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Pension really fixed, not so sure

Kennesaw Kid

Well-Known Member
Staff member
Super Moderator
Premium
I would not take for granted any story by a site that is owned by Dow Jones. Wall St. is the one that caused this mess in 2007-2008 with our Pensions. Go to the central States Forum on here if you want to get ALL of the stories by those who have been fighting to save of pensions for over 7 years now.
 

dokman

Well-Known Member
I would not take for granted any story by a site that is owned by Dow Jones. Wall St. is the one that caused this mess in 2007-2008 with our Pensions. Go to the central States Forum on here if you want to get ALL of the stories by those who have been fighting to save of pensions for over 7 years now.
Wow that is an interesting comment.
Wall Street was to blame for pension problems?
I respect your comments KK , you need to brush up on that one.
The pension is just short of a Ponzi scheme. Those paying in while working help pay for one’s retired. PERIOD…….
Plan should never have have been Defined Benefits but should have been Defined Contribution.
Always amazed that a dock guy working 40 to 50 hours a week on platform for 30 years will get same pension as line haul working 6 nights a week for 30 years.
Every payment should have been each individual not collective pool.
Some pension plans were devastated from loss of paying members in areas that were harder hit by loss of manufacturing jobs and industrial jobs which resulted in fewer need of drivers and consequently less contributions.Not to mention loss of Teamsters jobs as a whole.
If pension money would have been structured that each employee had x amount of dollars for each hour or mile put in his or her account then the less you work the less you get the more you work more you get.
The operator union has a plan that is just like that. I know ok guys making 4,400 to 4,500 after 30 years. Everyone is different because of hours worked.
Simple solution everyone should plan on their own financial situation at retirement and not plan on SS or pensions. We have been hogwashed with a carrot shoved up the hogs rear end and been given a side of bull crap too go with it, plain and simple.
 

Razorblade

Active Member
Wow that is an interesting comment.
Wall Street was to blame for pension problems?
I respect your comments KK , you need to brush up on that one.
The pension is just short of a Ponzi scheme. Those paying in while working help pay for one’s retired. PERIOD…….
Plan should never have have been Defined Benefits but should have been Defined Contribution.
Always amazed that a dock guy working 40 to 50 hours a week on platform for 30 years will get same pension as line haul working 6 nights a week for 30 years.
Every payment should have been each individual not collective pool.
Some pension plans were devastated from loss of paying members in areas that were harder hit by loss of manufacturing jobs and industrial jobs which resulted in fewer need of drivers and consequently less contributions.Not to mention loss of Teamsters jobs as a whole.
If pension money would have been structured that each employee had x amount of dollars for each hour or mile put in his or her account then the less you work the less you get the more you work more you get.
The operator union has a plan that is just like that. I know ok guys making 4,400 to 4,500 after 30 years. Everyone is different because of hours worked.
Simple solution everyone should plan on their own financial situation at retirement and not plan on SS or pensions. We have been hogwashed with a carrot shoved up the hogs rear end and been given a side of bull crap too go with it, plain and simple.
Collective pool indeed. Socialism at it's finest and that never works. Depending on a third party to fund your retirement years is never a good idea.
 

flat top

Active Member
I would not take for granted any story by a site that is owned by Dow Jones. Wall St. is the one that caused this mess in 2007-2008 with our Pensions. Go to the central States Forum on here if you want to get ALL of the stories by those who have been fighting to save of pensions for over 7 years now.
Not sure if you were able to read the article or not. When I first posted it was not blocked behind a pay wall. One of the commenters in the article was Russell Kamp who's thoughts on pension reform were often cited on many of the Facebook retiree committee pages. His viewpoint was that funding may just barely get the funds to 2051 and possibly be exhausted before that. I know that this is of little concern to many who are retired or those that are nearing retirement, but to my 30 year old coworker who asks if there will be anything for him ,it is very important.
 

Big block

Member
Not sure if you were able to read the article or not. When I first posted it was not blocked behind a pay wall. One of the commenters in the article was Russell Kamp who's thoughts on pension reform were often cited on many of the Facebook retiree committee pages. His viewpoint was that funding may just barely get the funds to 2051 and possibly be exhausted before that. I know that this is of little concern to many who are retired or those that are nearing retirement, but to my 30 year old coworker who asks if there will be anything for him ,it is very important.
tell him to get out of dodge! run,don't look back, young enough to find a better situation at 30 years old! all it is a good place to get experience and move on to greener pastures. holland was the creme de la creme at one time and now it's a **** show i was told from 2 current workers in the last week. if they don't show a profit soon and all the govt $$$ gone then what????
 

flat top

Active Member
tell him to get out of dodge! run,don't look back, young enough to find a better situation at 30 years old! all it is a good place to get experience and move on to greener pastures. holland was the creme de la creme at one time and now it's a **** show i was told from 2 current workers in the last week. if they don't show a profit soon and all the govt $$$ gone then what????
Oh , I agree this is not the place for a young guy.
 

ABF381

Well-Known Member
Staff member
Super Moderator
Premium
Collective pool indeed. Socialism at it's finest and that never works. Depending on a third party to fund your retirement years is never a good idea.
"Socialism at its finest, that never works." LMAO. That's funny...collecting your SOCIAL SECURITY, collecting your SOCIALIST PENSION, all the while saying you want MEDICARE FOR ALL...LMAO
 

the5tolls

Wait till 2024....we'll show em!
Oh , I agree this is not the place for a young guy.
I disagree, nothing is definite but I see many guys switch to these other awesome places to work and no one quits and their work force is much younger, so there a new guy sits at or near the bottom. At Yellow/Holland guys are retiring and quitting constantly and a young guy can be half way up the board in 5 to 10 years, maybe less, something to consider.
 

almost13ranch

Ambitiose sed ineptum
"Socialism at its finest, that never works." LMAO. That's funny...collecting your SOCIAL SECURITY, collecting your SOCIALIST PENSION, all the while saying you want MEDICARE FOR ALL...LMAO
Oh FFS, really? I paid for and or, someone paid for on my behalf, as part of my compensation, for all of those things my entire working life. No one is taking any anything from someone else to “give” anything to me. And have never advocated for “Medicare for all” either. SMH
 
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ABF381

Well-Known Member
Staff member
Super Moderator
Premium
Oh FFS, really? I paid for and or, someone paid for on my behalf as part of my compensation, for all of those things my entire working life. No one is taking any anything from someone else to “give” anything to me. And have never advocated for “Medicare for all” either. SMH
Sir I quoted Mr. Razorblade....I happen to agree with you....
 

ABF381

Well-Known Member
Staff member
Super Moderator
Premium
My apologies, I am following this thread, I don’t recall that he had posted it.
It was on another thread, and I believe on another forum a little while back. Roady, 381, and myself have been having this debate with Razorblade off and on for a few months now.
All is fine here.....Razorblade likes to talk about the evils of socialism while also boasting that he has collected 600k of pension money...he wants Medicare for All because he feels his wife pays too much for insurance...my opinion is he feels socialism is fine and dandy when it benefits him but it is evil when it benefits other taxpayers as it does with Butch Lewis...but hey it's a free country and everyone has an opinion...
 

ROADY

Well-Known Member
All is fine here.....Razorblade likes to talk about the evils of socialism while also boasting that he has collected 600k of pension money...he wants Medicare for All because he feels his wife pays too much for insurance...my opinion is he feels socialism is fine and dandy when it benefits him but it is evil when it benefits other taxpayers as it does with Butch Lewis...but hey it's a free country and everyone has an opinion...
The truth will set you free brother. :usa:
 
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