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$14,000 Per Month Pension for Blue Collar Worker?

 
Old 05-15-2019, 01:56 PM
  #81  
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Originally Posted by slewfoot1956 View Post
Result of your buddy Making America Great Again.
So you are completely stupid then?
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Old 05-15-2019, 01:59 PM
  #82  
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Originally Posted by ZL1Vette;1599401827[b
]I feel for those guys[/b]. They got sold out by their Union buddies who were looking out for the "common man" and the Democratic Party as opposed to the Big Bad Republican Party looking out for Wall Street.

They would have been better off with their pension $$$ invested 100% with Wall Street.
I don't feel bad for them. They all know they have been stealing all along. The chickens will just start coming home to roost pretty soon.
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Old 05-15-2019, 02:58 PM
  #83  
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Originally Posted by Gunsmith View Post
I don't feel bad for them. They all know they have been stealing all along. The chickens will just start coming home to roost pretty soon.
They don't.....they don't understand this stuff....it's too complex for the layman.

My father is a pretty smart guy......college degree + Masters at a time when most people stopped at high school diploma....HE wouldn't understand his pension status if not for the fact that his son is a Chartered Financial Analyst (CFA). As it turns out, he hasn't had anything to worry about to date and at age 83 with a $200 billion market cap company backstopping his pension plan (75% funded according to their last 5500), I doubt he will.

But others aren't as fortunate. Truck drivers aren't super-smart financially for the most part (unless they listen to financial shows and/or Rush and Sean ) but they stand to be decimated because of the corruption of their unions.
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Old 05-16-2019, 07:38 AM
  #84  
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Originally Posted by ZL1Vette View Post
They don't.....they don't understand this stuff....it's too complex for the layman.

My father is a pretty smart guy......college degree + Masters at a time when most people stopped at high school diploma....HE wouldn't understand his pension status if not for the fact that his son is a Chartered Financial Analyst (CFA). As it turns out, he hasn't had anything to worry about to date and at age 83 with a $200 billion market cap company backstopping his pension plan (75% funded according to their last 5500), I doubt he will.

But others aren't as fortunate. Truck drivers aren't super-smart financially for the most part (unless they listen to financial shows and/or Rush and Sean ) but they stand to be decimated because of the corruption of their unions.
I'm not talking about understanding the finance side I am talking about how most of the government workers in question knowingly cheat the system. Put in for bogus overtime, don't show up for work but still put in for hours etc. Most of them don't even think they are stealing they just think that's how things are done and it's not hurting anyone.
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Old 05-16-2019, 02:29 PM
  #85  
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Originally Posted by Gunsmith View Post
I'm not talking about understanding the finance side I am talking about how most of the government workers in question knowingly cheat the system. Put in for bogus overtime, don't show up for work but still put in for hours etc. Most of them don't even think they are stealing they just think that's how things are done and it's not hurting anyone.
Sadly, alot of those policies are LEGAL and collectively bargained....blame the unions and the system and the pols (mostly Dems, but some GOPers).
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Old 05-16-2019, 07:41 PM
  #86  
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Originally Posted by Gunsmith View Post
I'm not talking about understanding the finance side I am talking about how most of the government workers in question knowingly cheat the system. Put in for bogus overtime, don't show up for work but still put in for hours etc. Most of them don't even think they are stealing they just think that's how things are done and it's not hurting anyone.
as if nothing like this ever goes on in the corporate world, right . . .
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Old 05-16-2019, 09:58 PM
  #87  
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Originally Posted by BadUmp View Post
as if nothing like this ever goes on in the corporate world, right . . .
The corporate world had to deal with THE MARKET which enforces DISCIPLINE.

You are also accountable to the STOCKHOLDERS.

Sure there are excesses in the corporate world, but they pale in comparison to a government monopoly with unlimited taxing power at its disposal.
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Old 05-17-2019, 11:34 AM
  #88  
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Originally Posted by BadUmp View Post
as if nothing like this ever goes on in the corporate world, right . . .
I think you missed something. If you cheat your corporation into bankruptcy and the corporation can not pay it's bills and fund it's retirement plans the rest of the people not in that corporation are not supposed to pay for it. You just stop getting money from that corporation. Get it? Of course if that corporation has political friends we the people may be forced to bail them out but we should not be forced to do that.
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Old 05-17-2019, 11:41 AM
  #89  
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Originally Posted by Gunsmith View Post
I think you missed something. If you cheat your corporation into bankruptcy and the corporation can not pay it's bills and fund it's retirement plans the rest of the people not in that corporation are not supposed to pay for it. You just stop getting money from that corporation. Get it? Of course if that corporation has political friends we the people may be forced to bail them out but we should not be forced to do that.
I guess you've never heard of any of theses companies on the list in this link; but, I guess you're right . . .

https://projects.propublica.org/bailout/list
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Old 05-17-2019, 01:18 PM
  #90  
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Originally Posted by Gunsmith View Post
I think you missed something. If you cheat your corporation into bankruptcy and the corporation can not pay it's bills and fund it's retirement plans the rest of the people not in that corporation are not supposed to pay for it. You just stop getting money from that corporation. Get it? Of course if that corporation has political friends we the people may be forced to bail them out but we should not be forced to do that.
Not only that, the employees (laid off/fired) and shareholders/owners (wiped out; equity goes to zero) are the ones who lose.

There are no bailouts on Wall Street.
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Old 05-17-2019, 01:27 PM
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Originally Posted by BadUmp View Post
I guess you've never heard of any of theses companies on the list in this link; but, I guess you're right . . .
https://projects.propublica.org/bailout/list
I see RED only for a few lines...it seems the government made money on most of the Big Money Center banks and only lost $$$ with community banks and...wait for it....the UAW-dominated auto companies.

As I have said many times, you folks can NOT believe the left-wing fake-news media on anything financial. They lie through their teeth and lack financial evaluation skills.
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Old 05-17-2019, 01:37 PM
  #92  
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Originally Posted by Tennis & Golf Nut View Post
NY is a joke.

This Transit Authority worker claims to work 10 hours Per Day OVERTIME 365 days per year, on top of his 8 hour day. 18.5 hours including lunch.

Yet, his neighbors say he works on his own house daily doing all types of home improvements.

He made $461,646 last year.

$344,147 was Overtime.

He will retire with a $14,000 per month pension, plus benefits and Social Security.

Why do Officials let someone get away with this?

https://nypost.com/2019/04/27/neighb...icey-upgrades/
imo if it was upper management/administration you wouldn't be so upset
"Why do Officials let someone get away with thin?"-just a guess but they probably have an even more lucrative situation:

imo looks like a "little guy" ca$hed in by just playing by the rules.
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Old 05-17-2019, 04:16 PM
  #93  
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Originally Posted by TBIRD57 View Post
imo if it was upper management/administration you wouldn't be so upset
"Why do Officials let someone get away with thin?"-just a guess but they probably have an even more lucrative situation:
imo looks like a "little guy" ca$hed in by just playing by the rules.
Not at all.

This is a case where the experts and manipulators are on the organized labor side and they are going up against housewives and bricklayers who are totally outgunned.
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Old 05-17-2019, 05:00 PM
  #94  
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Originally Posted by ZL1Vette View Post
Not at all.

This is a case where the experts and manipulators are on the organized labor side and they are going up against housewives and bricklayers who are totally outgunned.
sure they are, I never entered a negotiation session where at least one attorney and many well educated managers were actively engaged in the process. Pure jealousy and envy are the whole underlying issues here . . .
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Old 05-17-2019, 08:46 PM
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Originally Posted by BadUmp View Post
sure they are, I never entered a negotiation session where at least one attorney and many well educated managers were actively engaged in the process. Pure jealousy and envy are the whole underlying issues here . . .
The politicians need actuaries and pension experts. Even my financial expertise is lacking in the nuances of pension accounting (though I am sure I could see any problem leading to sustained sub-90% funding).

Last edited by ZL1Vette; 05-17-2019 at 08:47 PM.
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Old 05-17-2019, 08:56 PM
  #96  
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Originally Posted by ZL1Vette View Post
The politicians need actuaries and pension experts. Even my financial expertise is lacking in the nuances of pension accounting (though I am sure I could see any problem leading to sustained sub-90% funding).
So, you saying that all these smart leaders and managers got out foxed by their subordinates. What a bunch of flunkies ...
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Old 05-17-2019, 09:48 PM
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Originally Posted by BadUmp View Post
So, you saying that all these smart leaders and managers got out foxed by their subordinates. What a bunch of flunkies ...
No, not their subs...the negotioating counterparties.
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Old 05-17-2019, 10:15 PM
  #98  
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Originally Posted by ZL1Vette View Post
No, not their subs...the negotioating counterparties.
Which, in many cases are mere subordinates who are acting as their own negotiators ...
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