IAM Pension Fund

737823 said:
Way to aim low. This shouldn't come as surprise since you were part of the workgroup that was content accepting sub industry standard wages for so many years while your employer took in record profits. Seriously where do you come up with these numbers? How could someone retire and live comfortably with $250k, social security and the IAMNPF?

Josh
Thanks for making my POINT! The reality is... very few Fleet service Members have the 250k saved... period. Many actually raided their 401ks during the BK years when they were forced to take concessions by the BK judge. The reality is, the IAMNPF is their best, and possibly ONLY hope of securing a decent retirement.
 
As far as the numbers go... you’re the banker... present a counter argument that proves me wrong with numbers and references of your own!
 
P.S. Are you falling for that Bluto character again, and answering to "DOOSH"?
 
700UW said:
Two bankruptcies in less than two years is not record profits.
Last bankruptcy was 2005 and this is the position you are in nine years later, after one section six and a transition agreement? I mean seriously the IAM has failed the membership and conditioned them to accept substandard wages and benefits. Again how do you expect someone to retire comfortably with IAMNPF, social security and a $250k 401K. Is that what unions are proud of?

Josh
 
roabilly said:
Thanks for making my POINT! The reality is... very few Fleet service Members have the 250k saved... period. Many actually raided their 401ks during the BK years when they were forced to take concessions by the BK judge. The reality is, the IAMNPF is their best, and possibly ONLY hope of securing a decent retirement.
 
As far as the numbers go... you’re the banker... present a counter argument that proves me wrong with numbers and references of your own!
Unfortunate that sucks for you guys. Since I entered the workforce I've been saving in excess of 25% of my base in my 401K, not planning on collecting any social security whatsoever. Every individual is different and there isn't a one size fits all approach but my guidance would be saving and investing considerably more than $250k.

Josh
 
I cld have sworn he was dave before.. but then again we all are dave   or is that bluto we all are????    but then again to think of it  most of us most likely will never see the kind of 401Ks that say the JP type bankers or other bankers have....   of course how many of that came from the homes in which they forced out people from bec of the fraudulent mortgages etc
 
737823 said:
Unfortunate that sucks for you guys. Since I entered the workforce I've been saving in excess of 25% of my base in my 401K, not planning on collecting any social security whatsoever. Every individual is different and there isn't a one size fits all approach but my guidance would be saving and investing considerably more than $250k.

Josh
No... your “guidance” is to steer Fleet Service astray, and to weaken the group. You are a fraud... period! Every single poster that is actually a Fleet Service Member knows this... why waste your time? Could it be “the” grudge?
 
At any rate, the IAMNPF will not be able to provide a comfortable and secure retirement for IAM members. As union members why don't you demand the same pensions that Buffy, Sito, Roach, etc enjoy from the Grand Lodge?

Josh
 
737823 said:
At any rate, the IAMNPF will not be able to provide a comfortable and secure retirement for IAM members. As union members why don't you demand the same pensions that Buffy, Sito, Roach, etc enjoy from the Grand Lodge?

Josh
You just gave your identity away AGAIN... you are one pathetic excuse for a man!
 
P.S. Are you saying that $3,000.00 per month, is not a good pension benefit?
 
If I was ever offered and or considered becoming a part of the IAMPF I would have multiple questions I would want answered first before I made my decision.

What is the average age of those participating and how many are currently in the fund?

Has participation in the fund been on the rise or has it been declining?

What companies currently participate in the fund and what are their long term growth prospects? Are those companies currently hiring and are those lower age people who will be participating in the fund?

How many of those currently participating in the fund live in right to work states so I don't have to worry about people bailing on the fund in the future?

What investments does the fund currently participate in so I can understand what risks the fund is willing to place itself in?

Are people involved in the fund in jobs where the mortality rate is low? (Understanding of course the morbidity of the question)

All questions designed so I can understand the risks before I make my decision for my retirement security.
 
Hey WeAA..
 
Start here... you may have to navigate around the site some, but most of your questions can be answered here. If not the phone number is on the site...
 
IAMNPF
 
P.S. There are currently around 100,000 Members...
 
roabilly said:
Hey WeAA..
 
Start here... you may have to navigate around the site some, but most of your questions can be answered here. If not the phone number is on the site...
 
IAMNPF
I have done some research Roa but I'm going to hold off on the serious digging for now until I get a hint that we may be offered participation in the fund? My agenda being firmly "choice" from my end though.

I have no problem contributing in the fund to keep those higher up the pyramid secure IF I am beyond reasonably sure that my place in that pyramid is also fairly solid?
 
And in the meantime I place 20% into my 401k and that will go up to 25% by 2017 for my last 10 anticipated working years.
 
roabilly said:
You just gave your identity away AGAIN... you are one pathetic excuse for a man!
 
P.S. Are you saying that $3,000.00 per month, is not a good pension benefit?
$3k/month is a joke. How can anyone even in Charlotte live off that? Even public sector employees have more generous pensions that you conisder $3k/month good speaks more about you and your perspective than me.

Gave away my identity? You seriously think I am Tim because I included "at any rate" in my post? Wow.

Josh
 
roabilly said:
You just gave your identity away AGAIN... you are one pathetic excuse for a man!
 
P.S. Are you saying that $3,000.00 per month, is not a good pension benefit?
Roa who is getting $3,000.00 per month? Is this a pension equation or a mix of other retirement income?
 

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