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<blockquote data-quote="FracusBrown" data-source="post: 786202" data-attributes="member: 29360"><p>Nope, not sure. That's why I said "I think." The general perception in my area is that they get no pension. Oddly, I can't find and information through UPS sources (UPSers). It may have been covered in the summary plan description disc. The summary plan desc is no longer posted. </p><p> </p><p>I did find some information on the internet that supports what you said. It appears that the get a percentage of their compensation contributed to an annuity type plan based upon "points" Points are a combination of age and years of service. schedule A. Too much to read</p><p> </p><p> <a href="http://www.wikinvest.com/stock/United_Parcel_Service_(UPS)/Filing/10-K/2008/Ups_Retirement_Plan%2C_As_Amended_and_Restated/D30143" target="_blank">http://www.wikinvest.com/stock/United_Parcel_Service_(UPS)/Filing/10-K/2008/Ups_Retirement_Plan,_As_Amended_and_Restated/D30143</a></p><p style="text-align: center"><span style="font-family: 'Times New Roman'"><span style="font-size: 9px"><strong>Portable Account</strong></span></span></p> <p style="text-align: center"><span style="font-family: 'Times New Roman'"><span style="font-size: 9px"><strong>Points as of January 1</strong></span></span></p><p><span style="font-size: 9px"> </span><span style="font-family: 'Times New Roman'"><span style="font-size: 9px"><strong>Portable Account</strong></span></span></p><p><span style="font-family: 'Times New Roman'"><span style="font-size: 9px"><strong>Formula Schedule A</strong></span></span> <span style="font-family: 'Times New Roman'"><span style="font-size: 9px"><strong>Portable Account</strong></span></span></p><p><span style="font-family: 'Times New Roman'"><span style="font-size: 9px"><strong>Formula Schedule B</strong></span></span> <span style="font-family: 'Times New Roman'"><span style="font-size: 10px">Less than 35</span></span><span style="font-size: 9px"> </span><span style="font-family: 'Times New Roman'"><span style="font-size: 10px">5.0</span></span><span style="font-family: 'Times New Roman'"><span style="font-size: 10px">%</span></span> <span style="font-family: 'Times New Roman'"><span style="font-size: 10px">2.5</span></span><span style="font-family: 'Times New Roman'"><span style="font-size: 10px">%</span></span><span style="font-family: 'Times New Roman'"><span style="font-size: 10px">35-54</span></span><span style="font-size: 9px"> </span><span style="font-family: 'Times New Roman'"><span style="font-size: 10px">6.0</span></span><span style="font-family: 'Times New Roman'"><span style="font-size: 10px">%</span></span> <span style="font-family: 'Times New Roman'"><span style="font-size: 10px">3.0</span></span><span style="font-family: 'Times New Roman'"><span style="font-size: 10px">%</span></span><span style="font-family: 'Times New Roman'"><span style="font-size: 10px">55-74</span></span><span style="font-size: 9px"> </span><span style="font-family: 'Times New Roman'"><span style="font-size: 10px">7.0</span></span><span style="font-family: 'Times New Roman'"><span style="font-size: 10px">%</span></span> <span style="font-family: 'Times New Roman'"><span style="font-size: 10px">4.0</span></span><span style="font-family: 'Times New Roman'"><span style="font-size: 10px">%</span></span><span style="font-family: 'Times New Roman'"><span style="font-size: 10px">75 or more</span></span><span style="font-size: 9px"> </span><span style="font-family: 'Times New Roman'"><span style="font-size: 10px">8.0</span></span><span style="font-family: 'Times New Roman'"><span style="font-size: 10px">%</span></span> </p><p></p><p> </p><p>I stand corrected, I think...</p><p></p><p></p><p></p><p>I stand corrected on the Portable pension. I agree that overall our compensation is pretty good, however I find the "positive" spin placed upon the changes that result in reductions to be insulting and dishonest by omission in most cases. </p><p> </p><p>I like to think of my "pessimism" as openly honest with a reality "spin."</p></blockquote><p></p>
[QUOTE="FracusBrown, post: 786202, member: 29360"] Nope, not sure. That's why I said "I think." The general perception in my area is that they get no pension. Oddly, I can't find and information through UPS sources (UPSers). It may have been covered in the summary plan description disc. The summary plan desc is no longer posted. I did find some information on the internet that supports what you said. It appears that the get a percentage of their compensation contributed to an annuity type plan based upon "points" Points are a combination of age and years of service. schedule A. Too much to read [URL]http://www.wikinvest.com/stock/United_Parcel_Service_(UPS)/Filing/10-K/2008/Ups_Retirement_Plan%2C_As_Amended_and_Restated/D30143[/URL] [CENTER][FONT=Times New Roman][SIZE=1][B]Portable Account Points as of January 1[/B][/SIZE][/FONT][/CENTER] [SIZE=1] [/SIZE][FONT=Times New Roman][SIZE=1][B]Portable Account Formula Schedule A[/B][/SIZE][/FONT][SIZE=1] [/SIZE][SIZE=1] [/SIZE][FONT=Times New Roman][SIZE=1][B]Portable Account Formula Schedule B[/B][/SIZE][/FONT][SIZE=1] [/SIZE][FONT=Times New Roman][SIZE=2]Less than 35[/SIZE][/FONT][SIZE=1] [/SIZE][FONT=Times New Roman][SIZE=2]5.0[/SIZE][/FONT][FONT=Times New Roman][SIZE=2]%[/SIZE][/FONT][SIZE=1] [/SIZE][FONT=Times New Roman][SIZE=2]2.5[/SIZE][/FONT][FONT=Times New Roman][SIZE=2]%[/SIZE][/FONT][FONT=Times New Roman][SIZE=2]35-54[/SIZE][/FONT][SIZE=1] [/SIZE][FONT=Times New Roman][SIZE=2]6.0[/SIZE][/FONT][FONT=Times New Roman][SIZE=2]%[/SIZE][/FONT][SIZE=1] [/SIZE][FONT=Times New Roman][SIZE=2]3.0[/SIZE][/FONT][FONT=Times New Roman][SIZE=2]%[/SIZE][/FONT][FONT=Times New Roman][SIZE=2]55-74[/SIZE][/FONT][SIZE=1] [/SIZE][FONT=Times New Roman][SIZE=2]7.0[/SIZE][/FONT][FONT=Times New Roman][SIZE=2]%[/SIZE][/FONT][SIZE=1] [/SIZE][FONT=Times New Roman][SIZE=2]4.0[/SIZE][/FONT][FONT=Times New Roman][SIZE=2]%[/SIZE][/FONT][FONT=Times New Roman][SIZE=2]75 or more[/SIZE][/FONT][SIZE=1] [/SIZE][FONT=Times New Roman][SIZE=2]8.0[/SIZE][/FONT][FONT=Times New Roman][SIZE=2]%[/SIZE][/FONT][SIZE=1] [/SIZE] I stand corrected, I think... I stand corrected on the Portable pension. I agree that overall our compensation is pretty good, however I find the "positive" spin placed upon the changes that result in reductions to be insulting and dishonest by omission in most cases. I like to think of my "pessimism" as openly honest with a reality "spin." [/QUOTE]
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