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Youngsters Retirement
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<blockquote data-quote="j13501" data-source="post: 785955" data-attributes="member: 918"><p>I believe that UPS doesn't care that it's portable. The real savings to UPS is in ending the traditional pension plan. These past 2 years are a good example. When the stock market nosedived in 2008 & 2009, many people in various other businesses had their "retirement plan" (401K plan) assets reduced by up to 40%. All the burden of retirement savings is on the employee- the companies matching contributions are constant. For those of us who get or will get a UPS pension, the burden of ensuring that the plan has enough retirement dollars, is on the company.</p><p> </p><p>The question that I have concerns the end of the 401K match (which I believe is being re-instituted in January). Did the younger UPS supervisors and managers, the ones that don't qualify for the traditional pension plan, also lose their match? I can understand the older management people losing the match because we are covered by the pension plan. But the younger management people don't have a pension, so the match is their only UPS contribution.</p></blockquote><p></p>
[QUOTE="j13501, post: 785955, member: 918"] I believe that UPS doesn't care that it's portable. The real savings to UPS is in ending the traditional pension plan. These past 2 years are a good example. When the stock market nosedived in 2008 & 2009, many people in various other businesses had their "retirement plan" (401K plan) assets reduced by up to 40%. All the burden of retirement savings is on the employee- the companies matching contributions are constant. For those of us who get or will get a UPS pension, the burden of ensuring that the plan has enough retirement dollars, is on the company. The question that I have concerns the end of the 401K match (which I believe is being re-instituted in January). Did the younger UPS supervisors and managers, the ones that don't qualify for the traditional pension plan, also lose their match? I can understand the older management people losing the match because we are covered by the pension plan. But the younger management people don't have a pension, so the match is their only UPS contribution. [/QUOTE]
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