Hostess robbed pension fund - Page 6

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  1. #51
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    Quote Originally Posted by mikev View Post
    I wonder what the percentage is of companies that provide pensions versus companies that provide 401K's? I would suspect that pensions are not as prevalent as are 401K's. I would also suspect that no company that has 401K's has a union either.
    You may be right. The electricians union manages their own pension funds. Allowing corporations to manage pension funds may have been a result from the teamsters corruption of the 60's and early 70's using pension funds to finance organized crime.

    Then again at least the Mafia put the money back.

  2. #52
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    this isn't political its just plain wrong
    Old School Forum Member

  3. #53
    Senior Member Mister-Jr's Avatar
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    Quote Originally Posted by mikev View Post
    I wonder what the percentage is of companies that provide pensions versus companies that provide 401K's? I would suspect that pensions are not as prevalent as are 401K's. I would also suspect that no company that has 401K's has a union either.
    Pensions are history, unions probably too.

  4. #54
    Senior Member lawaiaa's Avatar
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    Quote Originally Posted by mikev View Post
    I wonder what the percentage is of companies that provide pensions versus companies that provide 401K's? I would suspect that pensions are not as prevalent as are 401K's. I would also suspect that no company that has 401K's has a union either.
    I can only speak for my company.... Teamster Union Labor, 401k with company match as well as Union Pension. The Union handles the pension fund, the company pays into it based on an employees hours at a pre-negotiated rate for the life of a contract

  5. #55
    Senior Member mikev's Avatar
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    Quote Originally Posted by lawaiaa View Post
    I can only speak for my company.... Teamster Union Labor, 401k with company match as well as Union Pension. The Union handles the pension fund, the company pays into it based on an employees hours at a pre-negotiated rate for the life of a contract
    Seems like a pretty good deal for you. Just curious, but since you can manage your own 401K, why do you need to union to manage (and hold) your pension funds?
    "The only people that tell you it can't be done are the people who haven't done it themselves."

  6. #56
    Senior Member HomerSimpson's Avatar
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    Quote Originally Posted by lawaiaa View Post
    I can only speak for my company.... Teamster Union Labor, 401k with company match as well as Union Pension. The Union handles the pension fund, the company pays into it based on an employees hours at a pre-negotiated rate for the life of a contract
    so the liability of the pension has been taken out of the company's hands and the union accepts that responsibility. This is the reason for the switch from pensions to 401k. Pensions are a continued debt for the company (or in your case the union). When times are good and investments are up, then the fund isn't a huge problem. But when investments are down the company must then fund the pension payments out of their current operating expenses, which takes money away from other bussiness. 401k the company makes a one time payment and then has no further liablity with it.

  7. #57
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    Quote Originally Posted by DBRYAN View Post
    You should really pick up a book and read some history. Your daily embarrassments are getting quite boring. Try adding something to the conversation will you?
    A flaming liberal telling someone to read history - now that is funny.

  8. #58
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    Quote Originally Posted by stsimons View Post
    A flaming liberal telling someone to read history - now that is funny.
    It's only funny to the ignorant. Now flex that PHD you claim to have and start using facts.

  9. #59
    Senior Member SLW210's Avatar
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    Quote Originally Posted by DBRYAN View Post
    You should really pick up a book and read some history. Your daily embarrassments are getting quite boring. Try adding something to the conversation will you?
    Try taking your own advice you FACTLESS TROLL!

    Any more information on the 99 year lease?

  10. #60
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    Quote Originally Posted by DBRYAN View Post
    It's only funny to the ignorant. Now flex that PHD you claim to have and start using facts.
    Facts he says.. where do you come up with this stuff.


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