What's new

Holland | 401k or teamster pension?

U

usfsactown

TB Lurker
Credits
0
Would you rather have to pay for your retirement(401k),or get a pension? Its a no brainer,take the pension.but the vp & t.m. have told so many lies,and harrasssssedd everyone in sacramento california,i dont think we have enough cards.The :butt kiss:ers are going to win,im ashamed to wear the reddaway shirt......
 
I'd much rather take my teamster pension contributions and put them in a mutual fund in a 401k but that's just wishful thinking. Pensions aren't allowed to invest as aggressively. Its still a better deal than a company match 401k. They just don't contribute enough.
 
You can do both. The teamsters have a 401k plan with mass mutual. If you put money in 401k it will lower your tax and give you more net in the paycheck. Mass mutual has different funds to invest in and it is not associated with the teamsters (only mass mutual is involved with the money). Their web site is MassMutual Financial Group.
 
sarcastic b said:
You can do both. The teamsters have a 401k plan with mass mutual. If you put money in 401k it will lower your tax and give you more net in the paycheck. Mass mutual has different funds to invest in and it is not associated with the teamsters (only mass mutual is involved with the money). Their web site is MassMutual Financial Group.
Click to expand...
I guess what I was trying to say is I believe I could beat the lousy investments they use in the pension fund. If the company just paid me the $200 a week or whatever it is instead I think I'd be a lot better off. Wouldn't have to pay the pension managers either.
 
I agree, Just think what you could do with the social security money too.

But since we cant change either, I have been putting money in the 401k. Maybe one of the three will have some money left:hysterical:
 
see the problem with a 401k is you have to be in your 60's to start withdrawing it. I will be 52 collecting my full pension then when I reach 65 I will get my money from my 401k and social security if it's still around.
 
I dont think you can collect the full pension at 52. I believe you have to be 57 or take a reduction. If you can you can also collect at 591/2 from 401k. The 401k also will reduce the amount tax you pay now. A wise person would be invested in the pension 401k and social security
 
you are right pension will be a reduced amount but still over $5000.00 a month. I know guy's retired last year @ 54 gets over $900.00 per week AFTER paying health. I can live with that until my 401k starts paying.
 
Justice said:
see the problem with a 401k is you have to be in your 60's to start withdrawing it. I will be 52 collecting my full pension then when I reach 65 I will get my money from my 401k and social security if it's still around.
Click to expand...

You can start withdrawing from your 401K penalty before you are 59 1/2 years old. It is called a "72(t) Early Distribution".

Jerry
 
sarcastic b said:
You can do both. The teamsters have a 401k plan with mass mutual. If you put money in 401k it will lower your tax and give you more net in the paycheck. Mass mutual has different funds to invest in and it is not associated with the teamsters (only mass mutual is involved with the money). Their web site is MassMutual Financial Group.
Click to expand...
are you guys getting a company match on your 401k contributions? do other teamster represented freight co's get a match?
 
no company match, but they pay for our pension and with good wages I have been in the 401k since 1989 and it has done pretty good.
 
you guys who think a 401k is going to net you any kind of a substantial gain over a pension are on crack.you need to do all forms of savings-1.PENSION 2.IRA 3.401K 4.SS
the pension will net the biggest monthly payout over all of them but you must secure all 4 avenues to protect your A S S
there are NO mutaul funds in the YRC CRAPPY 401k that will give you anything close to a 10 percent annual return.
 
dave7v said:
you guys who think a 401k is going to net you any kind of a substantial gain over a pension are on crack.you need to do all forms of savings-1.PENSION 2.IRA 3.401K 4.SS
the pension will net the biggest monthly payout over all of them but you must secure all 4 avenues to protect your A S S
there are NO mutaul funds in the YRC CRAPPY 401k that will give you anything close to a 10 percent annual return.
Click to expand...

You're the one that is on crack. If I was to retire right now, my 401K will provide an income that is DOUBLE what a teamster pension will provide. And I have 20 more years to go before I retire.

Morale of the story... keep doing and thinking what the poor do and I guarantee that you will stay poor.
 
Justice said:
see the problem with a 401k is you have to be in your 60's to start withdrawing it. I will be 52 collecting my full pension then when I reach 65 I will get my money from my 401k and social security if it's still around.
Click to expand...

59 years old to start taking money from a 401K, without being penalized.
 
jawilljr said:
You're the one that is on crack. If I was to retire right now, my 401K will provide an income that is DOUBLE what a teamster pension will provide. And I have 20 more years to go before I retire.
Click to expand...


jawilljr, My pension will be paying me $4400 a month at age 57.(36 years of service) Are you saying you now have enough money to get $8800 a month for life out of your 401K and you still have 20 years to go? After 20 more years will it quadruple what the Teamster pension is paying?

Just curious, what percentage do you put into your 401K and how long have you been doing it? I've been putting between 10 and 14% into mine for over 13 years and I'm not even close to what my pension will pay me yet.
 
JAWILL-
would you like to share your secrets of investing or are you talking out of your BUTT.if you have been contributing 10% and receiving the maximum match from USF over the last 15 years your 401k is totaling no more than 300k thats if your in the right investments.the average is lower than that.at the 20 year mark the most you could possibaly have in 401k is $450,000.that will be gone in 15 years if your collecting 3,000 a month.you have been brain washed by the people at fidelity and USF.according to fidelity those of us that have been doing the max for the last 5 years should have 2 million dollers in 15 years.:hysterical:
you also sound like somone who follows a political party line.thats your first mistake.the democrats and republicans know how to keep us divided partner and this is a key issue in doing so.
 
jawilljr you're living in a fantasy world, you must be the dude that's been talking to ABF and UPS trying to convince that there retirement would be better than the teamster pension if you believe that, I've got good news for you the tooth fairy is paying better than ever before so go get all your teeth pulled and money will never be an issue for you again, and someone might even perpose to you, then just look how wonderful your life is gona be.
 
have both i wish they had 401 30 long years ago the check i get once a month is nice but the other check that be very nice to. you can get at 59 or later
 
411 on the 401k

sarcastic b said:
You can do both. The teamsters have a 401k plan with mass mutual. If you put money in 401k it will lower your tax and give you more net in the paycheck. Mass mutual has different funds to invest in and it is not associated with the teamsters (only mass mutual is involved with the money). Their web site is MassMutual Financial Group.
Click to expand...

Thanks for the info,i have a 401k,i would like to have the teamster pension as well.Two retirements is better than one,were in the central division now so maybe the crystal palace will take care of sacramento ca.,now that were in their division................
 
There is no way on earth that a 401k will provide more money a month than a pension. You have to remember that the pension you get for life the 401k will run out long before. It must be nice to be in dreamland all the time. Even the fidelity rep at one of the meetings said to have both is the best way to go.
 
You must log in or register to reply here.
Top