It's not
If your contribution continues to go into a pension fund that's not going to be there when you leave in 10 years you get nothing, if you're allowed to take that contribution and put in a 401(k) and you match it you get a little something.
Put every spare penny, plus a dollar into the 401k. You’ll retire comfortably. ($100/week)
30 years to go, so the contribution being made on YOUR behalf is $125.00 a week multiplied by the 30 years you still have to go equals $195,000.00 by itself you match it $390,000.00 without interest and investment growth. If the Union would agree to your money going into a 401k you’ll be 68 years old walking out the door
Union needs the money to pay the pensions and health care of its Officers and Business Agents members can't have any of it no pension cut for them shame on all of them for negotiating this crap contracts.
sounds great on paper but this industry wreaks havoc on a persons health no matter how much you exercise eat right run jump yada yada its a tough job try and come up with something a person can bail out early with before this grinds ya down
yeah seriously i gave up roller blading at the layover motels when i hit 60 seems like thats when i started falling apart and feelin like an old fartI dunno. Started in household in 76, switched to freight in 97. Gave up red meat in 82. Chicken, fish, fresh veggies and salad at least 6 times a week. No fast food, except an occasional burrito.
Just quit playing hockey, because once a week beer league with the kids became risky. I’ll start skating again the day I retire and do rings around those pesky little wanna be’s.
P.S. dont let me tell you what happened when i hit a pothole in the kmart parking lot in Rockford ... EEEEoowee ouch!I dunno. Started in household in 76, switched to freight in 97. Gave up red meat in 82. Chicken, fish, fresh veggies and salad at least 6 times a week. No fast food, except an occasional burrito.
Just quit playing hockey, because once a week beer league with the kids became risky. I’ll start skating again the day I retire and do rings around those pesky little wanna be’s.
Isn’t this an older article?Looks like trying to keep anyone else getting cut.
Senators Robert Portman (R-OH) and Sherrod Brown (D-OH) reintroduce the Pension Accountability Act: The Multiemployer Pension Reform Act (MPRA) allows certain deeply underfunded multiemployer plans to apply to the Treasury Department to cut benefits. If the agency approves the cuts, then workers and retirees are given a vote to approve or deny the cuts. However, the way the law is written, the voting process is completely unfair allowing for those who didn’t bother to cast a ballot to be counted as “yes” votes, leading to thousands of people having their pensions slashed. The Pension Accountability Act (S.833) would amend the voting procedures under MPRA to count only returned ballots, ensuring that workers’ and retirees’ voices are truly heard. The Pension Rights Center is quoted in Senator Portman’s press releaseapplauding him ”for introducing this commonsense technical fix to the unfair and undemocratic voting process in MPRA
Teamsters offer a 401k. Of course you would be the sole contributorMy contribution should not forced to go into the pension fund for a pension I will never see it'swe should have option for it to go into a IRA or 401k just pay full rate so I can save more on my own!
Click on Portman’s press release. It’s current.
