What Type of Pension Do You Have?

     Do you know the difference between a defined benefit and a defined contribution pension, which kind you have and which is better? Every driver at UPS should know the answers to these questions because every driver would retire today if they had the opportunity. The money, the insurance and the pension. That’s why people work at UPS. I don’t know anyone who stays because they enjoy it. No Surrender
     As a retiree, I know quite a bit about the pension.  I’ve jumped through all the hoops and tried to ask all the right questions. I’ve struggled to understand the insurance and I’ve searched for that open door at UPS where I could go in and sit down get all my questions answered. That door doesn’t exist, of course, and in reality it’s really difficult to get  information about the pension because the company has no website or local pension experts. I’ve heard people speculate that the reason UPS doesn’t talk about the pension is because they plan to convert to a defined contribution as soon as possible.
     Liz Pullium  Weston has written a great article What’s killing pension plans? Maybe you  and in concise terms it tells you why you have the best type of pension and what you should be willing to do to keep it. Nothing in this world worth keeping is free anymore. As workers across America lose their jobs, their benefits, and even their homes, UPSers feel insulated and safe. But are we? 

     I think a smart and united workforce could give UPS a run for their money as we enter this new millinium of corporate power. But when push comes to shove, will UPSers be too scared to stand up? I reached a point where I couldn’t stand back and watch UPS steamroll over all the employees around me. I stood up. I began to fight back. I became a steward. I started a website. 

     If you are reaching that point too, a good place to begin would be the pension article I mention above.

     Knowledge is power. Grab it.