I don't know about that . Freeze the pension and pay that money into my 401k
Progress made in the Third & Fourth Rounds of UPS Contract Negotiations
- Thread starter Catatonic
- Start date
upschuck
Well-Known Member
I could not care less if you believe me or not, that is your prerogative. All I can do is inform you.
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In control of own destiny
I just don't believe ups will balance everyone out. They have the upper hand. They know they have the teamsters by the nuts. They will look for a lot in return. The union has no choice. In the end
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upschuck
Well-Known Member
I wouldn't be opposed to that, I think.
upschuck
Well-Known Member
I don't believe it for a second, because some would have to be lowered.
It would be good for everyone. Well the employees and the company. I'm sure it wouldn't make the union happy.
3 done 3 to go
In control of own destiny
I believe that will happen. Before ups takes over pensions. Our fund has 14k retirees vs 9k actives. Unsustainable
3 done 3 to go
In control of own destiny
Totally agree with this option
It would take the future liability away from UPS, which the shareholders would love. And let you be in control of your own destiny like most of America has to deal with.
3 done 3 to go
In control of own destiny
Especially now most let you roll over. If you want out too.
You can move your 401k anywhere you want to, after you retire. I'm not keeping my money there when I retire
upschuck
Well-Known Member
Would be if properly managed, since funds being withdrawn would have no correlation with monies currently being contributed.
ski or die
Ski or Die
B. Madoff is available. He has quite a bit of time on his hands and he has a lot of experience handling investments.
DriveInDriveOut
Inordinately Right
Problem is idiots would pull money out of it. Pensions work because you can't do that.
My investments ate doing far better than what the pension plan is doing.
DriveInDriveOut
Inordinately Right
WDFD
Out 401k plan is pretty strict compared to many others.
Bottom line, that my money! Part of my pay package. I worked for it and earned it.
You crawfish eating SOB
DriveInDriveOut
Inordinately Right
Imagine a scenario where idiots are pulling the money out of the 401k match every year like it's part of their pay. You know people would do it, there's tons of debt slaves around here. Maybe they end up accepting less in raises because of it....
I know people don't like how the pension is managed, but it's a safety net, just like social security. I like having it.
ski or die
Ski or Die
I agree with the monetary suicide. Our Local has been conservative. Seeing the numbers of some of the other locals pensions shows they are substantially higher monthly. Everyone would love to have that higher amount, but just like a 401k, burn through it faster each month our be conservative so you can live comfortably the rest of your life. But our Local has managed to keep our fund solidly funded and gives us a lot less worries of having our pension cut.
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