UPS to freeze pension plans for nonunion staffers

[brownalltheway]

I'm hoping the union is next. They need to contribute to their health care and their pension. Why UPS continues to be part of a multi-union plan is crazy. I'll be laughing when u lose your pension.

 

[Brownslave688]

How many people are going to save a couple million? Not very realistic.

That's their own fault.

With ups putting a healthy amount into our 401k and employees putting at least 10% away we'd all retire millionaires

 

[MAKAVELI]

You lose potential growth?

Actually gain a shot at massive growth. I was buying stocks at half price essentially. That's 100% growth just when it gets back to even.

Massive? Sorry but there is a limit that you can put into your 401k. But to my point there are thousands of people who didn't recover like you think they have.
The Recession Hurt Americans' Retirement Accounts More Than Anybody Knew

 

[Brownslave688]

I'm hoping the union is next. They need to contribute to their health care and their pension. Why UPS continues to be part of a multi-union plan is crazy. I'll be laughing when u lose your pension.

 

[MAKAVELI]

That's their own fault.

With ups putting a healthy amount into our 401k and employees putting at least 10% away we'd all retire millionaires

Over how many years? And you better hope there isn't another Recession close to your retirement.

 

[UpstateNYUPSer(Ret)]

How many people are going to save a couple million? Not very realistic.

How many are going to have $100K or more?

 

[MAKAVELI]

How many are going to have $100K or more?

A lot more than $1 million +.

 

[Brownslave688]

Massive? Sorry but there is a limit that you can put into your 401k. But to my point there are thousands of people who didn't recover like you think they have.
The Recession Hurt Americans' Retirement Accounts More Than Anybody Knew

Yeah morons that pulled out at the bottom and didn't get back in for years or weren't smart enough to move their investments into less risky places as retirement neared.

100% growth in 3-4 years is massive

 

[Wally]

Not just management. This also hits the non-union hourly admin employees.

We call them "dead weight".

 

[Brownslave688]

How many are going to have $100K or more?

My wife has been working 3 years and has over 100k.


Everyone should retire with over 100k in their 401k.

 

[IVE GOTTA PACKAGE 4U]

Yeah morons that pulled out at the bottom and didn't get back in for years or weren't smart enough to move their investments into less risky places as retirement neared.

100% growth in 3-4 years is massive

It was hard not to move it. I just quit looking at it

 

[MenInBrown]

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

You didn't correct it. That recession began in 1995. I don't believe bush was president, but bush did continue the corrupt policies. Hopefully that will never happen again.

 

[Wally]

The problem with a 401k is it's not enough to retire on by itself. And all those pre tax contributions will be taxed when withdrawn, most likely at a higher rate.

How much does one need put away to retire? I would think it would need to be millions if you were to stop working at age 55?

 

[MAKAVELI]

Yeah morons that pulled out at the bottom and didn't get back in for years or weren't smart enough to move their investments into less risky places as retirement neared.


100% growth in 3-4 years is massive

The Recession Hurt Americans' Retirement Accounts More Than Anybody Knew
100% is fantasyland for the majority of middle class Americans.

The way American retirement accounts are set up suggests that an increasing number of workers, including those squarely in the middle class, will experience downward mobility in retirement. Of the 18 million workers aged between 55 and 64 in 2012, 4.3 million will be poor or near poor by the time they’re 65. And if current trends continue between 2013 and 2022, the number of poor or near-poor 65-year-olds will increase by 146 percent. These numbers are unlikely to change as long as retirement accounts are exposed to the fluctuations of financial markets and their uneven recoveries.

There is a fix: A guaranteed-retirement accountwould invest workers' retirement contributions in pooled accounts that guarantee a stable rate of return, immune from the ups and downs of the market. This stability heads off the possibility of becoming old and poor just because someone is the wrong age at the wrong time in market cycles. And it’d be a great improvement over the current system.

 

[MyTripisCut]

How much does one need put away to retire? I would think it would need to be millions if you were to stop working at age 55?

My financial advisor said our pension payment is worth about 3 Million dollars of investments.

 

[Indecisi0n]

 

[Wally]

The Recession Hurt Americans' Retirement Accounts More Than Anybody Knew
100% is fantasyland for the majority of middle class Americans.

The way American retirement accounts are set up suggests that an increasing number of workers, including those squarely in the middle class, will experience downward mobility in retirement. Of the 18 million workers aged between 55 and 64 in 2012, 4.3 million will be poor or near poor by the time they’re 65. And if current trends continue between 2013 and 2022, the number of poor or near-poor 65-year-olds will increase by 146 percent. These numbers are unlikely to change as long as retirement accounts are exposed to the fluctuations of financial markets and their uneven recoveries.

There is a fix: A guaranteed-retirement accountwould invest workers' retirement contributions in pooled accounts that guarantee a stable rate of return, immune from the ups and downs of the market. This stability heads off the possibility of becoming old and poor just because someone is the wrong age at the wrong time in market cycles. And it’d be a great improvement over the current system.

Downward mobility? Is that Cleveland or Detroit, or Florida?

 

[MAKAVELI]

Downward mobility? Is that Cleveland or Detroit, or Florida?

All of the above.

 

[BakerMayfield2018]

Downward mobility? Is that Cleveland or Detroit, or Florida?

CLE is on the upswing bro. Stop the hate.

 

[Wally]

That's their own fault.

With ups putting a healthy amount into our 401k and employees putting at least 10% away we'd all retire millionaires

10 percent? How we supposed to pay alimony and child support?