floridays
Well-Known Member
You're a sharp one.
Or realize the fruits that taking a risk might benefit.
California is a sorry excuse for a state
- Thread starter Peytonmanning11
- Start date
Oldfart
Well-Known Member
I will take my 401k over my defined pension if I only had 1 choice. Some of the Vanguard choices have averaged 20% or more over the past 10 years. You can throw a dart at our choices and come out a winner. With the match being 55% and the tax savings you can't go wrong.
Our other pension plan is returning 4% each and every year since inception. Not a bad return.
floridays
Well-Known Member
"Our other pension plan is returning 4% each and every year since inception."
And it comes no where close to the plan it displaced. Just an idea, why don't they move the PPA to the 401k giving employees the chance of greater than 4% returns?
UpstateNYUPSer(Ret)
Well-Known Member
As would I but my post was in response to one in which it was stated that most people need help in managing their money.
It will be fine
Well-Known Member
Nope, even if my workers owned the company I couldn't afford to pay them much more than I do now. The gain I get for the risk and stress of ownership is the eventual sale price of the company. That could easily end up being $0. I've had plenty of workers over the years that are former business owners and they aren't interested in ownership anymore. They are happier with the relatively stress free job.
Oldfart
Well-Known Member
Lots of those decisions are governed my IRS rules. The OP said the need for a pension was because so many people are bad money managers. Just think if every employee ONLY had a 401k and no pension, where they can make hardship withdrawals and borrow against it and not even be in the the 401k. It could be a disaster for the idiots of the world.
floridays
Well-Known Member
If your employees owned the company they wouldn't be your employees, and you wouldn't be paying them.
Peytonmanning11
Well-Known Member
friend my life I need a job I have no money
Peytonmanning11
Well-Known Member
CNN’S slogan is CNN, THE MOST TRUSTED NAME IN NEWS. Everyone knows this is not true, that this could, in fact, be a fraud on the American Public. There are many outlets that are far more trusted than Fake News CNN. Their slogan should be CNN, THE LEAST TRUSTED NAME IN NEWS!
floridays
Well-Known Member
All of that is fine, you still didn't respond to my question.
floridays
Well-Known Member
Tough
Peyton, you shouldn't have blown all your NFL cash, maybe you and Mike Tyson can share a box under a interstate overpass.
Oldfart
Well-Known Member
If IRS rules don't allow it, why bother with the question. I have no idea of all the rules.
I just responded about the people who are bad money managers. You let them run their own 401k and borrow, make hardship withdrawals and not even join, you will see broke people when they retire.
We had a retirement Q&A meeting just a few weeks ago. Some 30 year people are not even enrolled in the 401k. Pure ignorance
floridays
Well-Known Member
I'm smellin a little Meat, is this you young feller?
floridays
Well-Known Member
It's of no concern to me how someone else manages their money. Obviously the 401k passes IRS muster. Why won't FEDEX dismantle the PPA and make a like contribution to an individual employees 401k plan?
Peytonmanning11
Well-Known Member
No American should be separated from their loved ones because of preventable crime committed by those illegally in our country. Our cities should be Sanctuaries for Americans – not for criminal aliens!
Oldfart
Well-Known Member
You are asking the wrong person. I know there are many IRS rules when it comes to 401k and pensions. Why don't you call retirement next week and get back with me with an answer,
It will be fine
Well-Known Member
That shows a fundamental lack of understanding of what a sanctuary city is.
floridays
Well-Known Member
I already know the answer, was just seeing if you did.
Oldfart
Well-Known Member
Then share
floridays
Well-Known Member
I'll do it with a series of questions, you good with that?
