Boots :
: brother, you mean hip waiters lol
TForce | Negotiations Update May 26th
- Thread starter FreightDriver
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: brother, you mean hip waiters lol
Lucky they are getting 3 days, I went weeks at a time without working. Don’t you think that might affect someone’s retirement when that happens year after year?
Don't let them cut that pension and or continue to fund at current contribution rate must be an increase!
peckerwood
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Another bargaining chip for the company to say why offer 30 and out?
Save on Workers comp and health insurance claims. Promising workers retirement at the end of their labors was considered a countermeasure to socialist critiques of exploitative capitalism.
The company wants old guys gone. Offer better buyouts, lower the premiums of the retirement insurance(once you hit 65 the company is free of that expense), get rid of pension accruals after 30 years, offer a better monthly benefits for 25 to 30 years of service.
The company has maxed out on the retirements under the current system, they will have to offer more to get guys to leave.
The company has maxed out on the retirements under the current system, they will have to offer more to get guys to leave.
FreightDriver
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The rumor is that the next buyout offer is for $85,000?
$85,000 for what that's nothing you will go through that in a few years?
Toliet Paper
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IF you were looking to leave the company in the next few months to maybe a year that'd be a great deal! But as we all know rumors typically aren't true, time will tell.
If i was on the fence about retiring that $85,000 would have me signing my papers....
Depends where you are at retirement planning-wise, because after taxes and claiming it on your federal taxes which amounts to basically a double tax you would be lucky to clear 50,000......probaly a nice send off if you planned on going within a year but my opinion is if you ain't talking 100,000-200,000 not worth it and i'll ride it out.
The marginal tax rate for a married couple with taxable income between $83,551 and $178,150 is only 22% on amounts over $83,551. Your claim of "double tax" makes no sense, whatever that even means. The $85,000 would be taxed at 22% not the 41% as you claim ($35,000 on the $85,000).
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Do you know how TForce is paying the $85,000? It doesn't have to be W-2 money. If it is paid as a lump sum retirement payment, it can be rolled, tax free, into an IRA. I did that with the make-up money from Western Pa. Pension Fund. $35,000 into a rollover IRA tax free. I only pay taxes when I take out the RMD.
Good planning on your part, unfortunately some will need the cash now hence my reference to depends where you are retirement planning-wise. You are astute while many are not in this area. Regardless I still would need the numbers I stressed initially to even take them seriously in my case which is 2 years out.
I'm no tax expert and maybe you are or someone else will can enlighten with this......I thought if given a lump sum pension amount from your employer you can either roll over to tax sheltered IRA/401K etc. and pay a normal tax when eligible to withdraw, while if you cash out the employer is obligated to take out taxes plus when you file federal the amount received will have to claimed as added income which means you would pay more in taxes than normal which is why I call double tax.
Clarification and correction is all thats needed in this discussion please.
But isn’t a retirement payout the same as a bonus??…
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But isn’t a retirement payout the same as a bonus??…
Depends on how it is paid. If it's paid on a W-2, it will be taxed as earned income. If it's paid on a 1099R and rolled directly from employer to an IRA rollover account, it will not be taxed until you withdraw it. If it's paid to you on a 1099R, you have 90 days to put it into a new or existing IRA account.
Maybe Tri will explain this again as it's confusing.But isn’t a retirement payout the same as a bonus??…
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That's how I look at it, it's a bonus for surviving almost 45 years in this business.But isn’t a retirement payout the same as a bonus??…
I think Tri is recuperating from a stroke…..Maybe Tri will explain this again as it's confusing.