What's new

ABF | Compensation Statement

Roth 401's are nice but you pay taxes the year you put the money in so you are still taxed on it.....nice try though...and before you tell me that you dont pay taxes on the profit you are right...but you still paid taxes on the money and if you lost money on it when you retired that tax money is still gone.
 
ABF381 said:
Roth 401's are nice but you pay taxes the year you put the money in so you are still taxed on it.....nice try though...and before you tell me that you dont pay taxes on the profit you are right...but you still paid taxes on the money and if you lost money on it when you retired that tax money is still gone.
Click to expand...
Don't forget, if you have higher earnings the year you funded your Roth IRA, then you paid more in taxes. For example, if Go's compensation for 2021 is $114,000 and he funded his Roth IRA , then when he retired and took the tax free money out, but he only earned $77,000 that year, he paid more in taxes the year he put it in than he would have in the year he took it out. In this example Go would have been better funding a traditional IRA or a 401k. Are you going to make move money per year when you are employed or when you are retired?
 
Homesick said:
Don't forget, if you have higher earnings the year you funded your Roth IRA, then you paid more in taxes. For example, if Go's compensation for 2021 is $114,000 and he funded his Roth IRA , then when he retired and took the tax free money out, but he only earned $77,000 that year, he paid more in taxes the year he put it in than he would have in the year he took it out. In this example Go would have been better funding a traditional IRA or a 401k. Are you going to make move money per year when you are employed or when you are retired?
Click to expand...
You can't predict what the future tax rates will be and with the government spending money like a drunken sailor, at some point someone will have to pay for it all...thru taxes!!
 
ebark63 said:
I can't imagine what my out of pocket medical would be if I didn't have union benefits. Pulmonary embolism cancer stroke mri mra ct with contrast, missed over a year of work in the last 7 plus years. Buddy works at OD and says all the stuff I went through would have cost a fortune from him. Plus he would have had to reapply after missing 6 months of work at one time like I did. They 'abf' paid my health insurance the whole time I was out.
Click to expand...
That right there is just more proof of the union/non-union difference. Wages are one thing, and with OT after 8/40 in the contract REGARDLESS of what backward-ass state you live in pertaining to OT rules, and OT hours available to those who want it at ABF, some of the non’s can’t even hold a candle to the Union carriers on total wages either. SMH as to why they can’t see the advantages.
 
Trucker 206 said:
That right there is just more proof of the union/non-union difference. Wages are one thing, and with OT after 8/40 in the contract REGARDLESS of what backward-ass state you live in pertaining to OT rules, and OT hours available to those who want it at ABF, some of the non’s can’t even hold a candle to the Union carriers on total wages either. SMH as to why they can’t see the advantages.
Click to expand...
Great post T206. Another plus is the agreed to work rules in a contract. I read that a lot of the non-unions on TB have work rules that vary from location to location as well as varying pay scales depending on location. The ability to file a grievance when you feel you have been wronged is a definately plus as opposed to the "if you don't like it, there's the door" attitude from management at the non-unions.
 
You must log in or register to reply here.
Top