Retiring with APWA
- Thread starter krash
- Start date
brett636
Well-Known Member
Heres a thought, post some new information as this is nothing that hasn't already been said. Yes I know the teamsters, suck, yes I know the APWA claims it can do better with our pensions(although it has no experience doing so), yes I know what the APWA promises as far as pensions go. The questions you grouped all into one and responded with how much better the pension could be are real questions that need real answers. Post something that hasn't already been said, like what will the APWA do about healthcare for current workers, pay, vacations, disablity, etc. What are the bylaws of the APWA and what does its own constitution say. Why should I believe a single word that anyone from the APWA says? They have no credibility as far as I'm concerned. I put about as much stock into what they say as put into the teamsters contract news letters, which isn't much.
I know the APWA is worried that if too much information gets out the teamsters could use it against them, but what they want to do is a major step in a different(note: not better) direction. If they aren't willing to jump into the fire feet first and show the world what they really have to offer I can't support them. It just shows the cowardice they will have if they were to actually negotiate a contract with the company.
Here are ur answers ,Why don;t you ask the teamsters why they have different health care coverage then we do. ask them why they have a different pension plan then we do. ask them why there is no limits on what work they do when they retire. ask them why they took the 25 and 30 and out .ask them ..u friend hard core d*ck weed .. maybe they will give u answer u want to hear. with more of there friend..ing lies do u want more or is it that enough right now ask them why they cut the local in ny and calif... to stay afloat the 769 pension and then ask them why. WE ALL Suport the APWA ... what should i keep on going on i sure he** can ..when the APWA takes office we will be glad to put the 40 cent on the dollar back into the teamster plan for u d*ck weeds and let them take care of ur so called great pension.... maybe when the time is right u will stand up and give account to ur stupid *ss ? that u don't have the balls to ask the teamsters or the ibt ..... grow some nuts and maybe we will give u some answer to ur ? we have nothing to hide compare to the teamster that when u vote for them they cut ur benfits why did they not cut them before everyone had voter ...because they keep on lubicating the ass of the ba and the ba translates it back to the shop stewards.... i can keep on going on ....
Hey Red the guy 2 post down is waiting for your reply. What your solar powered calculator doesn't work unless there is direct sunlight. When the sun comes up tomm try and do the math for us [grin] because we are obviously helpless and we need all of your infinate wisdom to help us make an informative decision. Don't for get to factor in some kind of intrest and be conservative but honest.
705red
Browncafe Steward
No i didnt add any interest, but at those numbers it would have to earn 300% interest to pay me for 12 years with the $300,000 retirement bonus. Not claiming to be a math scholar, if im missing it just explain it.
705red
Browncafe Steward
1eye, did the teamsters take your good eye to? Remember the teamsters are the incumbent, in order to oust them you need to start explaining the positives of the apwa. But instead of answering the questions you would rather dodge them and call names. The teamsters might not be perfect, but you know what to expect, the apwa on the other hand all we see are these outrages claims with no proof. Prove them.
satellitedriver
Moderator
OK, I will try to explain it to you. It is called compounding interest. Since the benchmark used to gauge all funds is the S&P, I will use the long term average gain of the S&P for this illustration.
The S&P average is 11% over the past decades. So I will cut that interest in half to 5.5%.
$11,128.00 a year/ for 30 yrs at 5.5% equals $850,395.00.
If you take that amount and put it into annuity that pays 5.5%, you would receive $ 5,620.00 a month for 20 years.
I am being very conservative with the 5.5% yield over time. Boost that percentage up to 8% and the numbers grow exponentially.
I am no math scholar either, but I did learn simple grade school math.
3brownstars
Well-Known Member
The first thing you need to do if you want to talk numbers is talk to a financial planner and find out what the market has averaged in the past.
Just for the sake of argument, let's say the market will average 12% for the next 50 years and the weekly contribution never goes up again ($214/week).
$214/week @ 12% for 30years = $2,919,000 approx.
If you only take 10% of that out each year that would be $291,900 now divide that by 12 months = $24,325/month.
Ok, you say 12% is pie in the sky. Let's do 6% (that is just above current CD rates).
$214/week @ 6% for 30years = $831,300 approx
If you just take out the intrest of 6% each year that is $49,878.
Divide that by 12 = $4,156.5/month.
Albert Einstein said the most powerful force in the universe is compounding intrest. The reason 705Red didn't factor in the intrest in his calculations is he knows the IBT will be skimming that money off the top.
705red
Browncafe Steward
Isnt it refreshing to attempt to answer instead of dodging? Thats not the $7,000 with the $300,000 the apwa is selling on their website. What happens if i live 50 years after retirement?
705red
Browncafe Steward
Now two of your apwa loyalists have explained the apwas pension plan, neither of you came close to the projected payments that van and danny are promising.
So you admit the ibt will be handling your pension over the next 50 years, welcome back brother, you say the light with your own math(i mean eyes).
3brownstars
Well-Known Member
I think $2.9million will cover the numbers posted at the APWA website. And NO sir I did not admit anything about the IBT except the fact that they would be skimming money off the pension if it were to stay in their control.
satellitedriver
Moderator
You really should go back to school and retake math. I dodged nothing. 5.5% was the lowest reasonable interest rate to do the simple math.
Why did you dodge the simple effect of compounding interest?
APWA does not say that if you take the option a $300,000.00 lump sum that you will receive $7,000.00 a month. It says, if you take that option you will still recieve a pension.
If you live 50 years(105 yrs old) after retirement with CS, what will you receive?
Please, go to your pension plan and be as forthright as I have with the numbers that CS tells me is my benefit.
After 25 years at UPS I will net $761.00.(this has been explained in my previous posts). In 50 years that will not even buy a loaf of bread.
It is refreshing to read another accusation wrapped in a question.
Keep posting.
satellitedriver
Moderator
Friend, please read what you posted. Does that seem coherent to you?
705red
Browncafe Steward
Ok sat, say the apwa wins how will your pension be better, how can they fix it? I just posted my pension payments in another post, i wont lie, or dodge questions, and i dont have a problem saying sorry i just dont know the answer. Im sory if i keep hurting your fellings ill try and tone it down a little.
krash
Go big orange
Sooooooo, the 3 company rep's would agree to the skimming by the 3 Union rep's? Oooooooooo, I know, the company rep's are skimming too, which means the companies will have to contribute more then the rep's can skim more. It's like one big circle. Your so smart 3brown, I say we nominate you to run the treasury at the APWA
Seriously, do yall not actually put some thought into these conspiracy theories?
It only takes 1 eye to see....my stepfather worked for the goverment and when he collected for 20 yrs and pass away my brother inherited the rest of the penison money that was 5o,00 dollars... when u die from the teamster they keep the money it does not go back to the estate..my neighbor retire from the police force and recives 6,000 a month plus gets the cola raises and he retired at 51 with 25yrs of service .. they don't have the money as ups employees have going into a pension so why r we getting short change.... oh yea its that 40 cent that we get not the whole 100... great deal...red705 why don't u put ur hard earn money in a fund that gives u a crappy return ... ups is not going to give the teamsters another dime towards our pension they know it would not go to us...
You my friend would need to contact Ripleys!
3brownstars
Well-Known Member
Sooooooo, the 3 company rep's would agree to the skimming by the 3 Union rep's? Oooooooooo, I know, the company rep's are skimming too, which means the companies will have to contribute more then the rep's can skim more. It's like one big circle. Your so smart 3brown, I say we nominate you to run the treasury at the APWA
Seriously, do yall not actually put some thought into these conspiracy theories?
Well sir then please enlighten us all. Please tell us why Central States is in such bad shape. We have heard the excuse from the IBT that the returns in the market we're down so we lost money, then why aren't all the fund in trouble. If you look at how much money has been put into the fund, factor in the intrest from the track record of the markets, then deduct the payments to retirees, the money should be there.
If we could only get access to the books and see what has been going on. The New York Times is trying to get these answers now but can't.
Seriously, you can't be buying the line of BS fed to you by Central States, or maybe you like to be fed BS and chase it down with a glass of IBT Kool-Aid.
satellitedriver
Moderator
Cool with me. Do not worry about hurting my feelings. I do not wear them on my sleeve. I like your tone, when it is coherent.
They(APWA) can only try to repair the damage done. My pension may not change that much, do to my age and years of service under the CS plan. The future of younger UPSER's pensions would drastically improve compared to mine.
