Are you delaying retirement? How long?

[DELACROIX]

Nope, it just goes back from it. Joint annuity to a single annuity.
The annuity company already made out for many years because they paid you less. But in an unfortunate event, the wife predeceases, you, you will go back to the single payer life option.

Our pension and health and welfare benefits should not be discriminatory. Why does one body/region of Union members get almost 2 X or 3 X as much as others ? It goes against the concept of equal pay/benefits for equal work/seniority, the Union Leadership has dropped the ball or more than likely do not give a damn about ALL their membership.

I been through it and one thing I can tell you is that the Pension and Health and Welfare protections have been under attack for over 40 years...ever heard of ERISA ?, read it sometime. The Federal agencies that govern or enforce that law are wrought with bureaucracy and corporate influence/fraud, soon it will not exist...traditional pension plans are a thing in the past, the company has been nibbling along the edges since 1991 in order to quit paying into our plans or playing shell games with our benefits. The 1997 strike was the real turning point, the Central States debacle was the driving issue, not part timer work....

The truth is that the company used our membership's greed and fears to their best advantage, turning one set of our rank and file against others.

 

[Wally]

Life insurance gets prohibitively expensive when you get towards your retirement age

Yep, lock in rates while still in your early/mid 50's if thinking about pension maximization, and save enough, treating your 401k or roth is another later in life annunity, reininvesting RMD's.

You young folk, save a lot more now so years later you have more options.

If you are not the type to have financial self control and discipline, go with the survivorship option.

 

[Thebrownblob]

Yep, lock in rates while still in your early/mid 50's if thinking about pension maximization, and save enough, treating your 401k or roth is another later in life annunity, reininvesting RMD's.

You young folk, save a lot more now so years later you have more options.

If you are not the type to have financial self control and discipline, go with the survivorship option.

So no lifted Ford Raptor and Louis Vuitton track suits?

 

[oldngray]

So no lifted Ford Raptor and Louis Vuitton track suits?

Track suit will always be the uniform for South Jersey

 

[Thebrownblob]

Track suit will always be the uniform for South Jersey

@MyTripisCut ?

 

[IVE GOTTA PACKAGE 4U]

Our pension and health and welfare benefits should not be discriminatory. Why does one body/region of Union members get almost 2 X or 3 X as much as others ? It goes against the concept of equal pay/benefits for equal work/seniority, the Union Leadership has dropped the ball or more than likely do not give a damn about ALL their membership.

I been through it and one thing I can tell you is that the Pension and Health and Welfare protections have been under attack for over 40 years...ever heard of ERISA ?, read it sometime. The Federal agencies that govern or enforce that law are wrought with bureaucracy and corporate influence/fraud, soon it will not exist...traditional pension plans are a thing in the past, the company has been nibbling along the edges since 1991 in order to quit paying into our plans or playing shell games with our benefits. The 1997 strike was the real turning point, the Central States debacle was the driving issue, not part timer work....

The truth is that the company used our membership's greed and fears to their best advantage, turning one set of our rank and file against others.

It sucks but at least we are fortunate enough to have a pension, most people can't say that.

 

[Wally]

So no lifted Ford Raptor and Louis Vuitton track suits?

You may have those things. Just pick a spouse with a high earning job.

 

[IVE GOTTA PACKAGE 4U]

Yep, lock in rates while still in your early/mid 50's if thinking about pension maximization, and save enough, treating your 401k or roth is another later in life annunity, reininvesting RMD's.

You young folk, save a lot more now so years later you have more options.

If you are not the type to have financial self control and discipline, go with the survivorship option.

And don't get divorced!!!

 

[oldngray]

And don't get divorced!!!

It's cheaper to keep her.

 

[IVE GOTTA PACKAGE 4U]

It's cheaper to keep her.

Besides who is going to make me a sandwich ?

 

[Thebrownblob]

And don't get divorced!!!

Oops

 

[Wally]

And don't get divorced!!!

Yea for sure that can put a dent in things.

 

[MyTripisCut]

They're robbing everyone by not giving more pension contributions to this contract.

A pension fund can stay very healthy without raising the contribution rate. Payouts might not be crazy, but if invested properly shouldn’t be the issue everyone seems to think it is. I really don’t understand all the anger over this. We got huge raises, employees need to be accountable for their retirement as well.

 

[Thebrownblob]

A pension fund can stay very healthy without raising the contribution rate. Payouts might not be crazy, but if invested properly shouldn’t be the issue everyone seems to think it is. I really don’t understand all the anger over this. We got huge raises, employees need to be accountable for their retirement as well.

Yep, I max out my 401(k) yearly and have for about a decade. It’s got a nice amount in there

 

[IVE GOTTA PACKAGE 4U]

A pension fund can stay very healthy without raising the contribution rate. Payouts might not be crazy, but if invested properly shouldn’t be the issue everyone seems to think it is. I really don’t understand all the anger over this. We got huge raises, employees need to be accountable for their retirement as well.

What I'm trying to say is.
The payout we are getting now is okay ut with out increases the future generations won't have a good payout.

 

[Wally]

A pension fund can stay very healthy without raising the contribution rate. Payouts might not be crazy, but if invested properly shouldn’t be the issue everyone seems to think it is. I really don’t understand all the anger over this. We got huge raises, employees need to be accountable for their retirement as well.

True, but the negotiated hourly contribution should be equal among all the plans. That's the only problem I have. If it is not, the locals with the lower amount are subsiding the plans with the greater.

 

[BigUnionGuy]

True, but the negotiated hourly contribution should be equal among all the plans.

Sure….

As long as the payout is the same.

 

[Wally]

Sure….

As long as the payout is the same.

System in place currently doesn’t work like that. If it did, the central for example would be among pension funds cut, retirees benefit reduced based on today's payout.

 

[BigUnionGuy]

System in place currently doesn’t work like that.

Exactly. They are just trying to level the playing field.

What is wrong with that ?

 

[Wally]

Exactly. They are just trying to level the playing field.

What is wrong with that ?

Why are there so many different plans instead of one? Must be a reason it was set up that way?