military retirees could face pension reductions - Page 3

Trip · 09-22-2011, 11:28 AM

Yeah, 401k's aren't as good, but we can't afford pensions. Pensions were an awesome idea for workers, shitty way to actually run a sustainable retirement plan.

Apoc · 09-22-2011, 08:04 PM

Dear vets. We have destroyed the country you fought to protect, and now we want back the money you earned. Thank you.

Cutty72 · 09-23-2011, 12:39 AM

Hey, the Canadian gets it, why can't we?

Tmall · 09-23-2011, 01:39 PM

Quote:

Originally Posted by Apoc

Dear vets. We have destroyed the country you fought to protect, and now we want back the money you earned. Thank you.

They're doing the same to us up here. Added 5 years to our minimum retirement. Added all kinds of penalties. And they wonder why people are leaving in droves. While the MP's who voted that shit in have a golden parachute and pensions that put an average worker's to shame.

My G.A.F. with the CF is non-existent. I can't wait to pull the plug and get a real job.

Amorok · 10-01-2011, 09:42 PM

20 years in the military whether you're in a combat billet or not, is an endurance test. I've done twelve years and if there's not a pension at the end of the next eight I'm cutting and running. I'm getting tired of the government turning it's back on or otherwise betraying it's veterans. Maybe a little fiscal responsibility is a better response to our fiscal difficulties is a better idea than ripping off veterans. And if my pension is such a bad idea then you come out here and do what I do for a living. You're more than welcome to do so for a crappy 401K. And no, people who get out before 20 don't get a pension. If they want one, they're more than welcome to retire and earn it.

101lifts2 · 10-01-2011, 10:34 PM

I had a pension from General Motors after 7 years, which I bought out for 33 grand (lucky for me because 4 years later they went B.K) in 2004.

I have a 401k now plus a pension from Isuzu, which was 100% vested after 5 years (I've been here 9 years). The pension is fully paid for, not dependant upon future vehicle sales, but currently they are not incressing the funding, so it's been at a standstill for a few years now.

I remember back in the late 90s GM was paying 80% retirement for the combined avg. of your last 5 years of base pay. There were many people making 80-100k a year, retiring at around 60 grand plus whatever they saved in their 401k. Now you know why GM went bankrupt. lol

09-22-2011, 08:04 PM	#22
Apoc For Science. You Monster. Join Date: Nov 2008 Location: Canada Moto: '08 HD FLSTSB Posts: 3,546	Dear vets. We have destroyed the country you fought to protect, and now we want back the money you earned. Thank you. __________________ Android OS causes gay. Dont let your child use Android (unless she's a hot female). And dont let your babies grow up to be cowboys, either.

10-01-2011, 09:42 PM	#25
Amorok Issukangitok Join Date: Nov 2008 Location: Biloxi, MS Moto: '06 Suzuki Boulevard C50T Posts: 2,225	20 years in the military whether you're in a combat billet or not, is an endurance test. I've done twelve years and if there's not a pension at the end of the next eight I'm cutting and running. I'm getting tired of the government turning it's back on or otherwise betraying it's veterans. Maybe a little fiscal responsibility is a better response to our fiscal difficulties is a better idea than ripping off veterans. And if my pension is such a bad idea then you come out here and do what I do for a living. You're more than welcome to do so for a crappy 401K. And no, people who get out before 20 don't get a pension. If they want one, they're more than welcome to retire and earn it. __________________ What goes around comes around. Sometimes you get what's coming around, and sometimes you are what's coming around. You see what I mean?

10-01-2011, 10:34 PM	#26
101lifts2 WSB Champion Join Date: Nov 2008 Location: Anaheim, CA Moto: 2009 Kawi ZX6R Posts: 5,570	I had a pension from General Motors after 7 years, which I bought out for 33 grand (lucky for me because 4 years later they went B.K) in 2004. I have a 401k now plus a pension from Isuzu, which was 100% vested after 5 years (I've been here 9 years). The pension is fully paid for, not dependant upon future vehicle sales, but currently they are not incressing the funding, so it's been at a standstill for a few years now. I remember back in the late 90s GM was paying 80% retirement for the combined avg. of your last 5 years of base pay. There were many people making 80-100k a year, retiring at around 60 grand plus whatever they saved in their 401k. Now you know why GM went bankrupt. lol __________________ Train Hard Ron Paul - 2012 Mark of Excellence GM

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09-22-2011, 11:28 AM	#21
Trip Hold mah beer! Join Date: Feb 2008 Location: 80 Miles South of Moto Heaven Moto: 08 R1200GS Posts: 23,268	Yeah, 401k's aren't as good, but we can't afford pensions. Pensions were an awesome idea for workers, shitty way to actually run a sustainable retirement plan.