Retiree Insurance

[IVE GOTTA PACKAGE 4U]

Sliding scale based on age, at 55 or younger it's $630/month at 60 it's ~ $430 or something, might be a little less.

That's a lot of money

 

[Jones]

That's a lot of money

Depends on how you look at it. Some plans have much a lower premium but they also have a much lower pension payout.

 

[bottomups]

Usually higher deductibles and co-pays. Not usually a big difference but not exactly the same. Plus there are lifetime limits on retiree plans (Obamacare guarantees don't apply to retirement plans).

No lifetime cap limit in my local.

 

[DELACROIX]

Depends on how you look at it. Some plans have much a lower premium but they also have a much lower pension payout.

Most of the time the Union negotiates an increase in pension to cover any rises in the retirees’ co pays and monthly premiums.

 

[Carhauler]

Usually higher deductibles and co-pays. Not usually a big difference but not exactly the same. Plus there are lifetime limits on retiree plans (Obamacare guarantees don't apply to retirement plans).

Has anyone looked into the possibility of how to buy a supplement to kick in if the annual limit of 250k is reached on the Teamcare Retiree Health plan RU ??

 

[burrheadd]

Just put in for retirement after 25 part time apparently I’m eligible to receive A pension 25 and out, i’m taking it while I’m still young and I can get around, got a letter from team care The other day telling me I was eligible for retiree health insurance but only if I was 55 years old, i’m confused because in the contract (Central States) it said when you retire you can stay on the insurance until you’re eligible for Medicare so I’m kind of frustrated because I got at least 9 years before I’ll 55. I don’t mind paying for my insurance at my day job but do they expect us to stick around for 30-35 years until are limbs are practically coming apart! Is anybody on here retired part time at 25 years or 30 before age 55? Thanks in advance!

In Teamcare you must be 55 and it will cost you $200 a month if you have a spouse that’s another $200 a month

 

[rod]

When I worked every Local in Central States negotiated their own health insurance. Don’t know if it is still that way but you best call your Local before you sign the paperwork or you could be up creek without a paddle.

 

[BrownFlush]

In Teamcare you must be 55 and it will cost you $200 a month if you have a spouse that’s another $200 a month

When you hit 65, it's the same cost for the secondary.
But, the added fun part is $180 for A&B Medicare and you have to pay for your drugs. No more $2 or $5 prescriptions.
When we both hit 65 we are averaging around $600 more a month in premiums and prescription cost.
The prophet Mick Jagger was right.... What a drag it is getting old.....

 

[quad decade guy]

That's a lot of money

Sure is.

Depends on how you look at it. Some plans have much a lower premium but they also have a much lower pension payout.

And that's why I stay.

Retirement would just be too costly right now. $120k and free insurance(basically). My wife is a cancer patient. I'm not going anywhere....for now.

 

[ski or die]

Depends on how you look at it. Some plans have much a lower premium but they also have a much lower pension payout.

I bailed when I had 30 years in and at the age of 49. Received my pension and insurance was only $50 per month. I'm past 65 and on Medicare now, but our Local's premium now is $150 per month.

 

[quad decade guy]

I bailed when I had 30 years in and at the age of 49. Received my pension and insurance was only $50 per month. I'm past 65 and on Medicare now, but our Local's premium now is $150 per month.

How much is your pension? Please.

How much did it cost you not working till say 62? Just in dollars please. It must be significant....

 

[IVE GOTTA PACKAGE 4U]

How much is your pension? Please.

How much did it cost you not working till say 62? Just in dollars please. It must be significant....

How much is a year of your life worth?

 

[Thebrownblob]

How much is your pension? Please.

How much did it cost you not working till say 62? Just in dollars please. It must be significant....

Not everyone is worried about getting the maximum amount of dollars. If he can afford it with his lifestyle, great for him.

 

[IVE GOTTA PACKAGE 4U]

Not everyone is worried about getting the maximum amount of dollars. If he can afford it with his lifestyle, great for him.

Exactly

 

[burrheadd]

How much is your pension? Please.

How much did it cost you not working till say 62? Just in dollars please. It must be significant....

Some folks don’t totally rely on a pension
Just sayin…

 

[ski or die]

How much is your pension? Please.

How much did it cost you not working till say 62? Just in dollars please. It must be significant....

$3000 per month. This was the max you could receive at the time. Union clerical wage was $3200 per month, so only $200 less per month plus the $50 per month for insurance. But was ok financially. Had all my toys paid for, bass boat and rv and house was almost paid off. But the real tradeoff was retiring at 49 and not dealing with the stress of the harassment has added years to my life. I was also a union steward, so I dealt with quite a bit of harassment from management because they did not seem to like me. No regrets. Able to spend quite a few vacations and time with family and grandchildren. Other than the decision to marry my wife, but decision I ever made.

 

[quad decade guy]

Some folks don’t totally rely on a pension
Just sayin…

Ok.

So?

I didn't say that. I asked a question.

Just sayin....

 

[quad decade guy]

Not everyone is worried about getting the maximum amount of dollars. If he can afford it with his lifestyle, great for him.

Ok.

So?

The question stands: How much money did it cost him if he would have waited? Till 62.

For example: Ours is up to $4500....it used to be 3000 like his...

$1500 will buy a lot of avgas and vette tires.....into perpetuity.

How much is a year of your life worth?

?

I guess for him....$1500 a month.

$3000 per month. This was the max you could receive at the time. Union clerical wage was $3200 per month, so only $200 less per month plus the $50 per month for insurance. But was ok financially. Had all my toys paid for, bass boat and rv and house was almost paid off. But the real tradeoff was retiring at 49 and not dealing with the stress of the harassment has added years to my life. I was also a union steward, so I dealt with quite a bit of harassment from management because they did not seem to like me. No regrets. Able to spend quite a few vacations and time with family and grandchildren. Other than the decision to marry my wife, but decision I ever made.

I will say this.....

$1500 a month is a lot to pay to leave a situation. Personally, I found a way to fit in and stop being so combative and obstinate.

That's the way I look at it. It has served me well. Regrets? I have a few.

 

[quad decade guy]

$3000 per month. This was the max you could receive at the time. Union clerical wage was $3200 per month, so only $200 less per month plus the $50 per month for insurance. But was ok financially. Had all my toys paid for, bass boat and rv and house was almost paid off. But the real tradeoff was retiring at 49 and not dealing with the stress of the harassment has added years to my life. I was also a union steward, so I dealt with quite a bit of harassment from management because they did not seem to like me. No regrets. Able to spend quite a few vacations and time with family and grandchildren. Other than the decision to marry my wife, but decision I ever made.

Did you get another job? Still work?

Thanks.

 

[IVE GOTTA PACKAGE 4U]

Ok.

So?

The question stands: How much money did it cost him if he would have waited? Till 62.

For example: Ours is up to $4500....it used to be 3000 like his...

$1500 will buy a lot of avgas and vette tires.....into perpetuity.

?

I guess for him....$1500 a month.

I will say this.....

$1500 a month is a lot to pay to leave a situation. Personally, I found a way to fit in and stop being so combative and obstinate.

That's the way I look at it. It has served me well. Regrets? I have a few.

And that's why I put money in the 401K plan so I don't have to do this job for 40 to 45 years

I want to enjoy my life a little bit