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UPS getting “BAD DEAL” in contract? Lol
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<blockquote data-quote="UpstateNYUPSer(Ret)" data-source="post: 5666447" data-attributes="member: 12570"><p>It is a bit more complicated than that.</p><p></p><p>It's not as if you have an account at the pension office in which contributions made on your behalf are deposited. Basically, you are working to pay my pension benefits while a future hire will be working to pay yours. There is no way that the Company could keep this arrangement intact if they were to carve out "your" money and deposit it in to "your" 401k. This would only work for future hires.</p><p></p><p>BTW, while it is much easier to liquidate a 401k, it is not as easy as you may think. There are specific rules which govern how the money can be passed down.</p></blockquote><p></p>
[QUOTE="UpstateNYUPSer(Ret), post: 5666447, member: 12570"] It is a bit more complicated than that. It's not as if you have an account at the pension office in which contributions made on your behalf are deposited. Basically, you are working to pay my pension benefits while a future hire will be working to pay yours. There is no way that the Company could keep this arrangement intact if they were to carve out "your" money and deposit it in to "your" 401k. This would only work for future hires. BTW, while it is much easier to liquidate a 401k, it is not as easy as you may think. There are specific rules which govern how the money can be passed down. [/QUOTE]
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UPS getting “BAD DEAL” in contract? Lol
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