Bring back pensions

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02-22-2023 | 05:49 AM

overqualified52

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Bring back pensions

Any thoughts or ideas on ever getting pensions back and what would be a good pension plan ? Does anyone remember what some of the pension plans were back in the day ?

02-22-2023 | 05:57 AM

ApachePhil

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Quote:

Originally Posted by overqualified52

Any thoughts or ideas on ever getting pensions back and what would be a good pension plan ? Does anyone remember what some of the pension plans were back in the day ?

Question... Would you be willing to give up your 16-18% DC for a pension? It is taking 3 years to get to 18%...so, no way the company would give us both! If yes, and after the company takes the pension away again (they will thru the court, just like last time) would you regret not having had the 16-18% contribution for all that time the company was "promising you a pension later?"

The union and pilot group agreed to giving the pensions away before...they'll do it again.

02-22-2023 | 06:05 AM

m3113n1a1

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I want 0 part in any pension. Someone else managing "my" money to hopefully have enough to pay me a fixed amount when I turn a certain age sounds like such an absolute scam.

02-22-2023 | 06:08 AM

Cruz5350

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Quote:

Originally Posted by m3113n1a1

I want 0 part in any pension. Someone else managing "my" money to hopefully have enough to pay me a fixed amount when I turn a certain age sounds like such an absolute scam.

One could make an argument that the stock market is a scam as well, food for thought.

02-22-2023 | 06:10 AM

Excargodog

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Quote:

Originally Posted by overqualified52

Any thoughts or ideas on ever getting pensions back and what would be a good pension plan ? Does anyone remember what some of the pension plans were back in the day ?

Pensions can go away in bankruptcy, that’s certainly been demonstrated in the airline business, and default to the Pension Benefit Guaranty minimum.

https://www.dailypress.com/news/dp-xpm-20050130-2005-01-30-0501300273-story.html

https://www.thestreet.com/investing/stocks/us-airways-pilots-still-fight-for-pension-payouts-11-years-after-bankruptcy-case-12703297

https://www.nbcnews.com/id/wbna8196565

https://www.aviationpros.com/home/ne...exdelta-pilots

Yeah, it’s possible imprudent people will blow through their 401Ks too - or make asinine investments that lose money - I’ve seen it happen, but at least that’s on them. They aren’t losing their life savings because the company is too big to be allowed to fail.

02-22-2023 | 06:11 AM

CBreezy

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Quote:

Originally Posted by Cruz5350

One could make an argument that the stock market is a scam as well, food for thought.

Then put your contributions in cash if you don't trust the stock market. It's no less secure than a pension

02-22-2023 | 06:14 AM

m3113n1a1

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Quote:

Originally Posted by Cruz5350

One could make an argument that the stock market is a scam as well, food for thought.

What's the argument?

You don't have to invest your 401k in stocks.

By the way, what do you think pension funds invest "your" money in?

02-22-2023 | 06:17 AM

Hotel Kilo

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yeah, no.

filler

02-22-2023 | 06:17 AM

tcco94

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From: LAX ER

Quote:

Originally Posted by Cruz5350

One could make an argument that the stock market is a scam as well, food for thought.

Sure it is but it’s ran by the elitist and most rich people in this world. Are we to assume all the filthy rich people in this world are going to tank their net worth? And for what? The common man and poor don’t even invest money or save for retirement. Many wait until 10-20 years left. So saying Wall St is a scam in this context comparison is like planning your basement for the apocalypse…

02-22-2023 | 06:19 AM

#10

copydat

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Could we place a digital clock in the lounges counting down to retirement date of the last pensioner? Sixteen years here so far and I’m still being reminded that we once had pensions.