Attack on our benefits. 401k match is up next

C

Chapdog

Abreast of the situations
There is an all out assault going on thats slowly stripping away benefits that employees have at companies. (duhh.. ets let the private market dictate whats needed.. employees wont work there if benefits aren't good)

So what do the companies do in this scenario... well they do whats best for the company by making deals with competitors to strip away pensions in unison. Now they are going after the 401k's they used to lure you out of your pension


Bottom line you cannot trust people/companies to do the right thing when given the opportunity. If 2008 hasn't shown you proof of this I dont know what to tell you

http://www.usatoday.com/money/perfi/retirement/2008-10-28-pension-401k-match-ending_N.htm
 
Chapdog said:
There is an all out assault going on thats slowly stripping away benefits that employees have at companies. (duhh.. ets let the private market dictate whats needed.. employees wont work there if benefits aren't good)

So what do the companies do in this scenario... well they do whats best for the company by making deals with competitors to strip away pensions in unison. Now they are going after the 401k's they used to lure you out of your pension


Bottom line you cannot trust people/companies to do the right thing when given the opportunity. If 2008 hasn't shown you proof of this I dont know what to tell you

http://www.usatoday.com/money/perfi/retirement/2008-10-28-pension-401k-match-ending_N.htm
Click to expand...

Dont worry Chappy... Your going to be fine... Your pulling what 200 to 300G's a year?

That will only affect the middle class...

CK
 
Hardly. I come from very humble roots. Paid 100% of BSBA and MBA myself. Work 10+hours per day with no gaps since college to get what I have.
 
Chapdog said:
There is an all out assault going on thats slowly stripping away benefits that employees have at companies. (duhh.. ets let the private market dictate whats needed.. employees wont work there if benefits aren't good)

So what do the companies do in this scenario... well they do whats best for the company by making deals with competitors to strip away pensions in unison. Now they are going after the 401k's they used to lure you out of your pension


Bottom line you cannot trust people/companies to do the right thing when given the opportunity. If 2008 hasn't shown you proof of this I dont know what to tell you

http://www.usatoday.com/money/perfi/retirement/2008-10-28-pension-401k-match-ending_N.htm
Click to expand...


Darn an anti coproration liberal :shock:
 
Chapdog said:
There is an all out assault going on thats slowly stripping away benefits that employees have at companies. (duhh.. ets let the private market dictate whats needed.. employees wont work there if benefits aren't good)

So what do the companies do in this scenario... well they do whats best for the company by making deals with competitors to strip away pensions in unison. Now they are going after the 401k's they used to lure you out of your pension


Bottom line you cannot trust people/companies to do the right thing when given the opportunity. If 2008 hasn't shown you proof of this I dont know what to tell you

http://www.usatoday.com/money/perfi/retirement/2008-10-28-pension-401k-match-ending_N.htm
Click to expand...
You may remember that benefits and stock went up a lot in the 90's and many employees switched companies for better offers, were those "untrustworthy" companies less hungry for cost control or profit then? The difference between then and now is the labor market in relation to number of jobs out there. What would push it back to being a more favorable market for employees would be a larger number of employers where the competition favors you more.
So, what do you think will lead to more companies moving and staying and being created here, Obama and Dems tax increases and higher regulations? OR go the other way to move to a more free market with lower taxes and less government spending and regulations?
 
The difference between then and now is President Clinton and President Bush....

President Bush is a horrible president and will go down in American history as the worst US President EVER....

President Clinton on the other hand led one of the most prosperous periods in history.... The only thing he fucked was an intern... compared to President Bush who fucked up everything....

CK
 
KingCondanomation said:
You may remember that benefits and stock went up a lot in the 90's and many employees switched companies for better offers, were those "untrustworthy" companies less hungry for cost control or profit then? The difference between then and now is the labor market in relation to number of jobs out there. What would push it back to being a more favorable market for employees would be a larger number of employers where the competition favors you more.
So, what do you think will lead to more companies moving and staying and being created here, Obama and Dems tax increases and higher regulations? OR go the other way to move to a more free market with lower taxes and less government spending and regulations?
Click to expand...

what are you going to retire on? Do you have a pension, an inheritance, or are you saving for your self in a 401k or IRA? if the answer is the last one then what is your strategy to save enough money for yourself that you will be able to afford in today's dollars 800bucks a month for medical as well as a living income?

How free of a market are you willing to accept? one where they can eliminate all benefits and then when times are good and they need more employees just hire offshore?
 
Chapdog said:
what are you going to retire on? Do you have a pension, an inheritance, or are you saving for your self in a 401k or IRA? if the answer is the last one then what is your strategy to save enough money for yourself that you will be able to afford in today's dollars 800bucks a month for medical as well as a living income?

How free of a market are you willing to accept? one where they can eliminate all benefits and then when times are good and they need more employees just hire offshore?
Click to expand...

I have a 401k with my company and when the company has done they have contributed to our accounts. When the company is doing poorly like now it hasn't. While I would love to have the company always match my contributions I realize that's not realistic. Our parent company's stock has been getting hammered and we have been forced to cut serious costs. They tried to do what they could to avoid layoffs but those have started coming as well. I would much rather have my job with no 401k contribution from the company than not have my job.
 
Chapdog said:
what are you going to retire on? Do you have a pension, an inheritance, or are you saving for your self in a 401k or IRA? if the answer is the last one then what is your strategy to save enough money for yourself that you will be able to afford in today's dollars 800bucks a month for medical as well as a living income?
Click to expand...
I have never had a pension, not much in stock as I already sold most and pretty decent savings because I've been careful.
I don't plan on retiring no matter how good or bad I do, I run a side small business which is doing better this year and I love, it's not much but it's growing.

Chapdog said:
How free of a market are you willing to accept? one where they can eliminate all benefits and then when times are good and they need more employees just hire offshore?
Click to expand...
Chap, I AM a programmer, the one group that was supposed to be hit hardest by offshoring and la-dee-dah I am still here, haven't seen much of that. The whole outsourcing fearmongering BS was played to no avail in the 2004 election with Kerry, same thing Dems always do in elections that they are down in - create fear over jobs. Remember Japanese corps fear they pushed in the 80's? Remember NAFTA, FTA and automation fears they pushed?
It's all bullshit. Look at the facts:

1. Government statisticians reckon that outsourced jobs are responsible for well under 1% of those signed up as unemployed.
http://www.economist.com/World/na/displayStory.cfm?story_id=2501977

2. We have economically, provably resulted in a net gain of jobs here when measuring countries outsourcing here to our outsourcing to other countries:
http://www.economist.com/World/na/displayStory.cfm?story_id=2572245

Remember this is from a magazine that endorsed Clinton over Dole. So it can't be smeared as right-wing...
 
cawacko said:
I have a 401k with my company and when the company has done they have contributed to our accounts. When the company is doing poorly like now it hasn't. While I would love to have the company always match my contributions I realize that's not realistic. Our parent company's stock has been getting hammered and we have been forced to cut serious costs. They tried to do what they could to avoid layoffs but those have started coming as well. I would much rather have my job with no 401k contribution from the company than not have my job.
Click to expand...

Yeah bingo and I'd add that this is a huge reason why GM, Ford and Chrysler are all in shit because their union refuses to concede on their mammoth pension plans. So instead they will bleed jobs and not much cash for R & D for the future.
 
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