Quote Tim Nelson: "As far as the young members. You must remember, that many quit before the 5 year mark. The IAMPF doesn't give them any realized credit for that if they don't participate for 5 years. In this age of migrant and transient workers, young people staying at a job for 5 years is becoming uncommon. Sorta like the IAM robbing them, wouldn't you say? "
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Nelson… WTF? What part of-- “Younger members tend to not participate in 401k’s don’t you understand?” It’s absolutely ludicrous that you would even suggest that "many members quit" before five years of service! The only one’s I’m aware of that “quit” that soon were fired! Further, it’s pretty damn hard for someone to take a 401k with then to another job if they don’t even contribute to one to begin with!
I guess now... you are saying Fleet Service is not career… hmmm… I heard that somewhere else… DP in fact-- Some Union Man you are!
As far as my bias, I have a substantial 401k… I achieved this with the advice of a great Financial Advisor over the course of several decades. Actually, I invested in equities outside of the retirement plan as well, which have performed incredibly well—So… NO… I’m not biased toward any pension over any 401k plan because of my personal situation!
What I post about the 401k sham perpetuated onto the Average American Worker in this country is acknowledged fact!
