Nys teamsters pension & retirement fund

[BigUnionGuy]

10 years in and I'd still give up all of my accrued pension for that money to go into my 401k.

Now that.... raises a few more questions.

Part-time ?

Full-time ?

Combination of both ?

Off the street hire?


I'm not trying to bust your chops. I really want to know.

It makes a difference.



-Bug-

 

[Future]

The bottom line is the union doesn't want to give up control of the money. Using the excuse people can't be trusted with their own money.

Hollow argument with how the pension funds have been managed.

They clearly managed ...our pension money well ...at one time .... then the bottom ...fell out

 

[1989]

You have yet to make any points as to why 401k are so terrible.

I am no longer a fan of buying paper assets. But mainly because of the strict loan rules. I should be able to tap my funds anytime I want.

 

[Brownslave688]

I am no longer a fan of buying paper assets. But mainly because of the strict loan rules. I should be able to tap my funds anytime I want.

It's a retirement account.


Thank god they don't allow people to tap into it at any time.



That's like saying you should have access to your pension money at any point.

 

[Future]

I am no longer a fan of buying paper assets. But mainly because of the strict loan rules. I should be able to tap my funds anytime I want.

I like tapping @MyTripisCut s ...sister from time too time ....just saying

 

[Brownslave688]

Now that.... raises a few more questions.

Part-time ?

Full-time ?

Combination of both ?

Off the street hire?


I'm not trying to bust your chops. I really want to know.

It makes a difference.



-Bug-

11+ years full time.

Had a couple years part time. But not enough to be worth anything.

 

[Future]

It's a retirement account.


Thank god they don't allow people to tap into it at any time.



That's like saying you should have access to your pension money at any point.

With a penalty ...that goes back too you ....I see nothing wrong

 

[Brownslave688]

They clearly managed ...our pension money well ...at one time .... then the bottom ...fell out

Was it managed correctly or did they just have a ton more workers putting money in than they had retirees?

 

[Future]

Was it managed correctly or did they just have a ton more workers putting money in than they had retirees?

Invested well .... also more workers putting in as well ......it was a good show ...

 

[1989]

It's a retirement account.


Thank god they don't allow people to tap into it at any time.



That's like saying you should have access to your pension money at any point.

Loan...I could have used 30k two weeks ago to buy a property. But they only allow hardship loans. What if my sewer line breaks from the main line to the hose? All the what ifs.

 

[Future]

Was it managed correctly or did they just have a ton more workers putting money in than they had retirees?

P.S. .....don't be working my boy into the ground !LOL

 

[1989]

11+ years full time.

Had a couple years part time. But not enough to be worth anything.

That's about 23k a year in the Western conference.

 

[Brownslave688]

Loan...I could have used 30k two weeks ago to buy a property. But they only allow hardship loans. What if my sewer line breaks from the main line to the hose? All the what ifs.

That's what savings account are for or individual investment accounts. Not retirement accounts.


I'm planning on getting around 100k from logging my property in the next month. The original plan was to buy a 12 unit apartment complex. Now I'm
Not so sure because i would like to keep the money more liquid than that.

The point is I'm not going to throw it into a retirement account then bitch that I can't access it.

 

[Brownslave688]

That's about 23k a year in the Western conference.

The western conference is certainly unique.

Might be 15k a year here. Tops.

 

[1989]

That's what savings account are for or individual investment accounts. Not retirement accounts.


I'm planning on getting around 100k from logging my property in the next month. The original plan was to buy a 12 unit apartment complex. Now I'm
Not so sure because i would like to keep the money more liquid than that.

The point is I'm not going to throw it into a retirement account then bitch that I can't access it.

At one time I thought all retirement accounts had basically the same rules. Had I known that they don't 20 years ago, I would have never thouched our 401k. I would be better off if I didn't have 200k sitting in the 401k is my point.

 

[rod]

Here we go again....

Largest Pension Fund in the country.



-Bug-

When the dust settles in a few years there won't be a livable Teamster pension left---if any pensions at all. To those few who brag about theirs still being in good shap beware-----others that aren't will be coming after yours .Mean while I'm sure all the top Teamster officials will be living like kings until the final days of the Teamster Union have come---and it will come.

 

[Brownslave688]

At one time I thought all retirement accounts had basically the same rules. Had I known that they don't 20 years ago, I would have never thouched our 401k. I would be better off if I didn't have 200k sitting in the 401k is my point.

You'd have more access to funds to either be better or worse off with.


You're also completely ignoring the tax advantages to a 401k.

 

[Brownslave688]

When the dust settles in a few years there won't be a livable Teamster pension left---if any pensions at all. To those few who brag about theirs still being in good shap beware-----others that aren't will be coming after yours .Mean while I'm sure all the top Teamster officials will be living like kings until the final days of the Teamster Union have come---and it will come.

Telling you they know best the whole time.

 

[rickyb]

max keiser on pensions!!!!

 

[1989]

You'd have more access to funds to either be better or worse off with.


You're also completely ignoring the tax advantages to a 401k.

In this case I have the advantage on hindsight. I would have been better off.

What are the advantages? Fees, only allowing hardship loans? Can only buy a piece of paper.

You haven't mentioned the advantages.