2015 Fleet Service thread

[Roadking5560]

  Dude, Seriously. I think your 401k could possibly say the same things the PBGC is saying in this report. It's not a perfect world. 
 
  It lies somewhere between the " High and the Low". 

Not necessarily true.  If you have your 401K money in the AAFCU it will be protected barring a failure of the US government.  I know the returns are lousy but putting both your money and that of the company match in it, it will add up. 

 

[AANOTOK]

Not necessarily true.  If you have your 401K money in the AAFCU it will be protected barring a failure of the US government.  I know the returns are lousy but putting both your money and that of the company match in it, it will add up. 

And be safe for those close to retirement as many of us are.

 

[700UW]

Not necessarily true.  If you have your 401K money in the AAFCU it will be protected barring a failure of the US government.  I know the returns are lousy but putting both your money and that of the company match in it, it will add up.

That is totally false, 401k is not protected nor insured, if it loses money, no one or no agency replaces the losses.

 

[Traymark]

That is totally false, 401k is not protected nor insured, if it loses money, no one or no agency replaces the losses.

And the exact same thing can be said for the IAMNPF, and worse, benefits can be cut AT ANY TIME, without any say so by those in it.

The difference between the two is simple and its huge...

CONTROL OF THE MONEY.

IAMNPF: controlled entirely by the hacks put in charge by the hacks
401k: controlled ENTIRELY by you and only you

This isn't even close

 

[700UW]

Multi-employer plans are insured by the PBGC.

 

[Traymark]

Multi-employer plans are insured by the PBGC.

And
Can also REDUCE benefits at ANY THEY DEEM NECESSARY
so where's the guarantee?

 

[700UW]

Who makes up the shortfall when your 401k takes losses?

And nothing in life is guaranteed, except death.

 

[WeAAsles]

Guys there is NO such beast as a completely secure financial retirement. Anything and everything can take a hit. Even if you socked all of your money under your mattress, out of control inflation or a house fire can wipe it out.

The best way to give you some security is to be diversified. Savings, Pension, 401, Social Security, Stocks, Bonds, Property, Health.

Mix in a little bit of everything and if one goes South you might be able to rely on other things to offset it?

 

[WeAAsles]

Who makes up the shortfall when your 401k takes losses?
And nothing in life is guaranteed, except death.

You're not allowed to die unless you pay for it. They charge for assisted suicide and sleeping pills are at least a $30.00 co-pay.

 

[bob@las-AA]

View attachment 11167
 
Look at this!! Santa's sack is so swollen with cash, it would be a shame he could only give us coal in our stockings. 
 
 
 
VOTE YES

 

[bob@las-AA]

Who makes up the shortfall when your 401k takes losses?

And nothing in life is guaranteed, except death.

And taxes.

 

[WeAAsles]

santassack.png
 
Look at this!! Santa's sack is so swollen with cash, it would be a shame he could only give us coal in our stockings. 
 
 
 
VOTE YES

If whatever we vote on results in any layoffs, moves or downgrades (including you) then your disgusting display of greed may come back and bite you in the face.

I have 20 years in one of the lowest seniority hubs. I won't probably be touched. You on the other hand have a hell of a lot of risk.

 

[Traymark]

Who makes up the shortfall when your 401k takes losses?
And nothing in life is guaranteed, except death.

You are quite entertaining.
You act as though the IAMNPF is totally insulated to market downturns.

On the contrary, they are just as exposed.
All of their funds are investedin the market just like a 401

Again , the difference is, they will just reduce benefits to whatever level necessary so you can continue get on here and say how it's "fully funded".

The other big difference is we control our own money in a 401.
We decide how much to invest in what funds to invest in.
We can roll it over into another 401 if retire and decide to work elsewhere.

This is not even a close call, but keep bringing all the flawed reasons so even more members can get educated on the failings of a multi employer pension fund

 

[Traymark]

Guys there is NO such beast as a completely secure financial retirement. Anything and everything can take a hit. Even if you socked all of your money under your mattress, out of control inflation or a house fire can wipe it out.
The best way to give you some security is to be diversified. Savings, Pension, 401, Social Security, Stocks, Bonds, Property, Health.
Mix in a little bit of everything and if one goes South you might be able to rely on other things to offset it?

Thanks for the advice, but I already have all of those vehicles working for me.

I would much prefer NOT to be forced into investing in a failed multi employer pension fund that gives me Zero control over my money.

 

[cltrat]

If whatever we vote on results in any layoffs, moves or downgrades (including you) then your disgusting display of greed may come back and bite you in the face.

I have 20 years in one of the lowest seniority hubs. I won't probably be touched. You on the other hand have a hell of a lot of risk.

he'd vote yes if it meant he was laid off the next week.  pathetic really