Pensions

There was an article on LiveTrucking that in letters to its members, Teamster pension in the state of NY will be reduced by 30% to 35,000 members.
They said it $1.7 billion in the fund, but has $3 billion due, now, in payments.
Said if they don't cut it back now, the whole fund will be gone in 2 years.

 

Union, or conglomerates such as ConAgra. I worked for JRRW out of North Liberty IA, we had 401k and the ConAgra pension. Basic vest was 5years, max was 20. More years of service equals a higher percentage of replacement salary etc.

 

Pensions are becoming obsolete.

You way better off planning on living on what you save and invest.

 

No disrespect but pensions are for the most part union, state, federal jobs. Yes in my opinion much better, 401 k has been said to be the poor man's retirement. Pensons becoming obsolete really.

 

Pretty much only the Union companies as it's been said, the plus is theirs no shortage of them unless your down south. Even with a pension you should have a Roth IRA that your putting money into and if it's an option also a 401k, preferable a Roth 401k if your company offers them. Don't allow a pension to become a mental safety not to not save on your own, that's begging for an issue later in life. I've very pro Union and would honestly target those companies first because pensions aside your not even coming close to beating their benefits mainly the health ins, but pensions require a lot of trust in the company and although their typically safe people have been screwed in the past and it's totally out of your hands if that happens.

 

Nick Strimbu Inc. and PI&I Motor Express are Teamsters and hire new cdl grads. As stated before, the Teamsters pension fund is pretty much bankrupt. They've hinted at a government bailout, but got the cold shoulder on that one. Thousands of company pensions funds are bankrupt and the government knows if they start another bailout like they did with the UAW, the floodgates will open.
Best bet is to contribute to a 401K or some other type of savings plan with a trucking company or credit union. Rental property is a smart move for future monthly income to supplement social security. That's what I did.
Where I made the most money on the 401K is every time the stock market would basically crash and stocks would tumble, I saw that as an opportunity to buy more stock at a cheaper price so I was able to maximize my contribution for more return.
I put most of my contribution in "Overseas Asian Funds" and did real well.
Other drivers where I worked would immediately cash out when the stock market plunged then by the time the market recovered they had spent the cash.

 

Pension ?! Roflmao .

Signed
Central States pension fund .

 

I wonder where all that money went? Surely didn't have anything to do with "retreats" in Las Vegas for the "leadership" of the unions or political contributions in the millions for Democrat politicians. The union leadership claims the rank & file dues paying members demanded they give away their pension fund money to Democrat politicians running for re-election. One clown rank & file member on the news this week said he has to vote for Hillary because his union told him to, so he has no other choice. I know all rank & file aren't that ignorant, but enough of them are to ruin it for everyone.