UPS getting “BAD DEAL” in contract? Lol

[What'dyabringmetoday???]

Whatever you do, DO
NOT make any changes to your 401k. When you get to within 5 years of retirement you might think of moving some of your holdings in to more conservative investments before rolling the whole thing over to an IRA upon retirement. You can contribute to your IRA up to the annual max ($7K?) if you have at least that amount of EARNED income. Pensions and SS are UNEARNED income.

Thank you for all of your financial advice. It has definitely helped me out. Lol.

 

[Coldworld]

Thank you for all of your financial advice. It has definitely helped me out. Lol.

He’s a regular Dave Ramsey.

 

[DOK]

Then the match goes slowly….

I guess it can be negotiated. I like having my own account, out of the unions hands. With Yellow closing will our pension benefits get spread thinner affecting our monthly benefits from the Teamster’s pension?

 

[Zowert]

Dental plan! Lisa needs braces.

 

[Thebrownblob]

I guess it can be negotiated. I like having my own account, out of the unions hands. With Yellow closing will our pension benefits get spread thinner affecting our monthly benefits from the Teamster’s pension?

Yellow barely contributed since 2008 anyway.

 

[oldngray]

Yellow barely contributed since 2008 anyway.

Wasn't it only about 25% of what they owed?

 

[Thebrownblob]

Wasn't it only about 25% of what they owed?

Yep

 

[Over70irregs]

I guess it can be negotiated. I like having my own account, out of the unions hands. With Yellow closing will our pension benefits get spread thinner affecting our monthly benefits from the Teamster’s pension?

Good question. We know they were ran bad for years. We cannot run bad cause we have stockholders. We are a leading world indicator of sorts. No one is impenetrable.

 

[hellfire]

Never gonna happen.

The pension fund is already nearly insolvent. Do you really think the government is going to write a check every decade to bail it out? Simple math The pension will go away .

 

[Thebrownblob]

The pension fund is already nearly insolvent. Do you really think the government is going to write a check every decade to bail it out? Simple math The pension will go away .

Which pension fund are you talking about? Central states has enough money for the next 30 years, after that you could be correct. Although in 30 years, there’s gonna be a lot less people drawings on it if you know what I mean.

 

[MECH-II]

I thought we weren’t going to work another day passed aug 1st without a contract? Did mr. OBRIEN bluff ?

 

[Up In Smoke]

The pension fund is already nearly insolvent. Do you really think the government is going to write a check every decade to bail it out? Simple math The pension will go away .

The government played a large roll in its' demise, why shouldn't they help with its' restructuring?

 

[Thebrownblob]

The government played a large roll in its' demise, why shouldn't they help with its' restructuring?

Yep, deregulation decimated hundreds of trucking companies leaving orphans in these pension plans.

 

[upser2020]

Some of you mention portability with 401k but isn't it true that once you hit your vesting requirements (I think it's 5 years where I'm at) that even if you leave you still get whatever pension you've earned once you retire?

 

[Thebrownblob]

Some of you mention portability with 401k but isn't it true that once you hit your vesting requirements (I think it's 5 years where I'm at) that even if you leave you still get whatever pension you've earned once you retire?

Yes, perhaps

 

[Boston25]

I thought we weren’t going to work another day passed aug 1st without a contract? Did mr. OBRIEN bluff ?

Without a tentative agreement. There’s a tentative agreement for us to view and vote on.

 

[IVE GOTTA PACKAGE 4U]

I thought we weren’t going to work another day passed aug 1st without a contract? Did mr. OBRIEN bluff ?

Just be happy you have a job

 

[Zowert]

Just be happy you have a job

I mean you’re right, we could be one of those minorities doing gig work out of a Prius, which we don’t even own. Shacking up in a 500 sq-foot studio apartment with four roommates, who are also UberEats and Lyft drivers. Our economy is creating more and more cheap gig work, where you make just enough to survive and you’re never able to actually own anything.

 

[IVE GOTTA PACKAGE 4U]

I mean you’re right, we could be one of those minorities doing gig work out of a Prius, which we don’t even own. Shacking up in a 500 sq-foot studio apartment with four roommates, who are also UberEats and Lyft drivers. Our economy is creating more and more cheap gig work, where you make just enough to survive and you’re never able to actually own anything.

Or have an honest chance at a retirement

 

[MECH-II]

Just be happy you have a job

BOOMER PHRASE ALERT