It’s about to get real here in 705!

[Dracula]

My 401k won’t ever run the risk of falling below 80% funded for any reason. The people keeping these funds alive deserve to be rewarded in other ways because pension increases look to be very unlikely.

I'm not taking a side in your little feud here, but your claim that your 401k won't ever run the risk of falling below 80% is fundamentally false. Since your 401k is invested into various funds, you could lose far more than 80%. If you have $500,000 in your 401k and your investments lost 50% in a market crash, you're at $250,000.

Do the math, Brother.

These 401k's have been sold as some sort of panacea to us by financial wizards, under the guise that the stock market, historically, returns a yearly average yield somewhere around 7%. Until it doesn't. Like, say, 2008. I don't know about you, but I lost almost 30% of my 401k balance in 2008.

Good thing I didn't retire that year.

401k's sound great, until you factor in fees, market fluctuations and their main purpose, to put the risk on the employee, instead of the employer.

 

[Dracula]

There are many local presidents that are also BAs. You should maybe shoot from the hip less.

In this union, yes.

 

[Dracula]

I wouldn’t trust anything a feeder driver says....they gossip 100x worse than a bunch of old ladies at del Boca vista retirement community

Because we communicate with each other.

 

[Coldworld]

No seasonal feeder driver is making more than me, I can assure you.

With their bonus and rate of pay they are for the two months they are here... vs your 2 months ....you do know how much bonus these seasonals are making????

 

[Poop Head]

I wouldn’t trust anything a feeder driver says....they gossip 100x worse than a bunch of old ladies at del Boca vista retirement community

 

[Coldworld]

View attachment 219599

LMAO!!!

 

[Feederquacker]

.[/QUOTE]
I wouldn’t trust anything a feeder driver says....they gossip 100x worse than a bunch of old ladies at del Boca vista retirement community[/QUOTE]


I generally don’t trust most of what anyone in this company or Union says. Most everyone is full of and talking out their . Just take a look around here. On just about every thread you will find more than a few explanations of how whatever it is is supposed to be. Most people don’t have a dang clue what they’re talking about. The Company will lie to you, the Union will blow smoke up your arse and the members just make it worse.

You think I have a tad bit of cynicism?

 

[burrheadd]

.

I wouldn’t trust anything a feeder driver says....they gossip 100x worse than a bunch of old ladies at del Boca vista retirement community[/QUOTE]


I generally don’t trust most of what anyone in this company or Union says. Most everyone is full of and talking out their . Just take a look around here. On just about every thread you will find more than a few explanations of how whatever it is is supposed to be. Most people don’t have a dang clue what they’re talking about. The Company will lie to you, the Union will blow smoke up your arse and the members just make it worse.

You think I have a tad bit of cynicism?[/QUOTE]

Not true the FNN is more reliable than CNN

 

[710 steward]

I'm not taking a side in your little feud here, but your claim that your 401k won't ever run the risk of falling below 80% is fundamentally false. Since your 401k is invested into various funds, you could lose far more than 80%. If you have $500,000 in your 401k and your investments lost 50% in a market crash, you're at $250,000.

Do the math, Brother.

These 401k's have been sold as some sort of panacea to us by financial wizards, under the guise that the stock market, historically, returns a yearly average yield somewhere around 7%. Until it doesn't. Like, say, 2008. I don't know about you, but I lost almost 30% of my 401k balance in 2008.

Good thing I didn't retire that year.

401k's sound great, until you factor in fees, market fluctuations and their main purpose, to put the risk on the employee, instead of the employer.

I have made all of my losses up and MORE than doubled my balance since then. I’m not sure if you realize this but $200 a week in a 401k without ever increasing the $200 is a tick under 700 grand at 5% interest compounded for 30 years. You could draw 4 grand a month out it for 25 years before it ran out of money. You keep your pension. I’ll gladly take the 700 grand and if I die it can be passed on to my loved ones.

 

[Waldo]

I generally don’t trust most of what anyone in this company or Union says. Most everyone is full of and talking out their . Just take a look around here. On just about every thread you will find more than a few explanations of how whatever it is is supposed to be. Most people don’t have a dang clue what they’re talking about. The Company will lie to you, the Union will blow smoke up your arse and the members just make it worse.

You think I have a tad bit of cynicism?

...but I really do have the hardest pull in the building.

 

[ColdHarvest]

I don't know what crap hole you all work in, but our feeder drivers are legit dudes. I've seen them help local sort load irregs, and they are always in a good mood and happy AF.

 

[Dracula]

I have made all of my losses up and MORE than doubled my balance since then. I’m not sure if you realize this but $200 a week in a 401k without ever increasing the $200 is a tick under 700 grand at 5% interest compounded for 30 years. You could draw 4 grand a month out it for 25 years before it ran out of money. You keep your pension. I’ll gladly take the 700 grand and if I die it can be passed on to my loved ones.

Well, hopefully you will average a 5% return every year.

 

[dudebro]

I'm not taking a side in your little feud here, but your claim that your 401k won't ever run the risk of falling below 80% is fundamentally false. Since your 401k is invested into various funds, you could lose far more than 80%. If you have $500,000 in your 401k and your investments lost 50% in a market crash, you're at $250,000.

Do the math, Brother.

These 401k's have been sold as some sort of panacea to us by financial wizards, under the guise that the stock market, historically, returns a yearly average yield somewhere around 7%. Until it doesn't. Like, say, 2008. I don't know about you, but I lost almost 30% of my 401k balance in 2008.

Good thing I didn't retire that year.

401k's sound great, until you factor in fees, market fluctuations and their main purpose, to put the risk on the employee, instead of the employer.

It still returns 7%. Even if you'd retired in 2008, you wouldn't withdraw ALL the money. The market was back to 2007 level in 2009, and since 2003, counting the correction, it has averaged 11.25%.

Also, what makes you think a defined benefit pension plan puts the risk on the employer in the event of a correction? Ask the people who've had their pensions reduced how that works out.

 

[Inthegame]

It still returns 7%. Even if you'd retired in 2008, you wouldn't withdraw ALL the money. The market was back to 2007 level in 2009, and since 2003, counting the correction, it has averaged 11.25%.

The DJIA hit just over 14000 in 2007 and didn't return there until 2013.

Also, what makes you think a defined benefit pension plan puts the risk on the employer in the event of a correction? Ask the people who've had their pensions reduced how that works out.

Participating employers withdrawal/unfunded liability increases as the funding pct decreases.

 

[dudebro]

The DJIA hit just over 14000 in 2007 and didn't return there until 2013.
Participating employers withdrawal/unfunded liability increases as the funding pct decreases.

Don't forget the fact that if you were working and contributing to the market between 2009 and 2014, you bought at 6700 and less than 5 years later that money DOUBLED. So, you can point to 2008 as if the market always does that, it doesn't. I could sit here and point to 2009, and it doesn't always go UP 30% either.

On average, you get the 7%. And for what you pay in, a 401k on the worst day of the market is more money back than the defined benefit plans.

 

[BuckyBadger]

Don't hijack this thread. Obviously 705 members think they may be striking, and this is what this thread is about and the connection to 710.

 

[Bubblehead]

Don't hijack this thread. Obviously 705 members think they may be striking, and this is what this thread is about and the connection to 710.

You need @Indecisi0n to get this thread back on track?

 

[Indecisi0n]

You need @Indecisi0n to get this thread back on track?

Cleaning up thread now. Guys please stick to the topic on hand.

 

[Bubblehead]

Cleaning up thread now. Guys please stick to the topic on hand.

This what I expected....???

STRIKE STRIKE STRIKE !

 

[Indecisi0n]

This what I expected....???

I got this.