Crazy Trucker
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Still in loser denial I see.
FedEx Freight | The Union Debate Thread
- Thread starter Jeff
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Still in loser denial I see.
RED your ridiculously misinformed, I almost feel sorry for you from some of the crap you post, ALMOST!!!!!! There are so many pension funds all over this country that are in trouble because of Wall Street and Big Government.. Don't have a damn thing to do with the Teamsters!!! They had basically no control over the central states fund! You need to read and educate yourself a little better before using it as a scare tactic for your cause!! There are way more Pension funds in trouble other than Centrsl states, I believe even your's has probably been effected in some way? The Teamsters will not take you out back behind the building and beat you Red, they don't turn you upside down and shake your money out of your pocket either!! And for no more than you pay in dues ever month for what you receive in return is a Damn Good Investment!! Been a teamster since 1975 and wouldn't have it any other way!!! Don't be scared Red, regardless of what you think? There are some very hard working family oriented folks who are Teamsters who most likely are always there when you need them!!
johndeere4020
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LTLIndentured
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The problem with the fund isn't caused by Wall Street mismanaging it. The problem with the fund is simple math. More ppl taking out money than there are ppl putting money in. That is how ibt has failed its members. Where are all the new union members? What's Hoffa been doing? He can't get more companies to go union for various reasons, but until he can get more ppl putting money into the fund it will continue to decline. If Wall Street is the reason central states is collapsing then wouldn't stand to reason that our 401k managed by Wall Street would also be tanking? It's not
Crazy Trucker
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Another sheep following the herd. So Central States didn't loose anything in 08 when the financial meltdown happened? Do some research http://www.ibtimes.com/pension-fund-run-wall-street-cited-push-cut-retiree-benefits-1748439. For the most part you are right about membership they have the same problem as SS nobodies fault http://www.newsmax.com/Newsfront/social-security-turns-80/2015/08/09/id/669208/.
This is for you if you think your 401 k didn't loose in 08 the average 401k lost 14 percent http://money.usnews.com/money/retir.../12/how-did-your-401k-really-stack-up-in-2008. Our 401k could be turned into pennies in one day on stock market wake up the stock market is not a place for anyone's retirement. The reason for the 401k deal is to save large corporations money. Look at UPSF retirement they get 105 or 115 per year of service(can't remember exact) for retirement so 30 years at 105 is 3150 a month. Lets say the average Fed Ex Freight driver makes 60k per year 6% match on 401k is 3600 that is almost what the UPSF driver gets in 1 month big difference.
Honestly, CT, where do you think pensions funds are kept? In a giant mattress??
At least you understand about inflow and outflow.
Yes you lose money in the market. You lose money on bad loans. You lose money from theft.
But someone has to cover those losses to meet the obligations. Companies don't want to do that. Local governments don't want to do that, after they found out what happens when they promise too much.
At least you understand about inflow and outflow.
Yes you lose money in the market. You lose money on bad loans. You lose money from theft.
But someone has to cover those losses to meet the obligations. Companies don't want to do that. Local governments don't want to do that, after they found out what happens when they promise too much.
johndeere4020
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See once again your either lying or ignorant. You're comparing annual contributions to monthly withdrawal at retirement. 6% of $60,000 is $3600 for one year. Now multiple that by 30 plus inflation and see what your number is. Everybody lost money in the markets in 08/09 but no 10 year period in the market has lost money. Most funds have recovered somehow from those losses. I'll admit no one know what could have been but we have recovered. But as has been pointed out the main problem is ratio of people working per retiree it's the same problem as social security. If you're going to attempt to make an argument "truth monster" try telling the truth.
Crazy Trucker
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I understand where pension funds are kept but it doesn't mean they have to keep them in high risk funds. I would rather see modest gains rather than a huge loss when the market tanks. I will ask you what do all these large companies do with all this money they are saving on pensions?
johndeere4020
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Your still missing the point, these funds can't keep up with their obligations on modest returns. The underlying problem still exists, the employee to retiree ratio. What does the money a large company saves (many of which never had pensions by the way) have to do with anything? You want a piece of their profit when times are good, are you going to give back to make up for their losses when times are bad?
The fact remains we will not be in a multi-employer fund to begin with. There are many single employer funds that are doing just fine and we can even stay in what we have. It's all negotiable. I think it's safe to say our current pension sure as hell isn't promising too much Dave, that's for damned sure... Of course our executives have the same pension PLUS the parity pension plan which pays out big time and they don't even have to worry about paying the taxes on it either when they collect at retirement along with the free health insurance they have for life because of their CONTRACT. The company didn't mind promising them so much but we aren't worthy of anything remotely close huh?
johndeere4020
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First of there are no "fact" here only opinion from both sides. Second you always act as though the pension is your only retirement which its not, it's part of a larger package. It isn't intended to compare to a stand alone pension. I got my statement a couple of weeks ago, I think I have $4500 in there for 17 months of work, I'm not sure what I will (or could whatever the case may be) drawl but that's not bad for a little over a year plus my 401k match. I can tell you I'm in a MEPF and it has me thinking about my future. About this tax thing, I saw where it was posted that some excutives don't pay taxes on bonuses but I've never read anything that says they won't pay taxes on retirement. Are you lying or did I miss it?
Yes, it IS a fact we won't be in a multi employer fund. I never stated the pension was our only retirement that's just you talking there. Glad your happy with what you have locked in for 17 months of service, many aren't very impressed with the pension but as you said opinions vary. I'm not a liar, here you go:
http://www.wikinvest.com/stock/FedEx_(FDX)/Overview_Pension_Plans
johndeere4020
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No it is not a fact sorry it is an opinion, one that I happen to agree with I don't think you'll end up in a MEPF. But I also don't think you'll get a contract. Second I realize you never "stated" it was your only retirement, you guys are good at avoiding statements like that so you can say at a later date that you didn't say it. But you guys continue to compare it to other pensions as if it should be equal when you know full and well it's not supposed to be. What do you want a full pension plus a 401K? That's never going to happen, you might get a pension and a 401K without the company match but that won't necessarily make it any better than what you have now. I read your article, I can't see anywhere that they don't pay taxes on their pensions. The plan that is described is a tax advantage for the employer but I don't see where it say they're not going to have to pay taxes. From what I read this isn't just talking about excutives it does talk about excutives in the 401K section but I still see nothing about not paying taxes. So as I see it your cherry picking "fact" to make your case which is dishonest at best.
I have a hard time understanding how you can make statements regarding the compensation of FXF executives. Have you seen a contact of theirs? How high up do you have to be to get one of these contracts? You are basically saying that they don't have to worry about healthcare or taxes for the rest of their lives? I just find your information pretty fantastic and would like some supporting information.
Cab Lizzard
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Google it your the experts on here
Nothing there shooter, assuming that he is using the same kind of "proof" that you seem to prefer.......
Crazy Trucker
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Feel free to fill us in with the facts af. Your in management set us straight. You not get the same deal he is talking about or do you actually know what the executives get?
Never said that I did, I get the same "deal" as everyone else in the company as far as I can tell. I would be just as interested in what he was describing as anyone else. I am guessing hoot hasn't got anything concrete to base his claims on though......just a mixture of propaganda mixed with channel 4 gossip.....
Crazy Trucker
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What does as far as I can tell mean? Does that mean you don't know what the executives get? How do you know he doesn't have anything concrete? Don't give us the normal run around manager talk set us straight.
Trucker 206
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Let's do a little math, Purple. How much do you pay for your medical/dental/vision insurance? ABF drivers pay nothing. How much is FXF putting into your retirement for you, and how much do YOU have to put in out of your own pocket to trigger a match? ABF puts $6.72/hour into my pension...again, costing me nothing. Oh, but there's that little $59/month in Union dues. So you tell me, which is the better package? And let's not even talk about the securities that come with a Union contract.
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