Unions are a three legged stool: Pensions, Healthcare, and Job Security.

Your Teamsters are not my Teamsters brother. I wish it weren't so.

 

[IVE GOTTA PACKAGE 4U]

No, it's not. It's money invested in the pension plan because of the hours worked. It's paid "on account of each full time employee" (or part time), not "into the account".

Basically we are throwing 25 k a year in the garbage