UAW On Strike

[Creedmoor]

Very first line is the link. Try it

Table 10. Median benefit for persons age 65 and older with income from private pensions and annuities, public pensions, and veterans benefits
Type of pension benefit	Median benefit, 2021
Private pensions and annuities	$10,606
Federal government pension	$26,734
State or local government pension	$22,860
Railroad pension	N/Ahttp://www.census.gov/hhes/www/cpstables/032014/perinc/pinc08_000.htm
Military pension	$22,658
Veterans benefits	$13,479

Funnest thing I've read in weeks.

 

[bwframe]

In before the perma-lock.

Maybe when this one closes we can start another couple threads? One for those to brag and fuss about their pensions and another to track the actual UAW strike circumstances and situations?

 

[bobzilla]

Maybe when this one closes we can start another couple threads. One for those to brag about their pensions and another to track the actual UAW strike circumstances and situations?

brag about their pensions and how thuggish they are for people that cross lines or drive the wrong vehicle.

 

[Creedmoor]

Maybe spend a little less time trying to play gotcha or smart ass and a little more time paying attention.

View attachment 306507
There's your link. You still haven't provided one that I asked for so suck it.

Ahhh Yea.

 

[foszoe]

BAHAHAHAHAHAHAHAHAHAHA
Apparently the average pension payout for 2021 across all pensions (private, union, govt, military) is about $19k per year, 1600 per month. The worst was less than $1k/month, the best 1800/month. If that's what a pension is paying out, I'll keep my retirement benefits we have. I can tell you that in 25 years ours have made more money for us than that.

If that's the average, I imagine roughly 50% of pension payouts in 2021 were more than that also. Not that I believe the $1800 figure is correct since I know some folks that get more than that.

 

[foszoe]

Maybe spend a little less time trying to play gotcha or smart ass and a little more time paying attention.

View attachment 306507
There's your link. You still haven't provided one that I asked for so suck it.

I am sure INGOMike will be along soon to ask for you to tone down the passive aggressiveness...I mean he is an impartial mediator!

 

[bobzilla]

If that's the average, I imagine roughly 50% of pension payouts in 2021 were more than that also. Not that I believe the $1800 figure is correct since I know some folks that get more than that.

That would also mean that 50% made less too.

 

[foszoe]

That would also mean that 50% made less too.

Yes. Just like 401ks have a median.

I'd like to see what an average 401k Payout is per year. Can't find it right now though. Plenty of them show average balances.

 

[bobzilla]

Yes. Just like 401ks have a median.

I'd like to see what an average 401k Payout is per year. Can't find it right now though. Plenty of them show average balances.

I am too and like you having a hard time getting anything to reflect that. It's either total retirement income or pensions only that I've found so far. Still looking in the down time.

EDIT:
CLOSEST I CAN FIND here shows that 65+ has about 420k. At a 5% return that would be about 21k per year, or $1700/ month without touching the principle. I know mine has averaged about 6% over the last 15 years that I've been paying attention. Some years in double digits, some years minor loss. And no I am not linking my 401k information to "back it up"

 

[foszoe]

I am too and like you having a hard time getting anything to reflect that. It's either total retirement income or pensions only that I've found so far. Still looking in the down time.

Its tough though because there is a lot more to it, I think.

For example, what if the avg pensioner also has a 401k?
401k affects take home pay more than a pension given equal pay rates so what if the pensioner takes that money and invests it how would it look? And then you assume both max out an IRA contribution also.

The more I think about it, the more my head hurts.

 

[bobzilla]

Its tough though because there is a lot more to it, I think.

For example, what if the avg pensioner also has a 401k?
401k affects take home pay more than a pension given equal pay rates so what if the pensioner takes that money and invests it how would it look? And then you assume both max out an IRA contribution also.

The more I think about it, the more my head hurts.

You sound like my wife when we were going through all our retirement accounts a couple years ago. She had 4 different 403b's because she had changed jobs, and they had changed their plans almost yearly it seemed like. She had a stack of papers as long as my..... forearm that we went through then consolidated them.

 

[bobzilla]

They will match 6% into a 401K. Do you think they were contributing more than that to a pension fund?

I don't know, lets see what that actually means.
AVERAGE IBM EMPLOYEE SALARY $124800, so lets make it a round 120k. That's $7200 per employee per year average.
Old data from the 90's show that they offered 5% of salary up to a max of $7500/year into the plan. So IT sounds like they may be paying about the same.

 

[foszoe]

You sound like my wife when we were going through all our retirement accounts a couple years ago. She had 4 different 403b's because she had changed jobs, and they had changed their plans almost yearly it seemed like. She had a stack of papers as long as my..... forearm that we went through then consolidated them.

You sound like my wife when we were going through all our retirement accounts a couple years ago. She had 4 different 403b's because she had changed jobs, and they had changed their plans almost yearly it seemed like. She had a stack of papers as long as my..... forearm that we went through then consolidated them.

I only know my situation. Max out my 401k, my Roth IRA and a spousal IRA along with an HSA.

NOT providing links to it either.

My goal is to have my annual income equal the top end of the 12% tax bracket

 

[bobzilla]

I only know my situation. Max out my 401k, my Roth IRA and a spousal IRA along with an HSA.

NOT providing links to it either.

My goal is to have my annual income equal the top end of the 12% tax bracket

Technically the wife is supposed to get the last of the TRF pension but we have always planned on it not being there for her when it's time. So we've done similar along with keeping a nice cushion in the savings for emergencies like roof or well or something massive like both losing our jobs and unable to find work for 36 months.... you know the normal. If you don't plan for yourself, no one will.

EDIT: if her TRF actually happens, we will be rich ****s. I ain't even ashamed to admit it. If it doesn't, we'll be fine.

 

[jamil]

They are expensive, also IBM's gross profits the last 3 years have been just under 100 billion dollars.

They don’t owe you anything. They owe their shareholders.

 

[jamil]

Why do non union employers give any benefits that are not required by law?

To be competitive in the job market.

 

[jamil]

Maybe when this one closes we can start another couple threads? One for those to brag and fuss about their pensions and another to track the actual UAW strike circumstances and situations?

Speaking of the strike. Anything new? No? Okay. Might as well argue about pensions.

 

[Brad69]

I like seeing the view that "others" take on retirement.
It's looks to me most INGO people have a good plan.

I was late on the thrift savings plan it didn't start till about 1999 or so for military. I maxed out the first few years.
We didn't get the match that civilian employees get.

So I will get a small check at 62 out of that.

 

[bwframe]

Stellantis, citing UAW strike, announces more layoffs in Ohio

Stellantis says workers at a plant that supplies components for Jeep Wrangler and Gladiator production will be laid off because of the UAW strike.

www.freep.com

 

[bwframe]

UAW President Shawn Fain to give update on Detroit Three negotiations Friday afternoon

UAW President Shawn Fain to update members on Friday about contract negotiations with Ford, General Motors and Stellantis after five weeks.

www.freep.com