UPS retirement?

[mrvmo]

Why would there be NO way we will have the A plan down the road? I think really the only way we will NOT have an A plan it is if for some reason we as a union give it up (not likely), or if UPS goes bankrupt( Could happen sometime, but hopefully not.) Other than that I don't believe the A plan can be terminated.

 

[capt. megadeth]

Why would there be NO way we will have the A plan down the road? Other than that I don't believe the A plan can be terminated.

Uh huh.....suuuuuure.

I am sure guys at United thought there would be NO way to lose everything they lost back in the day.

 

[highsky]

Uh huh.....suuuuuure.

I am sure guys at United thought there would be NO way to lose everything they lost back in the day.

Generally speaking, I share your pessimism toward the continued viability of defined benefit pensions (A fund) in any industry, airline or otherwise.

That said, United has never come anywhere near the $4 billion profit that UPS made last year. Pax airlines all operate on thin profit margins, and are therefore much more vulnerable to difficult macroeconomic conditions. They look toward labor concessions when the going gets tough. It's like they're in a totally different industry. They just have airplanes in common.

 

[AC560]

That said, United has never come anywhere near the $4 billion profit that UPS made last year.

UPS though in fairness is a trucking company not an airline.

I would be working to get rid of my defined pension (if I had one) and its assets transfered to a 401K with a mandated company match going forward. You still get the benefit of a company provided pension with the added safety of controlling your own money; and being able to take it with you to your next job.

 

[Tanner]

Uh huh.....suuuuuure.

I am sure guys at United thought there would be NO way to lose everything they lost back in the day.

They lost their pension through the bankruptcy process, ruled by a judge. Mgmt. didn't just take it away! Now if you are implying that UPS will be bankrupt in coming years that's a different story. Hell' we can "IF" all day......."If the world runs out of oil", "If we are replaced with UAV's" If YOU get hit by a bus!"

 

[mrvmo]

They went bankrupt right?.......a senario I stated in which we COULD lose the benefit. The A plan is a contractual product that was fought for by those prior to us. It can only be lost in the two ways I stated earlier. Or if the company goes TU. (Again highly unlikely, but possible.)

 

[Aviator7576]

I think ups will go bankrupt the day after the federal government does. In fact, ups has never missed a payday; I can't say the same about the navy. The A plan at ups is the safest of any airlines (I know, it's all relative) and there would be an awful lot of hoops to jump through before anyone could make it just go away.

JMO

Aviator7576

 

[capt. megadeth]

Well, I hope you all are right. All I am saying is never say never and I definitely am not counting on getting it. If I do.....great! But I am not going to expect it to be there since I would not put anything past lawmakers and management.

 

[L'il J.Seinfeld]

Why would there be NO way we will have the A plan down the road? I think really the only way we will NOT have an A plan it is if for some reason we as a union give it up (not likely), or if UPS goes bankrupt( Could happen sometime, but hopefully not.) Other than that I don't believe the A plan can be terminated.

The US Congress could make a law saying that A plans are detrimental to the national interests of the US because they impede growth and continiued commerce. UPS is already lobbying to get pensions outlawed. I agree with them. How can US companies compete in a global environment if they are having to pay pensions to xx thousands of retirees that are no longer contributing? A plans will be outlawed in about 10-15 years and UPS knows it. Anyone under 50 thinking that they will have an A plan is in trouble.

I'd gladly trade my future A plan for an increase in my B plan (defined contribution plan.)

 

[720persecond]

The US Congress could make a law saying that A plans are detrimental to the national interests of the US because they impede growth and continiued commerce. UPS is already lobbying to get pensions outlawed. I agree with them. How can US companies compete in a global environment if they are having to pay pensions to xx thousands of retirees that are no longer contributing? A plans will be outlawed in about 10-15 years and UPS knows it. Anyone under 50 thinking that they will have an A plan is in trouble.

I'd gladly trade my future A plan for an increase in my B plan (defined contribution plan.)

You support "outlawing" a pension ?