Let's face it. Defined benifit plans (pensions) are going the way of the dinosuars and that is extinct. For us guys under 40, we need to take a proactive approach to retirement. As the years go by we learn about pension plans from very reputable companies (GE comes to mind) being axed. Its only a matter of time that it happens at UPS. On the bright side, the Teamster-UPS 401(k) plan offers 11 or 12 funds, plus a self-managed account in which you can choose stocks from all publicly traded companies plus thousands of mutual funds. So here I am on my soap-box for the next contact. Let's get rid of the pension (its going to happen anyway, its just a matter of time) and go for a UPS match on our 401(k). Think about it. If UPS could give us, teamster employees, a 401(k) match or bonus in the amount that they are pouring down the drain in pension contributions, we would all be living a great retirement. Us under 40 guys and gals (not just UPS) are getting the stinky end of the stick. We're contributing to social security but will never collect it. UPS is contributing to the pension on our behalf and we will never collect. THAT either. So I hope in the next contract we can get rid of the pension and the money from that was previously contributed, UPS will match in the 401(k)'s or maybe a traditional IRA or evan a Roth IRA contribution. My 401k is kicking ass now that the market is doing well. If I could get help from UPS in the form of a match or a contribution to an IRA, I think it would be beneficial to both employee and employer(company wins because its not contributing to other companies' retiries and we win with a secure retiremient). Problem is, the teamsters wouldn't allow anyone to get their hands on THEIR money. My vote is to get rid of the pension plan and instead match us in the 401K and pay us (perhaps) in bonuses that can only be contributed into a Roth or traditiona IRA. When I turn 57 in 2030, I know my body is going to be on the brink. But if I invest early, smartly, and regularly, I will not need to be dependent on the teamster pension plan. So my approach is to plan as if that and SS and the teamster plan is not going to be there. God bless everyone.