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UPS Retirement Topics
Pension Protection Act
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<blockquote data-quote="ok2bclever" data-source="post: 54312"><p>Obviously, if the proposed changes aid in keeping the funds afloat that would certainly be considered a benefit to the workers affected.</p><p></p><p>It appears it will be at the cost of giving someone the authority to lower the benefit level in ways that are currently illegal.</p><p></p><p>While this is an unfortunate change it still would be preferrable to a more drastic 2/3rds drop to a government dole. </p><p></p><p>Making the process of the funds more accessible through fuller disclosures is desirable, but I don't see it as much of a tool regarding increasing other investments.</p><p></p><p>I already know the fund is in trouble and have now for years, but that doesn't give me any more capability to invest additional moneys that I don't have.</p><p></p><p>This is the same basic meaningless tenet that most economists or investment "strategists" make that you should invest more money into "savings for the future".</p><p></p><p>That is all well and good for those making tons of money, but the fifty thousand dollar area that a clerk makes with a family of four supports less and less ability to pay the everyday bills with the real cost of living increases (compared to the government cost of living index where they conveniently exclude major cost increase items like oil, etc) let alone leave surplus for increasing future savings.</p><p></p><p>And many families are not even making what a UPS clerk makes.</p></blockquote><p></p>
[QUOTE="ok2bclever, post: 54312"] Obviously, if the proposed changes aid in keeping the funds afloat that would certainly be considered a benefit to the workers affected. It appears it will be at the cost of giving someone the authority to lower the benefit level in ways that are currently illegal. While this is an unfortunate change it still would be preferrable to a more drastic 2/3rds drop to a government dole. Making the process of the funds more accessible through fuller disclosures is desirable, but I don't see it as much of a tool regarding increasing other investments. I already know the fund is in trouble and have now for years, but that doesn't give me any more capability to invest additional moneys that I don't have. This is the same basic meaningless tenet that most economists or investment "strategists" make that you should invest more money into "savings for the future". That is all well and good for those making tons of money, but the fifty thousand dollar area that a clerk makes with a family of four supports less and less ability to pay the everyday bills with the real cost of living increases (compared to the government cost of living index where they conveniently exclude major cost increase items like oil, etc) let alone leave surplus for increasing future savings. And many families are not even making what a UPS clerk makes. [/QUOTE]
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