canaryinthemine
Retirement....The Job I Was Born To Have!
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We tend to forget that when we "compare" wages with our non-Union competitors, we don't include the weekly pension payments made on our behalf, and the fact that our health care doesn't cost us anything out-of-pocket just to maintain it. I believe Conway employees pay 5% of their yearly gross toward health care. Conway gets a 5% discount per employee on group health. Not sure how their pension is managed, they don't seem too proud (or confident...) of it. I've yet to find a Conway driver...or, for that matter, any non-Union driver....that knows what a Form 5500 is. Misinformation seems to be rampant about the one thing...especially as you get older....that you should absolutely know in and out. A Defined-Benefit pension is the best pension...employers know this, and want to ruin them for two reasons. The first is the large blocks of stock investments that are nominally under Union Trustees control......Wall Street HATES that, read their editorials about how Unions shouldn't do "social engineering" with stock they own. The second reason is that if they can push, or delay the retirement age longer, they don't have to worry so much about losing experienced workers and training new workers...or hiring them. Win-win for Wall Street. You keep your tiny, little pile of a 401(k) in there longer.........Or perhaps you die, and instead of you spending it on end-of-life care, your survivors re-invest it. I believe the business community, the Chamber of Commerce, and the Federal Reserve are all in cahoots....as it were...to end Defined-Benefit plans, and push us all to that form of legalized gambling known as Stock-Market investing, where you try to out-wit Wall Street bankers by "adjusting" your 401(k) "investments". That truly is a suckers' game, especially if you're betting your retirement.