Your Union has been lying to you your entire career

sarktastic

Said, if you paid em all that money... Every pay period... Every year for 30-40 years... You'd get a pension.

Sorry, they lied. More hopeless change. Thanks, Obama

https://www.washingtonpost.com/news/get-there/wp/2016/04/20/one-of-the-nations-largest-pension-funds-could-soon-cut-benefits-for-retirees/

2001400ex

Did you even read the article or just the headline?

greenblood

This is why I hate relying solely on a pension plan. Invest whatever the company will match (free money) then invest everything else yourself.

2001400ex

greenblood said:

This is why I hate relying solely on a pension plan. Invest whatever the company will match (free money) then invest everything else yourself.

Do you know the difference between a pension plan and a 401(k)?

While I completely agree a company or Union pension shouldn't be your only retirement. If you are putting into a 401(k), it's fine to put more than the match into those, as long as it's an ERISA plan that is audited. Those funds are required to be deposited into the investments you direct.

TierbsHsotBoobs

2001400ex said:

greenblood said:

This is why I hate relying solely on a pension plan. Invest whatever the company will match (free money) then invest everything else yourself.

Do you know the difference between a pension plan and a 401(k)?

While I completely agree a company or Union pension shouldn't be your only retirement. If you are putting into a 401(k), it's fine to put more than the match into those, as long as it's an ERISA plan that is audited. Those funds are required to be deposited into the investments you direct.

I sign my entire paycheck over to Bleenor to invest.

I'll be fine.

2001400ex

TierbsHsotBoobs said:

2001400ex said:

greenblood said:

This is why I hate relying solely on a pension plan. Invest whatever the company will match (free money) then invest everything else yourself.

Do you know the difference between a pension plan and a 401(k)?

While I completely agree a company or Union pension shouldn't be your only retirement. If you are putting into a 401(k), it's fine to put more than the match into those, as long as it's an ERISA plan that is audited. Those funds are required to be deposited into the investments you direct.

I sign my entire paycheck over to Bleenor to invest.

I'll be fine.

All mine is invested in Kim's real estate.

sarktastic

2001400ex said:

greenblood said:

This is why I hate relying solely on a pension plan. Invest whatever the company will match (free money) then invest everything else yourself.

Do you know the difference between a pension plan and a 401(k)?

While I completely agree a company or Union pension shouldn't be your only retirement. If you are putting into a 401(k), it's fine to put more than the match into those, as long as it's an ERISA plan that is audited. Those funds are required to be deposited into the investments you direct.

just shut the fuck up

PurpleJ

Good. Fuck the Teamsters.

bananasnblondes

I wish i coild invest my 401k exclusively in pornhub stock. I'd be constantly fueling my investment

RaceBannon

My money is in casinos and lottery tickets

2001400ex

I feel like my investment in Derek Johnson books will be beneficial at retirement.

GrundleStiltzkin

TierbsHsotBoobs said:

2001400ex said:

greenblood said:

This is why I hate relying solely on a pension plan. Invest whatever the company will match (free money) then invest everything else yourself.

Do you know the difference between a pension plan and a 401(k)?

While I completely agree a company or Union pension shouldn't be your only retirement. If you are putting into a 401(k), it's fine to put more than the match into those, as long as it's an ERISA plan that is audited. Those funds are required to be deposited into the investments you direct.

I sign my entire paycheck over to Bleenor to invest.

I'll be fine.

Looking good Boobs!!1

sarktastic

Looks like since 2014 there has been an amazing dollar cost average opportunity.

GreenRiverGatorz

Some retirees and other supporters have rallied behind a bill introduced by Democratic presidential candidate Bernie Sanders (Vt.) that would repeal the measure allowing the cuts, calling instead for the government to provide assistance to troubled pension funds.

I get a kick out of the anti-Wall-Street-bailout candidate introducing a bill that would bail out these pension plans.

greenblood

This really sucks for a lot people

sarktastic

oh well... Your fault for trustin us.

Hiliary2016

dnc

GreenRiverGatorz said:

Some retirees and other supporters have rallied behind a bill introduced by Democratic presidential candidate Bernie Sanders (Vt.) that would repeal the measure allowing the cuts, calling instead for the government to provide assistance to troubled pension funds.

I get a kick out of the anti-Wall-Street-bailout candidate introducing a bill that would bail out these pension plans.

The pensions are too big to fail

Kaepsknee

Obviously the formulas that these funds use to dictate what should be collected and what should be paid out to retirees is out of whack. If they are gonna reduce pension payouts, they should look at increasing the pay-ins from the companies that fund them as well.

greenblood

salemcoog said:

Obviously the formulas that these funds use to dictate what should be collected and what should be paid out to retirees is out of whack. If they are gonna reduce pension payouts, they should look at increasing the pay-ins from the companies that fund them as well.

But why is Social Security in turmoil?

section8

Just out of curiosity, anyone know how what the typical pay in coming in is?

sarktastic

Reading past the headline:

That imbalance left the fund paying out $3.46 in pension benefits for every $1 it received from employers. The shortfall has resulted in the fund paying out $2 billion more in benefits than it receives in employer contributions each year.