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<blockquote data-quote="Orion inc." data-source="post: 1981997" data-attributes="member: 58808">I don&#039;t think the ups/ibt pension system will die. Mine is funded at 103%. I&#039;m not depending on my pension when I retire but it sure will be nice to get it after 35 plus years. Imagine putting in close to that in management and receiving nothing. Sorry but I&#039;d rather receive that benefit for the time in. If someone isn&#039;t taking advantage of a 401k in this day then they&#039;re stupid. But I wouldn&#039;t rely on it completely to fund retirement. If you think a match is going to fund retirement , well you&#039;re putting all your eggs in one basket. It should be just one part of a strategy. But the point is, if you&#039;re no longer receiving a pension, you&#039;ll have to take that increase in salary and put it aside to make up for that. I mean if someone was smart. Top that with paying a few hundred or so for your health care to cover you and your dependents and you&#039;re not banking ahead in terms of the whole picture. That was my point. I highly doubt he was promoted as an ORS with a salary of 120,000 /year. Because if a driver can average 100,000/year, with no out of cost for health care or pension, then that&#039;s what they would have had to offer him to be ahead or break even with what he was compensated before. He actually probably took a pay/benefits cut when you factor in his increased costs now for that. That was my point. I&#039;ll agree with you that every individual should plan for their retirement as if you&#039;re receiving nothing. That wasn&#039;t my point.</blockquote>

[QUOTE="Orion inc., post: 1981997, member: 58808"] I don't think the ups/ibt pension system will die. Mine is funded at 103%. I'm not depending on my pension when I retire but it sure will be nice to get it after 35 plus years. Imagine putting in close to that in management and receiving nothing. Sorry but I'd rather receive that benefit for the time in. If someone isn't taking advantage of a 401k in this day then they're stupid. But I wouldn't rely on it completely to fund retirement. If you think a match is going to fund retirement , well you're putting all your eggs in one basket. It should be just one part of a strategy. But the point is, if you're no longer receiving a pension, you'll have to take that increase in salary and put it aside to make up for that. I mean if someone was smart. Top that with paying a few hundred or so for your health care to cover you and your dependents and you're not banking ahead in terms of the whole picture. That was my point. I highly doubt he was promoted as an ORS with a salary of 120,000 /year. Because if a driver can average 100,000/year, with no out of cost for health care or pension, then that's what they would have had to offer him to be ahead or break even with what he was compensated before. He actually probably took a pay/benefits cut when you factor in his increased costs now for that. That was my point. I'll agree with you that every individual should plan for their retirement as if you're receiving nothing. That wasn't my point. [/QUOTE]

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