Can't say about him but I do.
Hopefully I will be one...... hopefully
The focus on 401ks has destroyed the retirement for millions of Americans over the last generation.
- Thread starter 3838373
- Start date
Hopefully I will be one...... hopefully
realbrown1
Annoy a liberal today. Hit them with facts.
It's a buying opportunity no matter what part of your career you are in.
If it's on sale, it's on sale.
Not if you are taking withdrawals
realbrown1
Annoy a liberal today. Hit them with facts.
Well, I guess if you have very little money outside the 401K plan, and you rely on withdrawals from the 401K plan, then you are right.
But what percentage of people is that?
5% to 10%?
Probably too many.
Many don't have a pension nor have they saved enough in their 401k
rod
Retired 23 years
Brownslave688
You want a toe? I can get you a toe.
Lol what percentage is that.
More like 90%+.
That's kind of the point of this article.
no i wasnt arguing that at all. i was making a general statement about free will vs determinism. its a hard pill to swallow that were often not in control of our lives.
i think wealth redistribution would help since capitalism distributes wealth so unequally to begin with. you gotta hand it to the 0.1% capitalists: they trick everyone into believing its the best system, and they get rich.
and i agree people need to change their understanding of how money works and how capitalism works and then they will see that its a system which is undemocratic which funnels wealth to the 0.1%.
it should be no suprise that if you let a corporation who has an incentive to keep as much money for themselves as possible, then they are going to do a bad job at managing worker`s retirements.
different idea, but ive been thinking how much vacation per year do the capitalists take. and how much do the workers take.
i think when you combine the systemic inequality of capitalism, the way capitalism ruins jobs in the sense that workers would never vote to do that to themselves but under capitalism the capitalists make all the
ty rules, plus climate change because of capitalism, it means we need revolution and a new system.
Last edited:
dookie stain
Cornfed whiteboy
Do you have to do anything besides work for the company a certain number of years to get a pension when you retire or is it just something you get when you're done?
A certain amount of years of service and age., In order for you to qualify for a pension.
UpstateNYUPSer(Ret)
Well-Known Member
The requirements to receive a full (normal) pension vary from fund to fund. In the NYS Teamsters Pension Fund you have to have 30 years of service and be at least 55 years. You have to work at least 1000 hours to receive a full year of pension credit. You begin drawing pension payments on the first day of the month following your retirement so, yes, you can retire on 9/30 and get your first check 10/1.
brett636
Well-Known Member
It varies from one area of the country to another because there are several different pension funds covering different parts of the country. Upstate posted the requirements for his pension, but mine is a bit different. Here pension credits are earned based on the number of weeks that you have worked, and you can work just one day and get credit for the entire week. I need a minimum of 45 weeks of pension credit for that year's of service to count, and we have a 25 and out option with a minimum retirement age of 50. My pension also maxes out at 35 years of credit which would pay $3800 a month currently.
dookie stain
Cornfed whiteboy
I am pretty sure the requirements here are the 80 formula years of service plus age have to equal 80 but I just wanted to make sure it's not something you have to sign up for or do something monthly just work and then I get it when I retire run on sentences are cool
brett636
Well-Known Member
no i wasnt arguing that at all. i was making a general statement about free will vs determinism. its a hard pill to swallow that were often not in control of our lives.
i think wealth redistribution would help since capitalism distributes wealth so unequally to begin with. you gotta hand it to the 0.1% capitalists: they trick everyone into believing its the best system, and they get rich.
and i agree people need to change their understanding of how money works and how capitalism works and then they will see that its a system which is undemocratic which funnels wealth to the 0.1%.
it should be no suprise that if you let a corporation who has an incentive to keep as much money for themselves as possible, then they are going to do a bad job at managing worker`s retirements.
different idea, but ive been thinking how much vacation per year do the capitalists take. and how much do the workers take.
i think when you combine the systemic inequality of capitalism, the way capitalism ruins jobs in the sense that workers would never vote to do that to themselves but under capitalism the capitalists make all the
You are repeating this argument that our lives are often out of our control when the opposite is true. You are ignoring the fact that there are decades and decades of data which show that if you just put a little bit of money away over a long period of time in a plan like a 401k you will have a nice sum of money to enjoy and live off of at retirement. Too many people simply forego saving that little bit of money, which usually amounts to pennies on the dollar, so that they can have a new car in the driveway(which depreciates like a rock), go on a vacation they cannot afford, or simply go out to eat at restaurants when they could save money by eating at home more often. The 1% or even the .1% you keep referring too has nothing to do with people simply being irresponsible.
newfie
Well-Known Member
so if I sit on my but and do nothing you'll give me the fruits of someone else's labor?
Babagounj
Strength through joy
My pension plan worked differently too.
It is based on 1800 hrs / yr.
As a p/t , doing air work and a scheduled inside job, I was able some years to get 1800+ yrs. Qualifying me with a full year's pension.
{ For 3 different yrs I only got 11 months credit @ }
The other p/t's maybe got 6-7 months credit, it all depended on how much you worked.
So when I accepted a full time position ( Combo year 1 ) I already had about 18 years full credit . I left with 33y+ credit and my pension is about $1200 more than what Brett636 posted.
Since I was under the age of 66 , I was classified as an early retirement.
It is based on 1800 hrs / yr.
As a p/t , doing air work and a scheduled inside job, I was able some years to get 1800+ yrs. Qualifying me with a full year's pension.
{ For 3 different yrs I only got 11 months credit @ }
The other p/t's maybe got 6-7 months credit, it all depended on how much you worked.
So when I accepted a full time position ( Combo year 1 ) I already had about 18 years full credit . I left with 33y+ credit and my pension is about $1200 more than what Brett636 posted.
Since I was under the age of 66 , I was classified as an early retirement.
dudebro
Well-Known Member
And with the current state of pensions, the same might happen. How do you think the central states retirees feel with the sword hanging over their heads, as they get older and less able to work? The S&P 500 over the past 10 years, with the worst economic slowdown in a lifetime, averaged 4.7% per year. Your pension invests in the market, hopes to profit, and give you the rest. If they lose money, then you're in danger of a benefit cut. Heads they win, tails you lose. Your pension doesn't come out of a magic drawer that says IBT on it with a 100% guarantee.
the capitalist system already works like that.
rod
Retired 23 years
well the truth is its a combination of us being in control of our lives and not. you keep talking about personal responsibility but thats only part of it, its alot bigger than that.
yea i agree that people should not buy new cars. if you cant afford to go on vacation, whats the point of saving for retirement.
the system is so rigged, it seems like a really bad idea to put all of your eggs in the retirement basket. it would make way more sense if people took 1.5 months or 2 months off to travel every year while they are working.
the median wage in america is $15 per hour. its hard to save for retirement when half of the population is earning less than $15 per hour. wages adjusted for inflation have been falling since 1973. thats the same time wages separated from productivity. so since then productivity is way up so you have record corporate profits, and it mostly goes to the 0.1% who are the primary beneficiaries of this capitalist system.
alot of hte jobs have been outsourced to 3rd world dictatorships. shows how much the capitalists like democracy lol.
we should all be rich, but were not because the economic system so poorly distributes wealth.
and it doesnt help that companies don`t fund pensions anymore which ALOT of htem including UPS should but theyre too greedy.
The Retirement Gamble
