Your Union has been lying to you your entire career
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/
Comments
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Did you even read the article or just the headline?
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This is why I hate relying solely on a pension plan. Invest whatever the company will match (free money) then invest everything else yourself.
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Do you know the difference between a pension plan and a 401(k)?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.
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.2001400ex said:
Do you know the difference between a pension plan and a 401(k)?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.
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'll be fine. -
All mine is invested in Kim's real estate.TierbsHsotBoobs said:
I sign my entire paycheck over to Bleenor to invest.2001400ex said:
Do you know the difference between a pension plan and a 401(k)?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.
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'll be fine. -
just shut the fuck up2001400ex said:
Do you know the difference between a pension plan and a 401(k)?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.
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. -
Good. Fuck the Teamsters.
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I wish i coild invest my 401k exclusively in pornhub stock. I'd be constantly fueling my investment
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My money is in casinos and lottery tickets
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I feel like my investment in Derek Johnson books will be beneficial at retirement.
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Looking good Boobs!!1TierbsHsotBoobs said:
I sign my entire paycheck over to Bleenor to invest.2001400ex said:
Do you know the difference between a pension plan and a 401(k)?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.
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'll be fine.
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Looks like since 2014 there has been an amazing dollar cost average opportunity.
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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. -
This really sucks for a lot people
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oh well... Your fault for trustin us.
Hiliary2016 -
The pensions are too big to failGreenRiverGatorz 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. -
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.
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But why is Social Security in turmoil?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.
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Just out of curiosity, anyone know how what the typical pay in coming in is?
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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. -
That's meaningless as pensions should be funded as the employees were working, like in the 70s and 80s.sarktastic said: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. -
Agreed.greenblood said:
But why is Social Security in turmoil?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.
Unless your talking about raising MY SS taxes anyway. -
The problem with that is pensions typically promise unsustainable returns that cannot be consistently achieved.2001400ex said:
That's meaningless as pensions should be funded as the employees were working, like in the 70s and 80s.sarktastic said: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. -
TierbsHsotBoobs said:
The problem with that is2001400ex said:
That's meaningless as pensions should be funded as the employees were working, like in the 70s and 80s.sarktastic said: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.pensions typically promise unsustainable returns that cannot be consistently achievedmanagement doesn't properly fund pensions and instead relies on growth of the company for sustainability while using pension funds for other shit. -
The problem with that is pensions typically promise unsustainable returns that cannot be consistently achieved the Government doesn't properly fund pensions and instead relies on growth of the economy for sustainability while using pension funds for other shit.
but why is Social Security in turmoil? -
Compounded interest matters.2001400ex said:TierbsHsotBoobs said:
The problem with that is2001400ex said:
That's meaningless as pensions should be funded as the employees were working, like in the 70s and 80s.sarktastic said: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.pensions typically promise unsustainable returns that cannot be consistently achievedmanagement doesn't properly fund pensions and instead relies on growth of the company for sustainability while using pension funds for other shit. -
For the exact same reason. And the fact politicians refuse to do anything about it.RaceBannon said:The problem with that is pensions typically promise unsustainable returns that cannot be consistently achieved the Government doesn't properly fund pensions and instead relies on growth of the economy for sustainability while using pension funds for other shit.
but why is Social Security in turmoil? -
SS is only in turmoil because Congress hasn't done what they need to do to solidify it. It's the single best program that this country has ever implemented. Fix it.
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I'm hearing you can set aside some of your paycheck each week in an interest-bearing account. It's called savings. Cut out the middle man that spent all the money and you'd be fine. Perpetuities are going away because people live way longer nowadays and you have no way to measure what it's going to cost in the future. People should be responsible for their own savings. Period.doogsinparadise said:SS is only in turmoil because Congress hasn't done what they need to do to solidify it. It's the single best program that this country has ever implemented. Fix it.
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The genius of social security, Medicaid, medicare, pensions, etc is now their curse. They are in effect a Ponzi scheme. In the beginning many pay in, and there's money for everyone. At the end, there are more taking out than people to put in.
When s.s. was started there was 10 paying in for every 1 receiving money, and you collected at 62 when the avg. life expectancy was essentially that age. Today it is 2 paying for every one collecting and the avg. person lives to mid 80's.
