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 Post subject: Government raising retirement age will cost private pensions
PostPosted: Wed Jul 14, 2010 5:41 pm 
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Cause and effect topic for the region

The area is well know for the generous pension plans the the Steel Mill have for their employees.

With the raising of the retirement age to 70 it will surely have a catastrophic effect on them.

The mill pension plans work on a point basis years of service plus age.

The average employee who hires in at age 18 at age 62 has 44 years of service add that up and it comes up to 106 points anybody can get pension with 70 points.

So what are your thoughts regarding this will the old timers keep working for 5 more years ?

If they stop and working they collect about 80% of their salary till social security kicks in.

There will be an effect if they decide to keep working that means they are holding a position that some other person could have to raise their family.

Will the company want parody and raise the amount of points it takes to retire.

The handwriting is on the wall.

I have been retired for 22 years and they way I did it can't be done anymore because the rules have been changed.

At age 70 if I live I will have been retired for 33 years at age 100 it will be 63 years.

But they say a Black mans life expectancy is short and that surely will be a part of the equation in the argument .

Now here comes the part where I have some fun :smt005 how about retirement ages based on race and gender?
:smt043 :smt043 :smt043 :smt043 :smt043 :smt044 :smt044
:smt005 :smt006

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Last edited by Geronimo on Wed Jul 14, 2010 8:16 pm, edited 2 times in total.

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 Post subject: Re: Government raising retirement age will cost private pensions
PostPosted: Wed Jul 14, 2010 6:01 pm 
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Now with that said I know that was not politically correct.

But let examine what is being said to raise it to 70.

People are living longer !

Who are living longer women or men and with that I can see companies firing the first salvo that a female spouse can't collect until age 70 as long as the spouse is living .

What I'm saying is it's coming and that ain't all you ain't seen nothing yet!
:shock:
:smt100 :smt100 :smt100 :smt100 :smt079

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 Post subject: Re: Government raising retirement age will cost private pensions
PostPosted: Wed Jul 14, 2010 6:42 pm 
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You retired at 37??!?!??!?


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 Post subject: Re: Government raising retirement age will cost private pensions
PostPosted: Wed Jul 14, 2010 8:10 pm 
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38

I had 20 years railroad 12 years Indiana national Guard worked my way through high school which gave me enough time .

The Railroads came up with the drug free work place but did not do there homework. There was no such thing as light duty for a switchman in those days and all the crafts were separate.

If a doctor puts you on certain medicines you can't work as a switchman because we handle hazardous material even nuclear rods.

I went to railroad retirement after being off injured to sign up for retirement and they asked me what medicine I was taking I told them and they told me I would get my first check in 6 months can you imagined how shocked I was.

Can you imagine all the telephone calls I got from people on the job asking me details on how to do it as if I had planned it.

Many were already taking prescription narcotics and still working after they found that out many retired.

Can't do it anymore the new employees can switch crafts they will make you into a clerk or a broom pusher now.

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 Post subject: Re: Government raising retirement age will cost private pensions
PostPosted: Thu Jul 15, 2010 9:23 am 
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Did they give you retirement or disability?


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 Post subject: Re: Government raising retirement age will cost private pensions
PostPosted: Thu Jul 15, 2010 10:53 pm 
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The company said it was permanent incapacity retirement.

The Railroad Retirement Board said it was total disalibility I met the requirements for both disability and had enough credits (360) for a full retirement at my age.

Thats not normal I started work immediately after graduation. I was holding down 3 jobs in the early 70s that payed into social security and railroad retirement and the government. I also worked many side jobs off the books.

They had never encountered this type of situation before.

I was drilled by many lawyers about all the time I had worked and they wanted to know why I would work in violation of the child labor laws.

I came from a family that was not poor but my father gambled everything away!

I had to work to take care of my family and my self.


The door has been slammed shut!

I'm the joke of all my Railroad my friends/associates say I'm the only person that has ever drawed pension more year than he worked.

It's a insult to me that people think I slicked the system!

I met the guidelines/requirements that don't exist anymore.

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 Post subject: Re: Government raising retirement age will cost private pensions
PostPosted: Fri Jul 16, 2010 12:12 pm 
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Location: The armpit of Indiana
They gave him "I'm a scamming piece of trash retirement".. In other words I'm to lazy to work and the world owes me retirement.
Now we have "Obama Care".


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 Post subject: Re: Government raising retirement age will cost private pensions
PostPosted: Fri Jul 16, 2010 12:13 pm 
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Show a company a loophole, they will find a way to close it.


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 Post subject: Re: Government raising retirement age will cost private pensions
PostPosted: Fri Jul 16, 2010 5:41 pm 
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Politician's R Liars wrote:
They gave him "I'm a scamming piece of trash retirement".. In other words I'm to lazy to work and the world owes me retirement.
Now we have "Obama Care".


Image


So what type of pension do you plan on getting what are your planning on working till you die?

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