it's about non-union employees who are non-union because they are managers. Managers in both private and government employment typically either have a separate union (if they form one) or they are non-unionized and work under contract. Presumably the UPS management contract allows this.

My friend is going to be effected by this.

Have a neighbor who's Brother is one of the Administrators of the Non-Union Pensions,his comment was,well it will be a business decision.

And safety and ergonomics professionals, and likely phone service people.

I think the first reply assumes too much.

Customer service
Management
Risk assessment
Legal/contract
Pricing
Etc.

Kelly Ann will help those people find more jobs so that they can continue to live like they "used to!"

They are instead going to contribute an extra 4% to the 401k. My pension is defined benefit, but it was changed to defined contribution if you were hired at a later date. Those before got grandfathered like me.

But now, well...I've got 10 more years before I semi-retire. In the mean time, I'll be making some extra investments.

I don't blame the company entirely, banks have been making it more expensive to manage pension funds. Almost as if they want them done away with. Which wouldn't surprise me, pension funds are often forced to be safe investments.

Literally by 3 months.

I got hired a year after they stopped offering pensions. Pretty generous 401K, they match my 8% with 7%, but the investment selections for it aren't the best.

The death of pensions is going to have ramifications for the country that people do not even begin to appreciate. People are simply not saving enough in their 401Ks and there is not enough help for people to be able to manage them better. By the age of 50 you should have 6 times your salary in your retirement accounts. A bare minimum of 3 times your salary at 50 will barely provide a life above poverty when you retire.

If the GOP gets their way and destroys Social Security we're going to honestly see the days where the elderly die in the streets all around us. Something has got to give, tens of millions of Americans nearing retirement have little to no savings and no pensions.

And the repeal of the ACA if it happens is going to make the problem worse by making older workers much more costly to insure.

they're always saying people need to save more, as if everyone has a six figure salary

Everyone can save, everyone! And there are a ton of people out there with 6 figure salaries that aren't saving too.

Find $5 a day in spending reductions and you can have $1 Million when you retire if you invest that early in your career. But the key is starting early (Although it's never too late to help yourself).

No matter if you make $18K a year or $150K a year, you must start saving in your 20s. People are simply not doing this. 10% of your paycheck pretax is the minimum, if you are starting later you have to save more.

Cut out the $5 daily cup of coffee from Starbucks. There are hundreds of ways to reduce expenses if only by a few dollars a day. Do you know you can negotiate with your credit card companies for a better rate thus reducing your minimum payment? You can negotiate better rates with all kinds of bills you might have, including utilities on occasion. I have yet to meet someone who can't find a few dollars a day.

I don't mean to sound like an infomercial, but something has to change for people. Know this, the powers that be want to keep you in debt and broke, but each of us has the power to tell them NO.

having a Depression-era dad and a WWII surviving mum meant having saving money drilled into my head since I was a child

but it insulting to assume what works for me or you works for all - do you really think people barely scraping by or hit with huge medical bills are going to Starbucks?

The norm in Silicon Valley is no pension at all. If you're lucky, your employer will contribute to a 401(k) fund, but otherwise you're pretty much on your own. If you can get in to one of the lucky start-ups that actually do well and can get enough stock to matter (and if the market stays up long enough for you to cash in) you might end up OK.

The change to where CEO's and top executives of companies today are getting paid 300 to 3,000 times their highest paid hourly employees compared to 10 to 15 times their highest paid hourly employees in the 1950's and 60's has anything to do with this?

Hmmmmm???

Oh well, we all know that there were NO rich people back in the 1960's. Somehow they were able to "scrimp, save and struggle to get by" with 10-15 Times what their employees made.

things go along great for 6 months and then the job ends and you spend 3 months looking for work because everyone else is looking for work too.
Or your truck breaks down, or the kids need braces, or the wifes car breaks down or the a/c goes out, and the list goes on and on and on.

No matter what you save it gets eaten up.

Pensions just happen in that kind of work.

One manager for every 4.5 employees?