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Politics : Right Wing Extremist Thread -- Ignore unavailable to you. Want to Upgrade?

To: Oral Roberts who wrote (6180)	3/12/2001 3:13:13 PM
From: Lazarus_Long	Read Replies (1) \| Respond to of 59480

$3.60/hr X 40 Hrs X 50 weeks X 25 yrs = $180,000r into the pension fund. Neglecting compounding, that would yield $9900 a year at 5.5%. Yep, they're getting screwed because the're only getting $735/month X 12 months = $8820 a year. And when this is computed as an annuity (as it should be), the final value should be at least twice that $180,000, meaning the union is pocketing at least $10,000 a year of the workers money. Yeah, they're doing them a real favor. I hope flappie sees this. No, I won't hope, I'll post it to him. What's your response to this theft by unions, flappy? And I know companies steal from pension funds too, flappy, but they don't claim to be the worker's friend and only hope.

To: Oral Roberts who wrote (6180)	3/12/2001 4:10:54 PM
From: Mr. Whist	Read Replies (1) \| Respond to of 59480

Jeff and James: Re your pension equation: How is this particular pension plan administered? Joint union-company? Just company? Just union? Is it a defined benefits plan, a cash-balance plan, or somethng else? Is the plan presently underfunded or overfunded? How long has the plan been computed at $3.60 per hour? How long has the plan been in operation? Has the $3.60 figure risen incrementally over the years? If so, provide a history? Does it have a trigger mechanism? What is the exact benefits formula, i.e., years of service times average salary times another factor? Is there a projected expiration date for the pension plan? Is this pension plan commingled with other pension plans? Who manages the pension plan? Who determines investment direction? After these questions are answered, then perhaps we can shed light on why this $750 per month per employee after 25 years is about half of what it should be.