Pensions...We all saw this coming.

bbsam

Moderator
Staff member
There's something dreadfully wrong in a system where elected officials and business leaders get together to legally steal hundreds of millions of dollars from millions of people.

It's only illegal until they say it's not.
 

Brownslave688

You want a toe? I can get you a toe.
What I thought multi employer plans were going to make this all better. What a joke.



The problem is ups paying $400 a week towards a pension and joes widgets paying $30 a week and they both get the same pension. Don't let the union make you think they are innocent.
 

brownmonster

Man of Great Wisdom
What I thought multi employer plans were going to make this all better. What a joke.



The problem is ups paying $400 a week towards a pension and joes widgets paying $30 a week and they both get the same pension. Don't let the union make you think they are innocent.
False. The amount your company pays in effects the amount you collect.
 

Brownslave688

You want a toe? I can get you a toe.
Why do pension plans keep blaming the stock market crash? I've made a fortune since 2000 and 2009 and I don't have a clue.
The only thing I will give them is while you and me can decide not to
Withdraw during the downturns they can't. Pension monies keeps coming out.

However downfalls always happen and this should be in the plan.
 

UpstateNYUPSer(Ret)

Well-Known Member
The problem is ups paying $400 a week towards a pension and joes widgets paying $30 a week and they both get the same pension. Don't let the union make you think they are innocent.

False. The amount your company pays in effects the amount you collect.

BM is right. Ours is a multi-employer plan and pension amounts depend upon contribution rates.

I would love to see the Company take over our pension plan.
 

oldngray

nowhere special
UPS pretty much did take over the pension plan (from Central States at least). UPS will guarantee pensions until you are 65 when it reverts to the Teamsters and after that if it defaults it would be backed as an ERISA plan with possible huge pension decreases.
 
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