United Parcel Service Inc. will freeze a pension plan for about 70,000 nonunion U.S. employees because of escalating costs and volatility in determining future payments, replacing it with a different retirement benefit. UPS joins companies including DuPont Co. and Lockheed Martin Corp. in freezing pensions, which means that some or all participants may stop accumulating benefits. UPS’s retirement obligations are on top of a $1 billion jump in capital spending being planned for this year to handle a surge in e-commerce shipments. “It’s not a red flag,” said Kevin Sterling, a Seaport Global Holdings analyst. “Combine how much money they are spending on automation and on planes, along with discount
If you’re like many adults, the thought of taking an early retirement (could you retire at 45?) has probably crossed your mind at least once or twice. The “four percent rule” – a widely accepted financial rule of thumb – states that your savings should last through 30 years of retirement if you withdraw 4% of your nest egg during the first year of retirement and then adjust each year thereafter for inflation. If you have $500,000, the math comes out to $20,000 a year, assuming a 4% withdrawal strategy.
One stock that might be an intriguing choice for investors right now is Advanced Micro Devices, Inc. AMD. This is because this security in the Electronics - Semiconductors space is seeing solid earnings estimate revision activity, and is in great company from a Zacks Industry Rank perspective. Meanwhile, Advanced Micro Devices is actually looking pretty good on its own too.