Nys teamsters pension & retirement fund

[1989]

max keiser on pensions!!!!

Ricky, the teamsters pensions were in trouble before 2008.

 

[Future]

When the dust settles in a few years there won't be a livable Teamster pension left---if any pensions at all. To those few who brag about theirs still being in good shap beware-----others that aren't will be coming after yours .Mean while I'm sure all the top Teamster officials will be living like kings until the final days of the Teamster Union have come---and it will come.

Very well said!

 

[Future]

When the dust settles in a few years there won't be a livable Teamster pension left---if any pensions at all. To those few who brag about theirs still being in good shap beware-----others that aren't will be coming after yours .Mean while I'm sure all the top Teamster officials will be living like kings until the final days of the Teamster Union have come---and it will come.

And they should be put ..in prison

 

[1989]

And they should be put ..in prison

Then who would've run the teamsters?

 

[Brownslave688]

In this case I have the advantage on hindsight. I would have been better off.

What are the advantages? Fees, only allowing hardship loans? Can only buy a piece of paper.

Payroll deduction, tax deferred or tax free growth (Roth).

I think the hardship loan is actually a good thing. That means people know that's retirement money not play money.


And our 401k fees are almost nothing.

 

[1989]

Payroll deduction, tax deferred or tax free growth (Roth).

I think the hardship loan is actually a good thing. That means people know that's retirement money not play money.


And our 401k fees are almost nothing.

That is the advantage of all retirement accounts. I can do automatic deduction from my bank account, tax deferred or tax free, with no fees. I can have more options, more freedom.

You do realize you can withdraw it at any time, right? I think that a broken sewer line/ failing septic is a hardship along with a failing roof, or a major plumbing defect.

Did you know most homeowners don't cover broken sewer line to your house?
But you can get a rider for a few bucks a year.

 

[Brownslave688]

P.S. .....don't be working my boy into the ground !LOL

Just bought him lunch.

 

[Future]

Just bought him lunch.

Pervert

 

[Brownslave688]

That is the advantage of all retirement accounts. I can do automatic deduction from my bank account, tax deferred or tax free, with no fees. I can have more options, more freedom.

You do realize you can withdraw it at any time, right? I think that a broken sewer line/ failing septic is a hardship along with a failing roof, or a major plumbing defect.

Did you know most homeowners don't cover broken sewer line to your house?
But you can get a rider for a few bucks a year.

I don't think that's a hardship.


Like I said that's what you keep a savings account for. That's not what a retirement account is for.

 

[MyTripisCut]

That is the advantage of all retirement accounts. I can do automatic deduction from my bank account, tax deferred or tax free, with no fees. I can have more options, more freedom.

You do realize you can withdraw it at any time, right? I think that a broken sewer line/ failing septic is a hardship along with a failing roof, or a major plumbing defect.

Did you know most homeowners don't cover broken sewer line to your house?
But you can get a rider for a few bucks a year.

Can't you open a home equity line on your house? Low interest, borrowed from your own equity, in your house. Fix the roof and the septic, then pay yourself back.

 

[Brownslave688]

Can't you open a home equity line on your house? Low interest, borrowed from your own equity, in your house. Fix the roof and the septic, then pay yourself back.

I can't figure out why anyone would want to use their 401k as a savings account.

You'll never make up that lost growth period.

 

[1989]

Can't you open a home equity line on your house? Low interest, borrowed from your own equity, in your house. Fix the roof and the septic, then pay yourself back.

Sure, in like 90 days. If you have enough equity. You have to apply, pay the fees, wait for an appraisal. Last one I had was like 5% adjustable rate. But you could lock in a balance at any time at like 7%.

 

[1989]

I can't figure out why anyone would want to use their 401k as a savings account.

You'll never make up that lost growth period.

Not a savings account. An account to buy more investments.

 

[Brownslave688]

Not a savings account. An account to buy more investments.

You said you'd like to use it for home repairs. That's what a savings account is for.

 

[1989]

You said you'd like to use it for home repairs. That's what a savings account is for.

No, I said it was a hardship. your house must have running water and septic/sewer.

 

[Brownslave688]

No, I said it was a hardship. your house must have running water and septic/sewer.

Nah that's just called being a homeowner not a hardship. Rent if you don't have the means to save or have insurance for such things.

 

[1989]

Nah that's just called being a homeowner not a hardship. Rent if you don't have the means to save or have insurance for such things.

So you think the average joe has 18k. With that theory why even have hardship loans?

 

[3 done 3 to go]

Here we go again....

Largest Pension Fund in the country.



-Bug-

Prepare to get screwed. You guys just don't know it yet

 

[rod]

Ricky, the teamsters pensions were in trouble before 2008.

I believe it was 1985 when the US Government was appointed overseers of the Central States pension plan because they didn't agree with how it was being funded. It went to hell right under their watchful eyes.

 

[BigUnionGuy]

Ricky, the teamsters pensions were in trouble before 2008.

Yep.

In 2002, is when the accrual rate was cut from 2% to 1%.

I was at the meeting in Chicago. Room full of angry Teamsters.

I believe it was 1985 when the US Government was appointed overseers of the Central States pension plan because they didn't agree with how it was being funded. It went to hell right under their watchful eyes.

It was part of the Consent Decree in 1982.

How the Teamsters pension disappeared more quickly under Wall Street than the mob

Prepare to get screwed. You guys just don't know it yet

Fortunately, for UPSer's who retire after 2008....

The company is contractually required to make up any difference in cuts

Central States makes. For now.



-Bug-