Go Back  The Hull Truth - Boating and Fishing Forum > BOATING FORUMS > Dockside Chat
Reload this Page >

Who gives the best pension benefit? Union or Government

Notices

Who gives the best pension benefit? Union or Government

Old 12-18-2013, 06:25 PM
  #1  
Senior Member
Thread Starter
 
Join Date: Aug 2010
Location: Detroit, MI
Posts: 1,051
Default Who gives the best pension benefit? Union or Government

I'm 40 years old and have been thinking it would be awesome to retire with a pension and health benefits. I am wondering which union or what kind of government job can I get to secure a guaranteed pension and health benefits in 20 years. My family has long life spans and I will probably live past 100 years so I'm thinking I would receive about 40+ years of benefits.

FYI
-I have 3 businesses and can probably run two of them while holding down a full time job so I'd have to get rid of at least one of them most likely 2 though. I would use the proceeds to add to a Roth 401k account.
-I would be flexible on the location of this job
-I have a bachelors degree in finance and have recent experience manufacturing, sales, management, and retail. I have above average computer kills and not scared to try new things.
-I would be open to receiving education or training to prepare for the new job.
-I know there is such a thing as being able to "buy" years into being vested into a pension and I would be very interested in positions that would offer this opportunity to speed up the process.

So what do you think? City job, state job, fed job? UAW, Teamsters? what's the best gig out there to get retirement benefits?
I Love Beer is offline  
Old 12-18-2013, 06:52 PM
  #2  
Senior Member
 
Join Date: Nov 2005
Posts: 10,223
Default

They are doing what they can to some gov jobs to remove the "comfort" levels you speak of. Not fast enough for some but way too fast for those under gov employ, choose carefully, it may all be gone by the time you are ready to retire.
08087 is offline  
Old 12-18-2013, 07:06 PM
  #3  
Admirals Club Admiral's Club Member
THT sponsor
 
Join Date: Oct 2005
Location: Sailfish Capital. Snook fishing ain't bad either
Posts: 3,786
Default

Neither. Both plans will be bankrupt by the time you retire. Take care of yourself and don't depend on anyone to do it for you
tomfl is offline  
Old 12-18-2013, 07:29 PM
  #4  
Senior Member
 
Join Date: Jun 2006
Location:
Posts: 3,998
Default

Have at it, lots of federal jobs


https://www.usajobs.gov/

Finance Jobs

https://www.usajobs.gov/Search?keywo...&search=Search

You can buy into the pension plan using your military time. If you were in for four years you can buy in by paying in what you would have paid in if you were a govt employee for those 4 years. That military time wasn't wasted, you also get a 5 point veterans preference added to your evaluation.

As far as working a business while holding a full time job-good luck. You will have a probationary period, probably followed by two years as a temp, if you don't cut it you won't be fired. Your position will just disappear and you will no longer be needed

You almost have to know someone to get a union job. Every once in awhile they will open up a union apprentice program, thousands apply. Pretty much the same numbers for firefighters, very competitive

Last edited by FishnDive; 12-18-2013 at 07:46 PM.
FishnDive is offline  
Old 12-18-2013, 07:31 PM
  #5  
Senior MemberCaptains Club Member
 
Join Date: Aug 2004
Posts: 9,655
Default

Federal government for now.
My Gal is offline  
Old 12-18-2013, 07:40 PM
  #6  
Admirals Club Admiral's Club Member
 
Join Date: Jan 2011
Location: Cudjoe Key, FL
Posts: 1,333
Default

I Love Beer, I think your 30 years to late for that plan.

Originally Posted by 08087 View Post
They are doing what they can to some gov jobs to remove the "comfort" levels you speak of. Not fast enough for some but way too fast for those under gov employ, choose carefully, it may all be gone by the time you are ready to retire.
08087 is right about the Gov jobs, every budget proposal includes some sort of benefits reduction for fed works. Their pay has been frozen the last three years with no increase in sight. Also they all got furloughed last summer and work force reductions are planned for 2014 & 2015.

States and municipalities are all bankrupt and canceling their agreements with retirees. Just look at Detroit, every municipality in the country is ready to follow their example and dump their commitments.

So your left with UAW, but the good news is they are hiring. Starting wage for new hires is $14.00 an hour and you pay an ever increasing share of benefits like heath care. But you would get profit sharing and a deal on a new car if you could afford to buy one on $14.00 an hour.

Sounds like you doing pretty good now, so you might not want to sell those three business of yours.
Coral Head is offline  
Old 12-18-2013, 07:59 PM
  #7  
Junior Member
 
Join Date: Dec 2013
Posts: 24
Default

UAW doesn't have a pension. The car company you work for does.
Kliph is offline  
Old 12-18-2013, 09:43 PM
  #8  
Senior Member
 
Join Date: Nov 2005
Posts: 10,223
Default

Where I work every entry level position is now temp. The only way you can become permanent is to wait for others to retire or promote or you promote. Going the former route will take you at least 3 years to become permanent. That's a long time with no vacation, no raise, no scheduled regular days off (they change week to week) and you can be let g at any time for any or no reason whatsoever.
08087 is offline  
Old 12-18-2013, 11:30 PM
  #9  
Senior Member
 
Join Date: Feb 2011
Location: Pacific NW coast~!
Posts: 2,287
Default

Politics
makonnen is offline  
Old 12-19-2013, 02:23 AM
  #10  
Senior Member
Thread Starter
 
Join Date: Aug 2010
Location: Detroit, MI
Posts: 1,051
Default

Originally Posted by makonnen View Post
Politics
Interesting, I might be able to swing that. I assume that I could start in local government and move my way up, what's the best path to be a blood sucking thief?
I Love Beer is offline  
Old 12-19-2013, 03:23 AM
  #11  
Senior Member
 
Join Date: Jan 2011
Location: Pismo Beach, Ca.
Posts: 3,825
Default

Originally Posted by I Love Beer View Post
Interesting, I might be able to swing that. I assume that I could start in local government and move my way up, what's the best path to be a blood sucking thief?
Just be a good liar.
Mark Y is offline  
Old 12-19-2013, 03:27 AM
  #12  
Admirals Club Admiral's Club Member
 
Join Date: Nov 2008
Location: Somewhere in the middle of Michigan
Posts: 10,369
Default

Originally Posted by Mark Y View Post
Just be a good liar.
Ah- so your advice is "go into politics, get a Congressional pension".
yarcraft91 is offline  
Old 12-19-2013, 03:42 AM
  #13  
Admirals Club Admiral's Club Member
 
Join Date: Nov 2007
Location: Long Island, NY
Posts: 8,324
Default

Government pensions are both larger and more secure when compared to a union pension.
Most federal jobs, except military, require 25 years for a full pension,
LI32 is offline  
Old 12-19-2013, 05:22 AM
  #14  
Senior MemberCaptains Club Member
 
Halfmoon's Avatar
 
Join Date: Jun 2005
Location: Annapolis, MD
Posts: 3,368
Default

My union pension is great!

The company I worked for paid into my heath, wealth and pension plan on top of my hourly pay. Each area has it's own local teamsters union and trust me they are not all the same. I am very fortunate to be in one of the highest paying and funded pension plans in the country.
Halfmoon is offline  
Old 12-19-2013, 05:34 AM
  #15  
Senior MemberCaptains Club Member
 
Join Date: Aug 2002
Location: St. Augustine, Fl
Posts: 21,766
Default

My pension is descent but most places, your NOT getting any break on healthcare when you retire. My healthcare costs for my wife and I will eat up at least 35% of my pension. Once you factor in that cost, it about what military gets and I funded at least 25% of my pension through withdraws from my paycheck...

Its all relative, I guess
Cracker is offline  
Old 12-19-2013, 05:44 AM
  #16  
Senior Member
 
Join Date: Aug 2011
Location: Kingston, MA
Posts: 1,827
Default

Job in energy, union or not - gas, oil, power generation is where it's at right now. I work for a large non-union NG company with great benefits including matched 401k contributions as well as a cash balance pension after being vested for 3 years.
burtonboards32 is offline  
Old 12-19-2013, 05:56 AM
  #17  
Senior Member
 
Join Date: Sep 2007
Location: Empire, La.
Posts: 1,654
Default

I am retired from UTC and my union pension is a JOKE!. After 25 years I get 947 per month with NO insurance benefits. Something but not good at all. No mater what you end up with you just have to find a way to live with it. Good Luck.
capthoop is offline  
Old 12-19-2013, 06:23 AM
  #18  
Senior Member
 
Join Date: Jan 2011
Location: Pgh Pa
Posts: 14,549
Default

Originally Posted by Halfmoon View Post
My union pension is great!

The company I worked for paid into my heath, wealth and pension plan on top of my hourly pay. Each area has it's own local teamsters union and trust me they are not all the same. I am very fortunate to be in one of the highest paying and funded pension plans in the country.
Are you under the Teamsters freight hauler's pension?
Thalasso is offline  
Old 12-19-2013, 06:46 AM
  #19  
Senior Member
 
Join Date: Apr 2009
Location: Too far from salt.
Posts: 10,019
Default

If you can lie like a professional, whore yourself out, compromise every ideal you ever had, check your morals at the door and completey not give a shit about your average man, politics. Serve one term and you are set with a pension and healthcare, and none of that Obozocare crap either.
DFreedom is offline  
Old 12-19-2013, 06:57 AM
  #20  
Senior MemberCaptains Club Member
 
Join Date: Mar 2002
Location: East Hampton Ct
Posts: 3,218
Default

The legacy pension plans are fast becoming a minority being replaced by a cash balance plan, or in some cases nothing. It's not only happening to new hires it's also switching over current working employees by grandfathering and freezing existing legacy pensions at a certain point and then offering a cash balance plan going forward. Irregardless of Gov or union jobs it's happening everywhere. The last guy to die with a legacy plan will be shrined as a hero by the working class.
KeithS is offline  

Thread Tools
Search this Thread