12-03-2007, 09:34 PM
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 | A kinder,gentler,Mod | | Join Date: Apr 2006 Location: Buffalo R-77 retired
Posts: 2,414
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Quote:
Originally Posted by Overnite  you are clueless, go look up enron pension, go look up delta pension or I will compile a list for you these people were promised pensions and got nothing,
There is no such thing as an enron 401k or adelphia 401k, companies don't run 401k's, 401k's are 100% your money and cannot be touched by anyone except you EVER!
when enron went down the pensions dissappeared, not the employees 401k
Same with delta and IBM there pensions dissappeared.
401k is your personal property.
A pension fund is 100% controlled by the company and can be borrowed and spent at the companies lesuire, I am on my way to work and can't find links for you to educate yourself on, how about you find some for me to read up on these adelphia and enron 401k's, or facts to back up anyother thing you listed. | Obviously you have lied in your profile, listing yourself as a driver for Overnite. Your lack of knowledge of the Teamster pensions indicates you are a newbie in the industry, if you are even in the industry. I'm sure many of the more educated non union employees (GFY, APO, how about a little help here for this young man) who are familiar with the Teamsters will chime in here and fill you in. Do a Google search on SEPF and MEPF, if you know what they are, and get a basic education of how pensions work. 99% of company matches in 401k's are with company stock. Most companies, such as Enron et al; would not allow their employees to sell their shares of Enron stock in thier 401k's as the company went up in flames. Until you learn the basics, stay in the minors and don't come to play with the big boys. Your in way over your head. PS; be careful with the name calling. (Rule 2)  |