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Discussion in 'LTL and Local Delivery Trucking Forum' started by HoustonTrucker, Apr 22, 2018.

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  1. Apr 22, 2018 #1
    HoustonTrucker

    HoustonTrucker Light Load Member

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    1 million Americans are counting on Congress to save their pensions

    I'm not trying to start a big war on here, but this should be a legitimate concern for everyone out there. We all would like to have a decent retirement. I'd hate to spend 30-40 years working somewhere only to find out my pension is no longer available.

    401k seems to be cast in a negative light in comparison to pensions around here.. At least with a 401k I have more control over my own retirment. Yes the market goes up and down, but over a longer timeline it always goes up, as history has shown.

    Pensions have many issues. Funding cuts, poor managment, more money going out than coming in.

    If I were looking at a company that only offered a pension, I'd think twice before signing up.
     
    Last edited: Apr 22, 2018
    HoustonTrucker, Apr 22, 2018
    HoustonTrucker, Apr 22, 2018
    #1
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  3. Apr 22, 2018 #2
    Texas_hwy_287

    Texas_hwy_287 Road Train Member

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    Heck look at what happened to the fire fighters in Dallas their pension is a stake. Poor management and the city cannot longer promise them a secure pension. While the folks making decisions have a secure future.
     
    Texas_hwy_287, Apr 22, 2018
    Texas_hwy_287, Apr 22, 2018
    #2
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  4. Apr 22, 2018 #3
    Txdriver77

    Txdriver77 Medium Load Member

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    down here in San Antonio the fire fighters are trying to renegotiate their contracts for a pay increase. meanwhile the city manager is making almost a million a year. there was a petition to have her salary reduced so the money could be used elsewhere. something like 250,000 signatures were collected and verified.
     
    Txdriver77, Apr 22, 2018
    Txdriver77, Apr 22, 2018
    #3
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  5. Apr 22, 2018 #4
    haz-matguru

    haz-matguru Road Train Member

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    I wonder how those YRC pensions are looking
     
    haz-matguru, Apr 22, 2018
    haz-matguru, Apr 22, 2018
    #4
  7. Apr 22, 2018 #5
    FLHT

    FLHT Road Train Member

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    Western States Fund is working just fine.
     
    FLHT, Apr 22, 2018
    FLHT, Apr 22, 2018
    #5
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  8. Apr 22, 2018 #6
    sdaniel

    sdaniel Road Train Member

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    Pelham N.C.
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    ???
     
    sdaniel, Apr 22, 2018
    sdaniel, Apr 22, 2018
    #6
  9. Apr 22, 2018 #7
    Bob Dobalina

    Bob Dobalina Road Train Member

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    From what I understand, it's the Central States Pension fund that's in trouble. A few years ago I read on a union grocery warehouse bulletin board a memo from them that said they are paying out around $3.80 for every dollar they were taking in. A lot of people are going to get screwed over that.
     
    Bob Dobalina, Apr 22, 2018
    Bob Dobalina, Apr 22, 2018
    #7
  10. Apr 22, 2018 #8
    LoneCowboy

    LoneCowboy Road Train Member

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    Anyone who believes their pension is going to be there (private or government) is DREAMING

    The math doesn't work.

    Make your own way.
     
    LoneCowboy, Apr 22, 2018
    LoneCowboy, Apr 22, 2018
    #8
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  11. Apr 22, 2018 #9
    De Trucker

    De Trucker Medium Load Member

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    Not all pension funds are in trouble.
    Central states on other hand is in trouble. More and more companies are pulling out it.
    Central states is not the only teamsters pension fund which a lot of people on here seem to think.
     
    Last edited by a moderator: Apr 22, 2018
    De Trucker, Apr 22, 2018
    De Trucker, Apr 22, 2018
    #9
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  12. Apr 22, 2018 #10
    HoustonTrucker

    HoustonTrucker Light Load Member

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    Mar 22, 2015
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    Just for me, in my own opinion for my life, I dont think its at all wise to cede all control of your retirement into someone elses hands. With a 401k or IRA, you have much more control. You decide what fund or funds your money goes into. The more you put in, generally speaking, the more you'll get back. You dont have to worry about someone else funding it for you, or not funding it and having it dry up before you ever make it to retirement. Nothing is full proof in life, every retirement plan has a degree of risk attached to it, in my opinion, pensions, especially these days, are the riskiest of them all.
     
    HoustonTrucker, Apr 22, 2018
    HoustonTrucker, Apr 22, 2018
    #10
    speedyk and De Trucker Thank this.
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