# pension



## sparky970 (Mar 19, 2008)

How many non-union electricians have a pension, other than 401K?


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## brian john (Mar 11, 2007)

My non-union employees do. We set up a profit sharing program 20 years ago covers us (owners) and them.


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## Thomps (Nov 27, 2008)

*pensions*

Like Brian, we set up a deferred profit sharing program a little over 20 years ago, where the contributions where invested on the employees behalf. They had the opportunity to withdraw any money formt he plan, but where advised against it. 
Over the years, the plan changed, and for the last 10 years we had a direct payout Profit sharing plan, where the guys were responsible for their money themselves. 

Last year we also started an R.R.S.P matching contribution plan.


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## gardiner (Sep 25, 2007)

The company I work for has a pension plan.


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## paul d. (Jul 13, 2008)

just 401k for me. i put in $110/wk. the co. put in $13. been in it for about 12 yrs.


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## sparkyboys (May 3, 2009)

MAN, these union guys think they have better everything. a pension is a 401k. i have 401k=6%:3%, profit sharing, job bonuses for foremen, journeyman are given brand new tools after the test, most take theirs home and leave em. 

UH UH UH UH i gotta pension plan, yipeee


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## paul d. (Jul 13, 2008)

sparky, theres a difference between a defined GURANTEED pension plan and a 401k.


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## MDShunk (Jan 7, 2007)

paul d. said:


> sparky, theres a difference between a defined GURANTEED pension plan and a 401k.


You mean like the NEBF?


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## paul d. (Jul 13, 2008)

MDShunk said:


> You mean like the NEBF?


 not exactly. i was thinkin PBGC.


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## sparkyboys (May 3, 2009)

MDShunk said:


> You mean like the NEBF?


hey thats pretty cool. now you union workers cant say any degrading things to us non-union workers about their freaking pension plan.


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## randomkiller (Sep 28, 2007)

sparkyboys said:


> MAN, these union guys think they have better everything. a pension is a 401k. i have 401k=6%:3%, profit sharing, job bonuses for foremen, journeyman are given brand new tools after the test, most take theirs home and leave em.
> 
> UH UH UH UH i gotta pension plan, yipeee


 
sparkyboy have you ever had a house that didn't have wheels on it?


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## paul d. (Jul 13, 2008)

sparkyboys said:


> hey thats pretty cool. now you union workers cant say any degrading things to us non-union workers about their freaking pension plan.


 sparky, are you REALLY from ga.?


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## sparkyboys (May 3, 2009)

paul d. said:


> sparky, are you REALLY from ga.?


born and raised


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## sparkyboys (May 3, 2009)

randomkiller said:


> sparkyboy have you ever had a house that didn't have wheels on it?


i rent a home, i aint trailer trash!


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## brian john (Mar 11, 2007)

Sparky JUST ONCE, ok JUST ONCE lets see where a thread in this topic heading goes, without trashing the other side. 

The poster posed a legit question, and the question is something that defines one of the differences between open shops and union shops. He may or may not know the answer. But I do not see any malice in his question.


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## sparkyboys (May 3, 2009)

brian john said:


> Sparky JUST ONCE, ok JUST ONCE lets see where a thread in this topic heading goes, without trashing the other side.
> 
> The poster posed a legit question, and the question is something that defines one of the differences between open shops and union shops. He may or may not know the answer. But I do not see any malice in his question.


you sure one to talk:

How about NO MORE UNION TOPICS in this section, IF YOU ARE SO GD STUPID YOU CANNOT FIGURE OUT WHERE THE UNION SECTION IS, YOU SHOULD BE BANNED. 

(this is you hot head)

Keep the GD UNION SH*T in the GD UNION SECTION YOU GD DOLTS.

And it has been my goal to quit swearing this year but this constant crap has pushed my buttons.

If Nathan see fit to keep the Union section open (against my wishes) so be it, me I think it soils the site. Being union has NOTHING to do with being an electrician and NOT one discussion in that section has benefited anyone. 
__________________


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## 480sparky (Sep 20, 2007)

I have a 401k. These days, however, it's more like a 201k.


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## william1978 (Sep 21, 2008)

480sparky said:


> I have a 401k. These days, however, it's more like a 201k.


 I know thats right.:laughing:


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## brian john (Mar 11, 2007)

sparkyboys said:


> you sure one to talk:
> 
> How about NO MORE UNION TOPICS in this section, IF YOU ARE SO GD STUPID YOU CANNOT FIGURE OUT WHERE THE UNION SECTION IS, YOU SHOULD BE BANNED.
> 
> ...


Don't show you freaking inability to underrstand a post. MY RANT was about the VERY THING you in your supreme stupidity continually drag in. You are no better that a union poster degrading open shop men. So I lower my self to you level and tell you.

GET REAL.


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## sparkyboys (May 3, 2009)

brian john said:


> Don't show you freaking inability to underrstand a post. MY RANT was about the VERY THING you in your supreme stupidity continually drag in. You are no better that a union poster degrading open shop men. So I lower my self to you level and tell you.
> 
> GET REAL.


what ever.


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## Southeast Power (Jan 18, 2009)

Funny how the NEBF could be in trouble when the average payout is 13 months after retirement.

We pay.75 per hour for NEBF. Not the big one but they do have 11.8 billion stached away.


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## Mike_586 (Mar 24, 2009)

jrannis said:


> Funny how the NEBF could be in trouble when the average payout is 13 months after retirement.
> 
> We pay.75 per hour for NEBF. Not the big one but they do have 11.8 billion stached away.


Although I'm in the IBEW, up here in Canada we don't use the NEBF and have our own pension plans that each local is responsible for. With ours close to $7/hour goes into it, and what you get when you retire depends entirely on what you put in during your career. We had something similar to the NEBF in the past, its before my time with the union, but that plan was broken, unsustainable and a lot of older guys are getting screwed over...

Locally, on the non-union side, very few companies around here have any pension or benefit plans to speak of. Something I've found really puzzling considering the strength of the union in our region. The differences in pay alone are substantial, when you factor in benefits and pension that the majority don't even have, and the differences are massive.

I do know of a few open shop companies that do have some pretty damned respectable pension and benefit plans though. One that I would have loved to get in with before getting into the union had excellent pension and benefits, even paid sick days, and has a reputation of taking care of its employees with very little turn over on personel. 

I think I've mentioned it in the past, but what kinds of benefits/pension plans open shop companies offer really depends on the market they exist in. Some regions are much better than others in that regard.


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## erics37 (May 7, 2009)

I know the OP was directed toward non-union guys, but I figure I'd contribute anyway, if anyone gives a crap 

Our local is pretty small (like 150 JW, maybe 50 or so apprentices, if not less) so we have an arrangement with some of the other Locals in the state to participate together in Pension and 401(k) plans and such. The pension kind of runs itself; I'm not sure if it's guaranteed or what. With the 401(k) we have the option of either investing it all in the same fund as the pension plan, or we can use it like a normal 401(k) and direct our own investments (usually between 10 - 12 mutual fund options).

I figured out how much I need to take home each week to pay the bills and be able to stash some emergency cash and just stick with that - each time I get a raise I just divert some of it into my 401(k) and most of the remainder into my own personal investments. If I need to start taking home more cash I'll do a new W-4 and claim my wife and step-son (just claiming myself at the moment).

My 401(k) has of course been plummeting, but I'm proud to say that it's plummeting at SLIGHTLY LESS of a rate than most of the market indexes  I try to stay away from the index mutual funds and stick primarily with the Value funds. And I keep a healthy amount in the foreign stock funds as well as bond funds, and a decent chunk in some low-risk stable asset kind of things. I'm not quite 27, I've got plenty of time for those money-tricklers to do their thing  That being said, I've got some tucked away in more aggressive funds too. They're taking a beating right now of course but they'll rebound eventually.. I've got time. They're nice to have when the going's good, and it's handy to be able to go online and redirect your contributions when you feel something is amiss with the markets...

Sorry, this is getting a bit off subject. Just thought I'd share.


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## sparky970 (Mar 19, 2008)

brian john said:


> Sparky JUST ONCE, ok JUST ONCE lets see where a thread in this topic heading goes, without trashing the other side.
> 
> The poster posed a legit question, and the question is something that defines one of the differences between open shops and union shops. He may or may not know the answer. But I do not see any malice in his question.


This thread isn't meant as any sort of bashing. I've never worked non-union and I just wanted to know what type of retirement everyone is earning.


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## paul d. (Jul 13, 2008)

its all contribution. if you dont put some in , you get NOTHING out. some employers might have some plans, but most have the 401k. or nothing.


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## brian john (Mar 11, 2007)

No matter who you are I would suggest having a rainy day fund and a retirement plan. At 18 it seems like a waste of money at 56 you may think different. That money you pee away on beer or some other junk could be working towards your retirement.


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## erics37 (May 7, 2009)

brian john said:


> That money you pee away on beer or some other junk could be working towards your retirement.


Which is precisely the reason I rarely drink: too expensive.


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## LGLS (Nov 10, 2007)

sparkyboys said:


> i rent a home, i aint trailer trash!


Me too. I rent the homes I own out. :laughing:


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## LGLS (Nov 10, 2007)

480sparky said:


> I have a 401k. These days, however, it's more like a 201k.


I have a 401k as well. But that's on top of the 4 other defined benifit pensions that existed long before anyone ever had a 401k.

With your 401k, can you log onto a website and make adjustments? Once I saw what Bush and his effect on the economy was going to do, I took every dime I had and redirected it into a preservation fund, while altering all future contributions there as well. 

I didn't lose a nickel, fared quite well in fact.


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## LGLS (Nov 10, 2007)

sparkyboys said:


> Being union has NOTHING to do with being an electrician and NOT one discussion in that section has benefited anyone.


Being union has everything to do with being a working man in the United States of America. I believe in freedom and in choice. If a topic isn't to your liking, then there's a little "x" you can push to make it go away, and leave everyone who DOES want to partake in the discussion to excersize their freedoms.

You don't believe in those book burnings, do you?


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