Yet another pension collapse under H. This one at local 707.

[Lead Belly]

In the 60's and 70's ??

What modern day organizing campaign.... focuses on that ?


You're out of the loop.



-Bug-

On on meth

 

[Lead Belly]

To the people of this forum how hard is it to put 12% in a 401K?

 

[Bubblehead]

To the people of this forum how hard is it to put 12% in a 401K?

Drivers, 22.3's, or part timers???

You always seem to forget that full time drivers are the minority.

 

[Lead Belly]

I was a part timer and as soon as I was eligible I loaded up on the 401k no excuses I always worked another job. Man wasn't meant to work 20 hours and cry the blues about why the pockets are light. That's a bitch move.

 

[Bubblehead]

I was a part timer and as soon as I was eligible I loaded up on the 401k no excuses I always worked another job. Man wasn't Kent to work 20 hours and cry the blues about why the pockets are light. That's a bitch move.

Who's Kent, and what's he got to do with it?

 

[Bubblehead]

I was a part timer and as soon as I was eligible I loaded up on the 401k no excuses I always worked another job. Man wasn't meant to work 20 hours and cry the blues about why the pockets are light. That's a bitch move.

Assuming that your situation was parallel to everybody else's is a "bitch" move.
You're a mess.

 

[BigUnionGuy]

Who's Kent ?

The guy on your delegate slate ?

 

[35years]

I can tell you not in the UPS/IBT plan. This thing is over 105% funded.

The 105% figure is misleading...


http://www.ibtupspensionfund.ups.com/content/UPS_IBT_AFN.pdf

The reporting laws were changed in 2012 to make pensions look more fully funded than they are, and lower the amount companies had to contribute to look 100% funded.
As of the last published report (December 31, 2014) the UPS/IBT fund had a Funding Shortfall of$1,095,788,642

"As of December 31, 2014, the fair market value of the Plan’s assets was $4,994,575,825. On this same date, the Plan’s liabilities, determined using market rates, were $6,036,761,451."


Under the old accounting rules the plan would have been only 78.6% funded.
Under the new accounting rules the 1 trillion dollar shortfall = 103% funded

Make no mistake, there was still a trillion dollar shortfall, the only thing that changed was the interest rate assumption.

This decreased UPS's minimum contribution by $444,415,385 for 2014 alone.

 

[Lead Belly]

The guy on your delegate slate ?

No that was the guy that peeded himself in Columbus. Classic

 

[BigUnionGuy]

This decreased UPS's minimum contribution by $444,415,385 for 2014 alone.

Check your math.


444 billion ??

Or million ?



-Bug-

 

[Lead Belly]

I was a part timer and as soon as I was eligible I loaded up on the 401k no excuses I always worked another job. Man wasn't meant to work 20 hours and cry the blues about why the pockets are light. That's a bitch move.

So if you make 10.50 an hour an work 20 hours a week. Your are 19 years s old. You make 210 a week before taxes you put 10 percent in your 401K. 21 bucks out of that check pretax. It's comes out to pretty close to the same. And you are setting yourself up for the future. You might have to miss a 12 of Miller highlife or a chipotle meal. Life can be hard. I was homeless at 15 and I made it. Oh but wait I'm feeling sorry for myself. Really I'm not I'm proving you can be successful even with the deck stacked against you. Wussy mentality some here.

 

[BigUnionGuy]

So if you make 10.50 an hour an work 20 hours a week. Your are 19 years s old. You make 210 a week before taxes you put 10 percent in your 401K. 21 bucks out of that check pretax. It's comes out to pretty close to the same. And you are setting yourself up for the future. You might have to miss a 12 of Miller highlife or a chipotle meal.

That is the workforce.

They all deserve a TDU trophy.... just for showing up.

Pfft.



-Bug-

 

[Lead Belly]

That is the workforce.

They all deserve a TDU trophy.... just for showing up.

Pfft.



-Bug-

I don't care who you are you can contribute to a freaking 401k. The only reason anyone has is just an excuse. Set yourself up is all I'm telling people. I do 12% I know guys maxed out way over that they build houses and live good lives. Vacation ect ect. Excuses are like buttholes everyone has one and there is evidently a couple here.

 

[Bubblehead]

So if you make 10.50 an hour an work 20 hours a week. Your are 19 years s old. You make 210 a week before taxes you put 10 percent in your 401K. 21 bucks out of that check pretax. It's comes out to pretty close to the same. And you are setting yourself up for the future. You might have to miss a 12 of Miller highlife or a chipotle meal. Life can be hard. I was homeless at 15 and I made it. Oh but wait I'm feeling sorry for myself. Really I'm not I'm proving you can be successful even with the deck stacked against you. Wussy mentality some here.

That is the workforce.
They all deserve a TDU trophy.... just for showing up.
Pfft.

I don't care who you are you can contribute to a freaking 401k. The only reason anyone has is just an excuse. Set yourself up is all I'm telling people. I do 12% I know guys maxed out way over that they build houses and live good lives. Vacation ect ect. Excuses are like buttholes everyone has one and there is evidently a couple here.

There's guy in my building who unloads package cars part time in the metro that is in his late 40's.
He works the twilight shift because he lost his career in 2008, when the economy crashed.
He has 4 kids (one has special needs), a mortgage, and another full time job before he comes to UPS.
I don't know if he puts 12% in a 401k or not, but I certainly do not consider him a "wuss" if he doesn't.
Pretty sure he doesn't even know what TDU is either.
I admire him and continue to think that you two are a mess, because you want to judge others against your own "bad hands".

 

[UpstateNYUPSer(Ret)]

Buy out what?

According to our BA, the Company has about a $2B unfunded liability to our pension plan.

 

[Bubblehead]

According to our BA, the Company has about a $2B unfunded liability to our pension plan.

If they do manage to buy out of your plan, don't think for a minute that they will guarantee your pension.
They learned their lesson with the Central States guarantee, which they are already scheming on how to wriggle out.

 

[bottomups]

Who's Kent, and what's he got to do with it?

 

[Bubblehead]

View attachment 74983

That's Clark.

 

[Lead Belly]

According to our BA, the Company has about a $2B unfunded liability to our pension plan.

Not to be a jerk Dave but for years you have been telling everyone how huge the payout was on your pension. Do you see that these astronomical monthly payments are unsustainable? I know you are the guy that loaded up on the 401K and I know you had a divorce but do you see if pensions were at payouts that were responsible even though people wouldn't like it it would be better for all.

In my case Ron Carey upped the pension across the board to at the time a very high monthly payment. He know that the orphans would drag the pension down but politically he did it to get reelected.

You have preached 401k's for years and being frugal. Hopefully people took that to heart.

 

[realbrown1]

The 105% figure is misleading...


http://www.ibtupspensionfund.ups.com/content/UPS_IBT_AFN.pdf

The reporting laws were changed in 2012 to make pensions look more fully funded than they are, and lower the amount companies had to contribute to look 100% funded.
As of the last published report (December 31, 2014) the UPS/IBT fund had a Funding Shortfall of$1,095,788,642

"As of December 31, 2014, the fair market value of the Plan’s assets was $4,994,575,825. On this same date, the Plan’s liabilities, determined using market rates, were $6,036,761,451."


Under the old accounting rules the plan would have been only 78.6% funded.
Under the new accounting rules the 1 trillion dollar shortfall = 103% funded

Make no mistake, there was still a trillion dollar shortfall, the only thing that changed was the interest rate assumption.

This decreased UPS's minimum contribution by $444,415,385 for 2014 alone.

Awww, you just ruined pink belly's day.