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Yellow | Help for our Pensions still on track !!!

Jaloc said:
Australia has a relatively conservative and mandatory retirement saving system for its citizens, which requires them to put away 9.5% of their salaries every year into a private/public 401(k) called a superannuation account. This amount will be raised to 12% between 2021 and 2025.
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Brilliant!
 
Jaloc said:
Australia has a relatively conservative and mandatory retirement saving system for its citizens, which requires them to put away 9.5% of their salaries every year into a private/public 401(k) called a superannuation account. This amount will be raised to 12% between 2021 and 2025.
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I would need much information about this before passing judgment. Choice of funds, investment strategies, fees, fiduciary responsibilities of managers. If mandatory contribution is required then, imho, they should be government insured on some level.
 
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Roadway spy said:
Good selling point for employees, we’re going to put half into a pension but it’s not for you it’s for other teamster retirees because your special.
What a bunch of morons.
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From what I understand all the working and retired YRC employees will be made whole by this bill. We will not be penalized by the reduced rate YRC has been paying.
 
Bubba Gump said:
CRAZY deep down in your gut do you really think congress is going to bail out rich Teamsters. Between pension, S.S. and 401ks Teamsters are knocking down over $100,000 grand a year. I know you needed the man power, but do you think it was a good idea to promise those NY teamster back pay on their MPRA cut pensions. Their $3,500 a month, cut pension is greater than a CSPF regular pension. How much will their back pay check be for $60,000, $70,000 grand. Seriously you can't expect this to make it through the senate.
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I can tell you there Bubba this retired Teamster isn't anywhere close to $100,000 a year.. But yes I do believe it will pass the senate.. And I do hope it passes. Look who is running the committee it has to go through.. Bernie Sanders.. As far as what other locals get in pensions?? They over the years more than likely put more into their pensions.. I believe 701 in Jersey was another one that members took a smaller increase in wages and put it into their pensions so why not give it to them??
 
crazy said:
I can tell you there Bubba this retired Teamster isn't anywhere close to $100,000 a year.. But yes I do believe it will pass the senate.. And I do hope it passes. Look who is running the committee it has to go through.. Bernie Sanders.. As far as what other locals get in pensions?? They over the years more than likely put more into their pensions.. I believe 701 in Jersey was another one that members took a smaller increase in wages and put it into their pensions so why not give it to them??
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Well it's obvious they didn't pay in enough. So it must be obvious they shouldn't have taken out so much. I'm a little confused why it is the tax payers problem. The PBGC will insure the pension funds.
 
Bubba Gump said:
Well it's obvious they didn't pay in enough. So it must be obvious they shouldn't have taken out so much. I'm a little confused why it is the tax payers problem. The PBGC will insure the pension funds.
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Yeah the PBGC will pay like 25 cents on the dollar.. The multi employer pensions are a lot like the Social Security system.. Nothing more than a ponzi system ...Many of the guys that gave up raises to put into the pensions were working when a time that there were a whole lot more union carriers.. So your comment that they didn't put enough in?? Irrelevant.. When government workers get pensions and many many do it is the taxpayers that foot the bill.. So if I have been paying taxes to pay for government workers pensions then I do not see a problem with them helping my pension fund out..
 
crazy said:
Yeah the PBGC will pay like 25 cents on the dollar.. The multi employer pensions are a lot like the Social Security system.. Nothing more than a ponzi system ...Many of the guys that gave up raises to put into the pensions were working when a time that there were a whole lot more union carriers.. So your comment that they didn't put enough in?? Irrelevant.. When government workers get pensions and many many do it is the taxpayers that foot the bill.. So if I have been paying taxes to pay for government workers pensions then I do not see a problem with them helping my pension fund out..
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I actually called my congressmans office and among other things said, " On years that the government runs a budget deficit is Mr.##### going to forego his pension as there is no money in the budget for him?". Crickets....then I was told I had a good point.
 
When the pension warriors are crying on democrats shoulders, the democrats eyes are rolling to the back of their heads, thinking. These stupid rich teamsters think I'm actually going to bail out their pension fund. Typical New York teamster, $60,000 pension, $30,000 S.S., $18,000 401k that's almost $52 dollars an hour for a retire, Bernie's fighting to get a $15 dollar minimum wage. Do you really think he's going to give you a 100% bail out. Com'on man be serious.
 
Bubba Gump said:
When the pension warriors are crying on democrats shoulders, the democrats eyes are rolling to the back of their heads, thinking. These stupid rich teamsters think I'm actually going to bail out their pension fund. Typical New York teamster, $60,000 pension, $30,000 S.S., $18,000 401k that's almost $52 dollars an hour for a retire, Bernie's fighting to get a $15 dollar minimum wage. Do you really think he's going to give you a 100% bail out. Com'on man be serious.
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You really should do more research on the subjects you wish to comment on as it would make you a more effective TROLL.
 
Bubba Gump said:
CRAZY deep down in your gut do you really think congress is going to bail out rich Teamsters. Between pension, S.S. and 401ks Teamsters are knocking down over $100,000 grand a year. I know you needed the man power, but do you think it was a good idea to promise those NY teamster back pay on their MPRA cut pensions. Their $3,500 a month, cut pension is greater than a CSPF regular pension. How much will their back pay check be for $60,000, $70,000 grand. Seriously you can't expect this to make it through the senate.
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It will !!!
 
crazy said:
Yeah the PBGC will pay like 25 cents on the dollar.. The multi employer pensions are a lot like the Social Security system.. Nothing more than a ponzi system ...Many of the guys that gave up raises to put into the pensions were working when a time that there were a whole lot more union carriers.. So your comment that they didn't put enough in?? Irrelevant.. When government workers get pensions and many many do it is the taxpayers that foot the bill.. So if I have been paying taxes to pay for government workers pensions then I do not see a problem with them helping my pension fund out..
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So then private sector pensions become the same as public sector pensions. The sky's the limit, who cares, the taxpayer is the ultimate payer. It's no different than what the universities did with the student loan program. Milked it for every nickel they could extract, wasted it on luxury amenities that had nothing to do with education, now they want the taxpayer to swallow the pill.
 
Puff Driver said:
yes the quid pro quo would not have worked.
But the millions of $$$ paid to Biden was an investment from the teamsters for the corrupt Biden and his thieves worked.
We have folks living on the streets and he is taking billions of $$ and putting it into a failed pension plan that is only extending the day of death.
The teamsters and their lack of attracting new members is what killed the pension.
Now the taxpayers must forcibly pay for this colossal failure.. Steal from working folks to subsidize the teamster failure?????
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Retired members spend that pension money its not like they get the dough and light it on fire
 
ED FORCE ONE said:
Retired members spend that pension money its not like they get the dough and light it on fire
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Some of them hide it under their mattresses.................................

The question is why should the American tax payer some of whom have no or reduced pensions themselves(think Bethlehem Steel and probably a thousand others) be on the hook for a couple failed plans(there are a lot of successful ones still) as the union stands by and raises money for a bunch of other causes?
 
Puff Driver said:
yes the quid pro quo would not have worked.
But the millions of $$$ paid to Biden was an investment from the teamsters for the corrupt Biden and his thieves worked.
We have folks living on the streets and he is taking billions of $$ and putting it into a failed pension plan that is only extending the day of death.
The teamsters and their lack of attracting new members is what killed the pension.
Now the taxpayers must forcibly pay for this colossal failure.. Steal from working folks to subsidize the teamster failure?????
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Glad you clarified that.
I thought all this time it was my lavish lifestyle.
 
1984Sideways said:
I am seeing about 50 years worth of chronic underfunding of pensions from counties, cities, school systems, states and so on so forth etc. There is no money sufficient in any of them to take care of everyone.

It will take trillions to fully fund against the next oh... 60 years worth of retirements who get possibly to live another 40 years on it. Plus the losses of failing to fund properly all those plans the previous 50 turns into a boondoggle that the Country cannot fix with a bailout.

That wont stop them from trying now that they are in a position to do it. I hate to say it, the USA is preparing to "Print" from thin air almost as much if not more than that amount used to fight world war two in a year or less with 3 more years to go at a rate of government spending certain to be two or three times the total value of our National Annual Economy.

If the Value of 401k's in accounts total about 19 trillion on wall street at the few thousand banks in our system Uncle Sam can start there. Poof.
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Wrong!!!!
Not 50 years of underfunding. 50 years of over promising. Funds were never going to be able to pay for 30 and out pensions at $3500 a month while people were living well into their 80s. It gave workers false hope and destroyed their incentive to save and invest.
 
Razorblade said:
Wrong!!!!
Not 50 years of underfunding. 50 years of over promising. Funds were never going to be able to pay for 30 and out pensions at $3500 a month while people were living well into their 80s. It gave workers false hope and destroyed their incentive to save and invest.
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WHOA,WHOA, its 25 and out get it right there champ.
 
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