pension liabilities weigh on big 3

pension liabilities weigh on big 3

Posted in the Chrysler Forum

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joe

AOL

#1 Feb 5, 2010
could it be because of the high number of workers retiring because of buyouts
Damage Control

United States

#2 Feb 6, 2010
joe wrote:
could it be because of the high number of workers retiring because of buyouts
4 retirees to 1 worker ratio...like our economy...no money going in and a lot going out in support. Need to get people back to work.
Ind Rt 19

Windfall, IN

#3 Feb 6, 2010
Damage Control wrote:
<quoted text>
4 retirees to 1 worker ratio...like our economy...no money going in and a lot going out in support. Need to get people back to work.
why don't you get on the phone and try to sell cars instead of playing little troll on the net?
John

AOL

#4 Feb 6, 2010
chrysler is 3.6 underfunded. to many people taking retirements at abnormal rate
Whatever

Ava, MO

#5 Feb 6, 2010
Pensions,pensions, people should be thankful they are working. Let them retire on Social Security like most Americans have to, or start saving money back for retirment. No wonder car prices are so outrageous! But then America can't see that Greed will be the end of it if people don't start thinking about more than money,money,money!
john

AOL

#6 Feb 6, 2010
Whatever wrote:
Pensions,pensions, people should be thankful they are working. Let them retire on Social Security like most Americans have to, or start saving money back for retirment. No wonder car prices are so outrageous! But then America can't see that Greed will be the end of it if people don't start thinking about more than money,money,money!
can you live on 1000per month
uaw1984

United States

#7 Feb 6, 2010
Whatever wrote:
Pensions,pensions, people should be thankful they are working. Let them retire on Social Security like most Americans have to, or start saving money back for retirment. No wonder car prices are so outrageous! But then America can't see that Greed will be the end of it if people don't start thinking about more than money,money,money!
Oh, and you wouldn't want a pension?? Are you just upset because you do not have one where you work?? The UAW worked hard for the benefits we USED to recieve. Just give all the profits to the company you work for and let the "big dogs" live high on the hog on your commitment to your employer. That is what the union is about! And your right GREED will be the end of it for the working people because of the CEO's NOT us!!!
charles

Saint Louis, MO

#8 Feb 6, 2010
John wrote:
chrysler is 3.6 underfunded. to many people taking retirements at abnormal rate
It is that Bush change the law that companies retirement had to be 100% funded.Clinton put that law in because they were hiding money in there and spending it like mad. GM would do this back in the 90s. They would put all there profit in the retirement fund before the end of the year and then take it out latter.
WeaserGB

Green Bay, WI

#9 Feb 6, 2010
Profits to the company? What are you talking about?. The UAW is being hammered in most industies. Time for the big three to lay the Hammer down on the UAW. Chrysler will not be making cars within three years so I guess this issue goes away.
charles

Saint Louis, MO

#10 Feb 6, 2010
WeaserGB wrote:
Profits to the company? What are you talking about?. The UAW is being hammered in most industies. Time for the big three to lay the Hammer down on the UAW. Chrysler will not be making cars within three years so I guess this issue goes away.
You have no idea of what you are talking about another head line reader. You must be about 20 because if you would of lived in that time you would know.
http://www.fpaforfinancialplanning.org/ToolsR...
charles

Saint Louis, MO

#11 Feb 6, 2010
This is were Bush and Cheney let companies still everyone retirement.
Pension Protection Act of 2007

Another one of the Republicans screw jobs.

Since: Jan 10

AOL

#12 Feb 6, 2010
joe wrote:
could it be because of the high number of workers retiring because of buyouts
Dude, it's a P.R. Campaign to get rid of Pensions, come on, they throw huge numbers out there that they know are not up to date, they include Pensions for Salary and UAW but also WORLDWIDE PENSIONS, did you know that (Ford and GM) but most would think it's because of the UAW Pension obligation aka "LEGACY COST", this is a P.R. spin trying to get "relief" aka discount on future Pension payments, in Chrysler's case, is Chrysler including Daimler's contribution to the Hourly Pension Fund for this year and next years contribution? As soon as the Economy gets better, the deficit would turn into an Over Funded Pension Plan, Then we can talk about future contributions and only then

Since: Jan 10

AOL

#13 Feb 6, 2010
Chrysler's Pension obligation was underfunded by $3.6 billion at the end of 2008? It's 2010, were is it at Today? Typical P.R. bullshit

Since: Jan 10

AOL

#14 Feb 6, 2010
and with that $3.6 billion short fall at the end of 2008 also included NON HOURLY OBLIGATIONS aka Bob Eaton, Tom Lasorda etc etc but i'm sure the Public only thinks it's all UAW

Since: Jan 10

AOL

#15 Feb 6, 2010
WeaserGB wrote:
Profits to the company? What are you talking about?. The UAW is being hammered in most industies. Time for the big three to lay the Hammer down on the UAW. Chrysler will not be making cars within three years so I guess this issue goes away.
in 3 years you'll say another 3 years, in 6 years you'll say another 3 years, in 9 years you'll say another 3 years etc etc etc I'd Worry about Toylet Motors and all the negative press they are getting, i wonder if they will be making any cars in 3 months let alone 3 years, o what a feeling

Since: Jan 10

AOL

#16 Feb 6, 2010
Whatever wrote:
Pensions,pensions, people should be thankful they are working. Let them retire on Social Security like most Americans have to, or start saving money back for retirment. No wonder car prices are so outrageous! But then America can't see that Greed will be the end of it if people don't start thinking about more than money,money,money!
The average UAW retiree retires at around 58-60 years old, the average pension for a UAW worker with 30 plus years is around $3,100 a month, when you reach age 65 and you get Social Security, Chrysler's Pension Fund goes down accordingly to what you receive from Social Security, you do not get to double dip like you do if your ex military, ex police, ex teacher ex fire fighter ex city worker ex alot of people that get Pensions, so if you get $1800 a month from Social Security, your Chrysler Pension will go down to around $1300 a month, you'll still be at around $3100 a month, wow rich, that's around $36,000 a year, nice but not wealthy unlike CEO's and Upper Management and Wall Street, keep arguing about chump change and why we receive what we do, those in charge are stealing this country blind and it's not our chump change that you should have a problem with, that we earned through hard work, but you only seem to have a problem with the working man not the man sitting behind a desk counting his millions or today, billions, NO you only have a problem with the regular guy trying to make ends meet, living paycheck to paycheck, what has become of this country and it's morals? Because you get a small Pension now you are considered Rich and Greedy? My God, the morals have changed, the Poor are fighting for more for the rich, WHY, you think the rich gives a fuck about You

Since: Jan 10

AOL

#17 Feb 6, 2010
WeaserGB wrote:
Profits to the company? What are you talking about?. The UAW is being hammered in most industies. Time for the big three to lay the Hammer down on the UAW. Chrysler will not be making cars within three years so I guess this issue goes away.
i don't know about ford or Gm but at Chrysler the average Pension for a Ex-Plant Manager is around on the low end about $10,000-$12,000 a month, the average for an Ex-Auto Worker in the UAW is around $3,100 a month after 30 Plus years, the average for a city worker in Michigan if you are "banking" your vacation weeks and gimmicks like that is around $8,000 a month for ex police chief or the head fire fighter, even if their base salary is around $80 grand a year, yet you only have a problem and only when the Pension Fund is down, not up and overfund mind you, but opportunistically on when it's down do you have a problem with the working man getting around $36,000 a year, wow

Since: Jan 10

AOL

#19 Feb 6, 2010
joe wrote:
could it be because of the high number of workers retiring because of buyouts
Could it be that the stock market has been mostly down the last 24-36 months, there is plenty of money to ride out the negative returns from the stock market, but opportunistic individuals that are anti labor want to confront this before the Pension Funds get OVERFUNDED, which they will when the stock market goes up once the economy improves, which it is
tom

AOL

#20 Feb 6, 2010
The Truth 1 wrote:
<quoted text> Could it be that the stock market has been mostly down the last 24-36 months, there is plenty of money to ride out the negative returns from the stock market, but opportunistic individuals that are anti labor want to confront this before the Pension Funds get OVERFUNDED, which they will when the stock market goes up once the economy improves, which it is
you don't understand, more people are retiring abnormally high because of these early buyouts then they would without them. The pension is dropping fast,thats why i'm not retiring untill i'm at least 62.
right

AOL

#21 Feb 6, 2010
its going to all ok! the UAW will take of the veba and everything will be ok! LMAO!

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