The Concept of a Pension Should be Offensive to People

[tourists24]

Exactly I'm all for a 401K match but 90% of the people we work with would not put a dime in it.

Yep, would be a hard sale. Many would rather have the money now and wait for a smaller pension payout

 

[Wally]

I’m only getting 3K a month. 900 @ 4% is how I figured. .. but I’ve drawn it now for 15 years.

I would think you might need close to 1.75- 2 million in that account by retirement time at 55. How much do you need to set aside weekly to reach that number in 30 years?

 

[UnionStrong]

As a certified dream interpreter, this dream means all those stops you hid , NI, and NSP, are coming back to haunt you.

You laugh, I got back to the bldg once, years ago with some stops I didn’t do and there was a snap truck audit going on. I came around the corner and my center manager was standing at the overhead with a clipboard! By the grace of god he was looking the other way so he didn’t see me. I just kept going and turned into another door at the metro center. I backed up to that belt and threw all the out. Then I went to my center, with no packages. Close one.

 

[UnionStrong]

Why not do both????? Have a pension AND 401K.

Bingo

 

[BrownFlush]

We should have both, it’s an easy sell to UPS next contract, unfortunately there is no motivation for the union to push for it

We went on strike to keep the pension. Do not give it away. Anything you give the company control over is not good.
There is no motivation because that is too much money coming in.

 

[BrownFlush]

I would think you might need close to 1.75- 2 million in that account by retirement time at 55. How much do you need to set aside weekly to reach that number in 30 years?

I’m a retired caveman truck driver, Wally. I’ll be dead in 30. I’m figuring how much I need to spend weekly so I won’t have a nickel left when I breathe my last.

 

[Wally]

Right now in 2024, if you are 35 years old or younger, All you have to do is contribute $23,000 per year for 3 years. Only 3 years. And you will have $1 million in your 401k by age 65 as long as you make sure your investment is going into the s&p 500 fund and not the garbage target date funds that your 401k defaults to. It is utterly simple.

Lol, $23,000 extra just laying around when you have that mortgage, wife, 2 kids, and one one the way...

 

[Wally]

I’m a retired caveman truck driver, Wally. I’ll be dead in 30. I’m figuring how much I need to spend weekly so I won’t have a nickel left when I breathe my last.

I believe life expectancy for a male to be around 84.

 

[tourists24]

Lol, $23,000 extra just laying around when you have that mortgage, wife, 2 kids, and one one the way...

Not to mention that you can't touch that 401k til you're almost 60. Not sure how much more you could make without a pension and just a contractual 401k match than you could with a pension plus doing your own 401k

 

[UnionStrong]

I believe life expectancy for a male to be around 84.

Wrong. More like 74.

 

[tourists24]

Wrong. More like 74.

Or if you're married it's like 61 right? lol

 

[BrownFlush]

I believe life expectancy for a male to be around 84.

17 to go if I make it
That would be $1,152,000. 00 in pension checks. I have $172,000 in it.

 

[Thebrownblob]

You laugh, I got back to the bldg once, years ago with some stops I didn’t do and there was a snap truck audit going on. I came around the corner and my center manager was standing at the overhead with a clipboard! By the grace of god he was looking the other way so he didn’t see me. I just kept going and turned into another door at the metro center. I backed up to that belt and threw all the out. Then I went to my center, with no packages. Close one.

 

[IVE GOTTA PACKAGE 4U]

Or if you're married it's like 61 right? lol

Right before your life insurance expires

 

[Johney]

That's not a lot of money on California

Do you live in California? Then MYOFB.

 

[IVE GOTTA PACKAGE 4U]

Do you live in California? Then MYOFB.

Isn't it time for your nap?

 

[rod]

I believe life expectancy for a male to be around 84.

According to SS the life expectancy for a man is 74.12 years and for a woman is 79.25. I didn't realize I had passed that hurtle.

 

[Over70irregs]

You’re not wrong sometimes when we’re watching movies and there’s a UPS truck driving in the background, I point to the TV and yell out “there’s a UPS truck”. can’t even enjoy a good movie.

It’s a cult

 

[Johney]

We need a massive mentality shift in this company regarding the pension. The pension is the biggest bait-and-switch you can imagine. We should have been pushing for a strong 401(k) match YEARS ago. Instead, the ignorant working majority in this company for generations have decided they would rather work until they're 65 in order to collect some measly corporate welfare check, rather than take proactive charge of their financial life and invest heavily in their 30's. Thanks to our culture of financial irresponsibility at UPS, workers are left having to contribute the full amount of $23,000 to their 401k's in 2024.

I’ll keep that in mind while I keep cashing my $3200 a month pension checks I’ve been collecting for two years now since age 56 and not having to touch the few hundred thousand in my 401k.

 

[Over70irregs]

According to SS the life expectancy for a man is 74.12 years and for a woman is 79.25. I didn't realize I had passed that hurtle.

Donate blood. Live longer n collect more checks