UPS to freeze pension plans for nonunion staffers

[IVE GOTTA PACKAGE 4U]

Almost none of the above are chiefs and if UPS relied upon just Operations to survive, UPS would be out of business.

You would crap yourself if you seen how they run this place now.

 

[MAKAVELI]

It always rebounds ... look at 2008-2009.
Investors had recovered by 2013 and the market has been restrained since 2013 but is going bonkers now that Obama is gone.

Oh it will go bonkers the other way when Drumpf quits or is impeached.

 

[Catatonic]

You still lose the potential growth during the time it takes to rebound. Like I said both are a risk, but taking away that pension is still going to hurt and lose a lot of security when it comes time to retire.

Tell that to @Jones ... he thinks Obama was great because the market rebounded from the March 2009 low.
It took 5 years to get back to where it was in June 2008.
But luckily for us all, Trump is in there now.

 

[Catatonic]

You would crap yourself if you seen how they run this place now.

I know that got a lot more rules than when I was an employee.

 

[Turdferguson]

At least current UPS management can't take my pension and healthcare away from me.
You time will come when your pension and healthcare will be sacrificed so current UPS Drivers can get that extra dollar per hour.

Zip your pants back up. It ain't going to happen. No matter how much you want it to

 

[MAKAVELI]

Tell that to @Jones ... he thinks Obama was great because the market rebounded from the March 2009 low.
It took 4 years to get back to where it was in June 2008.
But luckily for us all, Trump is in there now.

I don't blame Obama for the rebound but I do blame Bush for the Recession that wiped out $billions of 401k savings.

 

[Catatonic]

You still lose the potential growth during the time it takes to rebound. Like I said both are a risk, but taking away that pension is still going to hurt and lose a lot of security when it comes time to retire.

I know several UPSers who had over a million in their 401k when they retired and we couldn't even contribute until 1990.
For me, that was 20 years with NO contributions.
Imagine what I would have if I could have contributed when I was in my early 20's.

 

[Catatonic]

Zip your pants back up. It ain't going to happen. No matter how much you want it to

You sold the current retiree's out ... what makes you think these @Barneys will not sell you out?

 

[Turdferguson]

You sold the current retiree's out ... what makes you think these @Barneys will not sell you out?

Whatever.....


I didn't sell anyone out. Plus I have been in the 401k since about about 95, plus weekly stock contributions and if it gets too bad there is always welfare and food stamps so that you have to pay for me.
IN YOUR FACE!!!!!

 

[Catatonic]

I don't blame Obama for the rebound but I do blame Bush for the Recession that wiped out $billions of 401k savings.

That's fair ... he had as much to do with the recession as Obama had to do with the recovery.

 

[olroadbeech]

should be an eye opener to hourlies that want that dollar raise every year.

take less upfront to secure a better retirement. you'll be there before you know it and have to depend on hourlies to keep your pension strong.

scary now that i am retired.

fortunately , I maxed out the 401k every year and since my spouse did not work and we made less than the IRA threshold I was able to max out our IRA's too.

don't ever depend on one source of retirement income. pay off house, max 401k and IRA's if you can , pay off cars and all other debt and save, save, save cash.

 

[MAKAVELI]

That's fair ... he had as much to do with the recession as Obama had to do with the recovery.

I have to correct my post. It was actually $trillons lost in 401k savings during the Bush Recession.

 

[Jackburton]

1) They will still have the funding that is contributed up through Dec 31, 2022.
2) Correct

1 (Continued) - I imagine UPS will have a forced buy-out at some point but this is based on what other Fortune 500 corps have done.

Thanks for the clarification.

 

[jayson Cowden]

Can anyone tell me what the retirement picture is for part time union members? The company holds that retirement plan I believe?

 

[Jackburton]

Not yet but that is on that UPS Horizon.

And the same result would incur that it has with management, nothing keeping the driving position a revolving door, at least for the "current" 4 year progression time.

 

[IVE GOTTA PACKAGE 4U]

Can anyone tell me what the retirement picture is for part time union members? The company holds that retirement plan I believe?

It's different everywhere. It's not one big national plan.

 

[burrheadd]

should be an eye opener to hourlies that want that dollar raise every year.

take less upfront to secure a better retirement. you'll be there before you know it and have to depend on hourlies to keep your pension strong.

scary now that i am retired.

fortunately , I maxed out the 401k every year and since my spouse did not work and we made less than the IRA threshold I was able to max out our IRA's too.

don't ever depend on one source of retirement income. pay off house, max 401k and IRA's if you can , pay off cars and all other debt and save, save, save cash.

Thank you Suze Orman

 

[IVE GOTTA PACKAGE 4U]

should be an eye opener to hourlies that want that dollar raise every year.

take less upfront to secure a better retirement. you'll be there before you know it and have to depend on hourlies to keep your pension strong.

scary now that i am retired.

fortunately , I maxed out the 401k every year and since my spouse did not work and we made less than the IRA threshold I was able to max out our IRA's too.

don't ever depend on one source of retirement income. pay off house, max 401k and IRA's if you can , pay off cars and all other debt and save, save, save cash.

Guess what. Our pension plan is in bad shape. Give me my dollar raise to put in my 401k

 

[Jackburton]

I know that got a lot more rules than when I was an employee.

Not really, you can have late air all the time, grow beards, and only show up 3 days a week to work.

 

[jayson Cowden]

It's different everywhere. It's not one big national plan.

Oh ok thanks