The New Contract And Future Pension Contributions: Are We Ok. Or Are We Robbing Peter To Pay Paul?

[Over70irregs]

What do you mean?

This is an indicator. Wait till student loans in October. I suspect there will be a stall for the election cycle.

Financial distress leading to more Americans pulling money out of their 401(k) plans at an alarming rate

Retirement planning has long been an important consideration for individuals seeking financial security.

www.newschannel5.com

 

[IVE GOTTA PACKAGE 4U]

This is an indicator. Wait till student loans in October. I suspect there will be a stall for the election cycle.

Financial distress leading to more Americans pulling money out of their 401(k) plans at an alarming rate

Retirement planning has long been an important consideration for individuals seeking financial security.

www.newschannel5.com

Some people just don't get it

 

[rod]

My point is that no one should be able to retire at 50 without taking a huge hit.

Retiring at 53 with a paltry 3K a month was the BEST thing I ever did. It gave me about 20 years to be healthy and be able to do ANYTHING I wanted to for those years. Now that I am 75 and every day it seems a new pain takes hold somewhere I count my lucky stars I retired when I did. You all can work until you're 90 if you want as far as I'm concerned but I can truly say I HAVE ENJOYED RETIREMENT.

 

[rod]

@rod

help this fool out

Beyond help.

 

[Johney]

What happens if your wife is a lot younger than you?
They're not going to pay out forever

They do pay here, but there is a huge payout difference if your wife is younger. My buddy set to retire whose wife is 10 years younger will have more taken from his monthly payment than say someone whose wife is closer in age. Due to the fact she will have a longer life span.

 

[Johney]

Retiring at 53 with a paltry 3K a month was the BEST thing I ever did. It gave me about 20 years to be healthy and be able to do ANYTHING I wanted to for those years. Now that I am 75 and every day it seems a new pain takes hold somewhere I count my lucky stars I retired when I did. You all can work until you're 90 if you want as far as I'm concerned but I can truly say I HAVE ENJOYED RETIREMENT.

And to think someone thinks that's wrong. SMH

 

[IVE GOTTA PACKAGE 4U]

They do pay here, but there is a huge payout difference if your wife is younger. My buddy set to retire whose wife is 10 years younger will have more taken from his monthly payment than say someone whose wife is closer in age. Due to the fact she will have a longer life span.

I have my pension estimate I know exactly what the payout is

 

[Trucker Clock]

And to think someone thinks that's wrong. SMH

That was the start of the Central States demise, and the main reason for it. A pension that pays out more years than you actually worked.

 

[Trucker Clock]

Retiring at 53 with a paltry 3K a month was the BEST thing I ever did. It gave me about 20 years to be healthy and be able to do ANYTHING I wanted to for those years. Now that I am 75 and every day it seems a new pain takes hold somewhere I count my lucky stars I retired when I did. You all can work until you're 90 if you want as far as I'm concerned but I can truly say I HAVE ENJOYED RETIREMENT.

Paltry $3K a month? That was more than Central States could afford. That $3K in 1990 is equivalent $7000 today. So $3K was great money back then.

Granted, you're stuck at $3K, but that was good money for quite a while and more money than the pension could afford to pay. And look what happened to the pension fund.

 

[rod]

Paltry $3K a month? That was more than Central States could afford. That $3K in 1990 is equivalent $7000 today. So $3K was great money back then.

Granted, you're stuck at $3K, but that was good money for quite a while and more money than the pension could afford to pay. And look what happened to the pension fund.

Yep---the government stood by and watched it go tits up while it was under their control.

 

[Trucker Clock]

Yep---the government stood by and watched it go tits up while it was under their control.

That they did.

 

[Just A UPS Guy]

Paltry $3K a month? That was more than Central States could afford. That $3K in 1990 is equivalent $7000 today. So $3K was great money back then.

Granted, you're stuck at $3K, but that was good money for quite a while and more money than the pension could afford to pay. And look what happened to the pension fund.

Not that I'm a mathemetologist or anything, but if he's 75 now and retired at 53...how much was $3k in 2001?

 

[Thebrownblob]

Not that I'm a mathemetologist or anything, but if he's 75 now and retired at 53...how much was $3k in 2001?

It was 3k in 2001

 

[Thebrownblob]

Not that I'm a mathemetologist or anything, but if he's 75 now and retired at 53...how much was $3k in 2001?

Rod must’ve been very good with his money even in 2001 retiring on, 36K is pretty Ballsy.

 

[Just A UPS Guy]

Rod must’ve been very good with his money even in 2001 retiring on, 36K is pretty Ballsy.

Sugar. Mama.

 

[What'dyabringmetoday???]

I get concessions to belittle people because I was raised in Jersey, it’s what we do, not meaning any harm.

I can't believe any of you listen to this guy.

 

[BrownFlush]

Sooner or later pension freezing will happen if enough isn't added. Sucks to be you when your retirement time comes and increases do not keep pace with inflation.

COLA isn't in my pension.
Defined is how I thought most were.

 

[What'dyabringmetoday???]

Yep. And UPS is still paying the other half.

I’m sorry, but to be able to retire after 49 years, at age 51 and collect a pension for the next 40 years, is not what a pension was designed to do.

I pension is to replace your income at retirement age.

So did someone start at two years old? Wuh...

 

[Thebrownblob]

Sugar. Mama.

Nice, @rod

 

[BrownFlush]

Paltry $3K a month? That was more than Central States could afford. That $3K in 1990 is equivalent $7000 today. So $3K was great money back then.

Granted, you're stuck at $3K, but that was good money for quite a while and more money than the pension could afford to pay. And look what happened to the pension fund.

I guess 3K in 90 is 7K, but I don't know anyone who got that much in the 90's. It looks like Rod who is 75 started his 3K around 2001-2002.
$3000 in 2000. is only $5300 today
My 3K a month started in 2009. It would take $4200 today to buy what 3K did in 2009.
I was 52. I'm like @rod . Getting out the first day they pay you to not come to work is the best thing you can ever do.