Any idea on when the new class date will be set for? How many?
Thanks

 

How about one more voice in this retirement debate. IMHO I would rather have double digit deposit into my 401K every two weeks as long as it isn't a match. Let me put it in the funds or brokerage of my choice and let it ride. It takes sacrifice on your part to fully fund said 401K, but its portability really appeals to me.

As for pensions, I get that they aren't all created equal and I don't want to debate specific plans and whether its solvent or not. This is what I don't like about them... If the power brokers in DC are willing to reduce the earned retirements of military vets for short term budgetary gains as they were last year, and then only yielded after significant lobbying efforts... who's to say they wouldn't be willing to slip something into a bill to "help" those organizations who manage other pensions... even union pensions. Call me cynical, but if I can't trust Uncle Sugar to live up to his blood debt to vets, why should I trust any union or company CEO to honor their commitments when times get tough and they need to balance their books?

Just my 2¢

 

Interviewed on Oct 7th, tossed into the pool on the 16th and got the call this morning for a Jan 5th class date on the 767.

Thanks to all that took the time to submit info here. Best thread ever!

See some of ya online.

 

Do you get the part that the Teamsters DON'T have pension plans that they run? To do what you envision would require it being done to ALL pension plans and require a re-write ERISA rules? For a pension plan where a fund gets the money directly from the company...plus and additional voluntary employee contribution above the agreed to amount...how would the government interject themself?

 

Congrats, Turbo! Jumped into the pool yesterday, hoping for a short swim. Hope to see you in Miami!

 

I bet these guys wish they would have gone with a 401K match!

Fears Over Pension Funding - WSJ

 

the gov't has got your back

Congress eyes move to cut pension benefits

 

Dude, congrats...I interviewed around the same time, but am still in the pool as I write this.

All: is there any SA as to whether that's it for Jan?

 

That's great... I want the Teamsters to have nothing to do with my retirement. Period. Their job is to negotiate what I get. Give me American Airlines's retirement plan. If we get any form of a pension or anything that is in any way attached to the Teamsters then I'll have to change jobs so that I can get a retirement.

I'm the son of a financial planner so I do know a little bit about it. My other parent was an airline pilot so I'm fully aware of what allowing others to "manage" your retirement leads to.

Your understanding of how a retirement (401K, Roth IRA, and emergency fund) should be managed lacks basic understanding of how it should work. When you're young (like me) the bulk of your money should be invested into equities like mutual funds which may do bad the next year but perform at around 12% over the course of time. As you get older you shift your money to lower risk investments such as bonds that don't crash with the market. If you really lost every thing in the Great Recession then you lost it because you weren't responsible enough to read a book on how to manage your retirement. If you were in your mid to late 50s you should've been almost exclusively in stuff like Bonds which wouldn't have hit you.

Please don't take my advice. Read a book. Talk to an expert. It's important enough to read given that people are naive enough to think that their best option is to let the Teamsters manage their retirement. Letting others manage your retirement will result in them robbing you blind just like what's happened everywhere else recently.

 

+1... What could possibly go wrong with a pension?