Yellow | Fixing Pension Idea's ??

too bad every one is worried now after the horse is out of the barn .
years ago we had a problem with central pa teamsters fund and we fought hard for our.
when we were starting our fight we contacted guys from central states for more support to fight these guys running the plan .
we were told that they had it made and did not want to make waves ..
now i just recieved a letter saying central pa is 89% funded and got a 4% raise in my monthly check.
you cant pay some one a flat fee like central states does to invest your money . they need to earn it by being payed a % of what they make for you if they dont they dont get payed

I'm not saying it doesn't exist, but I never heard of a financial adviser working with a fee arrangement based on a percentage of gain. They typically work on a percentage of total asset value or a flat fee type of arrangement. Usually flat fee is best since it eliminates the incentive for them to invest in assets where they earn the highest commissions rather than where the returns are best.
 
i did that at Preston and Yellow. Here at Batesville most guys back their entire SET into docks and truckstop parking spots. Our converters have cables instead of chains. Helps....

Perhaps jimmy g is Methuselah?
 
flat fee makes them not care if you make money or not .they still get theirs

But when they work on commission, they tend to steer your investments into funds that make them the highest commissions, funds which may not be the best for you the investor. Most financial advice recommends going with flat fee based advisers from what I've read and learned. As I said, I've never heard of an adviser taking a fee as a percentage of the investment gain. If so that's news to me. And anyway, the flat fee method fixes the fee as a percentage of the total value of the investment being managed, so there certainly is an incentive to grow the investment.
 
The only way this country's pension problems can be fixed is by the U.S. Congress. They created this mess so let them fix it. For years they have past big business anti labor pension laws that have weaken our status in the middle class. Big business doesn't want pensions or the labor movement to have any power.........Call or write your elected officials and tell them to stop catering to the Koch brothers etc. and start looking out for the workers of America.

Congress doesn't fix things, anything. Koch brothers? You must be the guy that actually listens to Harry Ried.
 
Congress doesn't fix things, anything. Koch brothers? You must be the guy that actually listens to Harry Ried.

No, I'm not listening to Harry Reid. I'm listening to the head of the PBGC

The Pension Benefit Guaranty Corporation released the following statement today on the findings in a study released by the Pension Coalition.

"We agree that PBGC premiums need to be reformed," said PBGC Director Josh Gotbaum. "It's important to understand that this Administration and the previous one supported premium reforms. The President's proposal would allow PBGC's Board to both raise and lower premiums in a way that is fair, affordable, and preserves pensions.

"Unlike the FDIC and other Federal insurance programs, Congress has continued to set PBGC premiums and has done so in ways that both underfunds PBGC and is convincing some companies they shouldn't offer pensions at all."
PBGC Responds to Study on PBGC Premium Increases

The linked fact sheet for single employer plans notes that the PBGC guarantees pensions up to $59,320 per year for a single employer plan – nearly five times as high as for a multi-employer plan.

Big business, including the Chamber of Commerce, is opposed to any increase in PBGC premiums. They are comfortable with squeezing workers pensions to the minimum or out of existence
TDU says: Increase Support for Pension Guarantees! | Teamsters for a Democratic Union

Why would "big business" (Koch bros etc.) be against the PBGC raising premiums? They don't pay the premiums the pension funds do. Why won't congress increase the premiums? Maybe because congress panders to corporate America.

If the last 2 administrations supported premium reforms why has congress ignored them and continued to let the PBGC go underfunded? Big business wants to do away with pensions and continue to weaken the labor force.
 
Are you serious? Why a retiree’s pension should be cut when teamsters from YRCW companies are the ones that have voted multiply times to allow YRCW to pay in 0 contributions for 2 years (2009-2011), then only 25% of contract rate till 2019. You want retirees to pay for your mistakes. Maybe every Retiree should be able to vote on their company’s contracts if it is going to affect their benefits!!!

The YES voters voted to accept concessions 4 times so they and they alone need to accept that they are to blame for their pensions...NOT THE RETIREE'S!!!
JUST THANK THE YES VOTERS!!!

Well papajohn, I've voted no repeatedly, but yet it's my fault the teamsters allowed the biggest contributor out? Personally they should liquidate the fund entirely, it will go into default, that is going to happen. As for the retirees here's some words you need to remember; "based upon funds availability". Your benefits will get cut!
 
If PBGC premiums need to be increased they should come out of the funds' managers' pay. I'm held accountable for everything I do and they should be too.
:soapbox:
 
ABFer,
What if we took it one step farther. Wallstreet sold pension plans bad investments, this is an indisputable fact. Elizabeth Warren, a senator from NH I think, has been jumping up and down about this but, no one is backing her... What if we all got behind her and backed her?
 
That takes guts. I usually only like to do that when no one's around. I hate having witnesses when I screw up! :smile:

I pull 53s on my run. I can back a set of pups if you have time, and yes, it's embarrassing at times. We have guys that can hit a dock with a set in one or two pullups. Here, my 3 million miles makes me a rookie....
 
ABFer,
What if we took it one step farther. Wallstreet sold pension plans bad investments, this is an indisputable fact. Elizabeth Warren, a senator from NH I think, has been jumping up and down about this but, no one is backing her... What if we all got behind her and backed her?

She's a 'Government is god' communist from Mass. The government big enough to provide all your needs is big enough to take everything from you....
 
Trying to hold those that caused this mess accountable, does not make her a "'Government is god' communist from Mass".
 
Are you serious? Why a retiree’s pension should be cut when teamsters from YRCW companies are the ones that have voted multiply times to allow YRCW to pay in 0 contributions for 2 years (2009-2011), then only 25% of contract rate till 2019. You want retirees to pay for your mistakes. Maybe every Retiree should be able to vote on their company’s contracts if it is going to affect their benefits!!!

The YES voters voted to accept concessions 4 times so they and they alone need to accept that they are to blame for their pensions...NOT THE RETIREE'S!!!
JUST THANK THE YES VOTERS!!!

Teamsters working at YRC have suffered already from all of this. When I get to retire at 65 now I will have 48 years on the job. Maybe they should keep all the monies paid on my behalf so you can get yours and while your on a roll tell the people who worked at companies that closed to **** off too. That's one of the things wrong with this Union today to many Me's and not enough We's
 
we had what was called a rip retirement plan in central pa .that money went into an account only accessed by you . when you retire you can turn that money back to the fund and take a larger monthly or take the lump sum at a reduced monthly .
i went with the lump sum and reduced monthly
 
we had what was called a rip retirement plan in central pa .that money went into an account only accessed by you . when you retire you can turn that money back to the fund and take a larger monthly or take the lump sum at a reduced monthly .
i went with the lump sum and reduced monthly

Smart move. Having more control of your own funds is to me a good idea.
 
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