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#1441325 --- 03/24/14 05:19 PM Re: ARROGANT TEACHERS [Re: Formermac]
bluezone Offline
Diamond Member

Registered: 12/19/04
Posts: 32557
Loc: USA
Originally Posted By: Formermac
Originally Posted By: bluezone
Originally Posted By: Formermac
tell me that in time past that you didn't have the opportunity to invest in pre-taxed IRA’s ,401K savings plans, Roth accounts , all are pre-taxed deductions to name a few. All those mentioned are beneficial in minimizing your tax liabilities as well as the Employer's.

the employee is the one that has to put up to funds to maintain those accounts

if you pay your employee $50k per year and the employee has to fund his own retirement at $1666 per month then the employee only has $50,000 - $20,000 = $30,000 to spend that year on their lifestyle

the 'teacher' gets to keep the $50,000 to spend on their lifestyle

so tell us who is underpaid?
your employee at $30,000 per year
or the 'teacher' at $50,000 per year?


Your equation table is very *** up first of all blush . Suppose realistically none of my employees are making $50,000 annually being that they're only apprentices & journeymen, look the prevailing salaries up on that, secondly if any of us were able to invest $1666.00 a month toward our retirement, we would have approximately 200.000 grand in 10 years not to mention the rate of return added to it. Personally I would have grab that potential 30 years ago. It's obvious that you see the need to bloviate and inflate numbers to meet you convoluted and demented mind.


formermac are you putting away $20,000 each year into your 401k?

you are for each of the 'teachers'

LOL
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#1441327 --- 03/24/14 05:27 PM Re: ARROGANT TEACHERS [Re: Formermac]
bluezone Offline
Diamond Member

Registered: 12/19/04
Posts: 32557
Loc: USA
Originally Posted By: Formermac
Now to your question, can I live off $278,000 for the rest of my life? yep! if I live only 3 more years.


278,000 / 3 = 92,666.66

92,666.66 x 30 years = $2,780,000

formermac do you have $2.8 million for your retirement?
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#1441330 --- 03/24/14 05:42 PM Re: ARROGANT TEACHERS [Re: tubby]
bluezone Offline
Diamond Member

Registered: 12/19/04
Posts: 32557
Loc: USA
Originally Posted By: tubby
www.seethroughny.net Easy math even for you. Teacher retires at 55 years old. Ten years ago no contribution now 3% from the teacher to their pension plan. Lives another 30 years at 80% of their salary as pension typically about $60,000 a year = $1,800,0000. With zero or 3% contribution a teacher has $1,800,000 for retirement how does your 401k plan compare to that ?


that is just the pension
do not forget to add in the full healthcare for life also
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#1441341 --- 03/24/14 06:17 PM Re: ARROGANT TEACHERS [Re: tubby]
twocats Offline
Silver Member

Registered: 02/09/10
Posts: 11904
Loc: NYS
Originally Posted By: tubby
www.seethroughny.net Easy math even for you. Teacher retires at 55 years old. Ten years ago no contribution now 3% from the teacher to their pension plan. Lives another 30 years at 80% of their salary as pension typically about $60,000 a year = $1,800,0000. With zero or 3% contribution a teacher has $1,800,000 for retirement how does your 401k plan compare to that ?


Not new employees.

Tier 6
Your pension factor equals either: a) 1.67% per year if you have less than 20 years of service, or b) 1.75% per year for all service if credited with 20 years. Under Tier 6, you would receive 35% plus 2% per year beyond 20 years if credited with more than 20 years of service.

If you retire prior to age 63, you will receive a reduced benefit (without exception).
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#1441345 --- 03/24/14 06:58 PM Re: ARROGANT TEACHERS [Re: twocats]
tubby Offline
Senior Member

Registered: 03/12/08
Posts: 1341
Loc: N.Y.
New teachers or ones that started twenty years ago still have better retirement benefits than any non government worker.

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#1441349 --- 03/24/14 07:26 PM Re: ARROGANT TEACHERS [Re: tubby]
Formermac Offline
Silver Member

Registered: 10/22/12
Posts: 13100
Loc: Above ground
Originally Posted By: tubby
www.seethroughny.net Easy math even for you. Teacher retires at 55 years old. Ten years ago no contribution now 3% from the teacher to their pension plan. Lives another 30 years at 80% of their salary as pension typically about $60,000 a year = $1,800,0000. With zero or 3% contribution a teacher has $1,800,000 for retirement how does your 401k plan compare to that ?


News flash "Tubby boy" when it comes to math I've forgotten more than you know and that's a fact. Electricians must have a very strong background in that regard. Now I'll tell you how ludicrous your equation sound in regard to me. I worked 35 plus years and contributed 8% of my base salary but on top of that LeChase contributed matching funds up to 8%, One problem though, many companies don't keep cash based deposit anymore but more so, they utilize investment based 401K. factoring in the shaky market Mr. Bush created in the early 2000s, many of my peers lost 100 of thousands. thus your across the board standard calculations looks good only on paper.

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#1441380 --- 03/24/14 09:01 PM Re: ARROGANT TEACHERS [Re: Timbo]
twocats Offline
Silver Member

Registered: 02/09/10
Posts: 11904
Loc: NYS
You can't convince tubby.

I'd rather have 60% of $100,000 than 80% of $60,000, but, hey, that's just me.

I'll never make it to 80% anyway unless I work until I'm 80. I became a teacher later in life than most.
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#1441382 --- 03/24/14 09:11 PM Re: ARROGANT TEACHERS [Re: tubby]
Timbo Offline
Silver Member

Registered: 07/18/12
Posts: 14391
Loc: CNY
Originally Posted By: tubby
New teachers or ones that started twenty years ago still have better retirement benefits than any non government worker.

Nonsense. Not even CLOSE.

http://work.chron.com/much-rookie-merchant-marine-make-24699.html
http://www.ehow.com/list_6729478_benefits-merchant-marines.html

After 1988 Merchant Mariners became entitled to the same as any veteran's benefits.

Most blue water mariners work six months on and six months off.

As for pay... How does up to $1000 an hour sound to you?
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#1441397 --- 03/25/14 06:40 AM Re: ARROGANT TEACHERS [Re: bluezone]
Sketch Offline
Senior Member

Registered: 03/07/12
Posts: 668
Loc: NYS
<!-- -->
Originally Posted By: bluezone
Originally Posted By: Formermac
BTW,Yes I am an awesome employer.


when you give your employees 12 months pay for 6 months of work, 5 day work weeks, full healthcare(vision, dental, health) for life, a full pension at age 55, and you can never terminate them even if they fail to perform


Wha? Huh?


Edited by Sketch (03/25/14 06:40 AM)
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#1441398 --- 03/25/14 07:15 AM Re: ARROGANT TEACHERS [Re: bluezone]
Formermac Offline
Silver Member

Registered: 10/22/12
Posts: 13100
Loc: Above ground
Originally Posted By: bluezone
Originally Posted By: Formermac
401K along with health benefits, 1 weeks vacation after a year of employment.

Originally Posted By: Formermac
I give my employees a pension plan


a 401k is not a pension


Correct, it's a savings plan, somewhere also I've mentioned a pension plan along with a week's vacation after one year of employment. Somewhere in this process, you've managed to convolute all your supposed intelligent questions and construe me as giving free benefits and early vacation time,$50,000 annual salaries along with offering $1666.00 a month toward some else's pension. Sit back and get your thought together before making yourself out of a bigger fool than you've already displayed.

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#1441399 --- 03/25/14 07:16 AM Re: ARROGANT TEACHERS [Re: Timbo]
bluezone Offline
Diamond Member

Registered: 12/19/04
Posts: 32557
Loc: USA
Originally Posted By: Timbo
Originally Posted By: tubby
New teachers or ones that started twenty years ago still have better retirement benefits than any non government worker.

Nonsense. Not even CLOSE.

After 1988 Merchant Mariners became entitled to the same as any veteran's benefits.



you could ONLY provide one example?
eliminate the pensions for the 'teachers'
use the money for the students
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#1441400 --- 03/25/14 07:19 AM Re: ARROGANT TEACHERS [Re: Formermac]
bluezone Offline
Diamond Member

Registered: 12/19/04
Posts: 32557
Loc: USA
Originally Posted By: Formermac
Originally Posted By: bluezone
Originally Posted By: Formermac
401K along with health benefits, 1 weeks vacation after a year of employment.
Originally Posted By: Formermac
I give my employees a pension plan
a 401k is not a pension
Correct, it's a savings plan, somewhere also I've mentioned a pension plan along with a week's vacation after one year of employment.
you mentioned a 401k.
so do you offer a PENSION or a 401k to your employees?

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#1441401 --- 03/25/14 07:27 AM Re: ARROGANT TEACHERS [Re: Formermac]
bluezone Offline
Diamond Member

Registered: 12/19/04
Posts: 32557
Loc: USA
Originally Posted By: Formermac
News flash "Tubby boy" when it comes to math I've forgotten more than you know and that's a fact. Electricians must have a very strong background in that regard.

is that why you could not do simple interest?
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#1441402 --- 03/25/14 07:31 AM Re: ARROGANT TEACHERS [Re: bluezone]
Formermac Offline
Silver Member

Registered: 10/22/12
Posts: 13100
Loc: Above ground
Originally Posted By: bluezone
Originally Posted By: Formermac
Originally Posted By: bluezone
Originally Posted By: Formermac
401K along with health benefits, 1 weeks vacation after a year of employment.

Originally Posted By: Formermac
I give my employees a pension plan


a 401k is not a pension


Correct, it's a savings plan, somewhere also I've mentioned a pension plan along with a week's vacation after one year of employment.


you mentioned a 401k.

so do you offer a PENSION or a 401k to your employees?



Seeing that I've mentioned several postings back, I can attain zero tax liability by offering my employees 401K, pension plans as well as healthcare, all being write off for my company as well as pre-tax benefits for employee, now this where your ignorance prevail by offering your own suppositions, how much does my employees contribute toward any of the benefits I've mentioned (as you've suppose) I do not give out free benefits. Your $1666 a month equation must have originated out of your toosh, along with other suppositions.

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#1441403 --- 03/25/14 07:32 AM Re: ARROGANT TEACHERS [Re: Formermac]
bluezone Offline
Diamond Member

Registered: 12/19/04
Posts: 32557
Loc: USA
Originally Posted By: Formermac
I worked 35 plus years and contributed 8% of my base salary but on top of that LeChase contributed matching funds up to 8%, One problem though, many companies don't keep cash based deposit anymore but more so, they utilize investment based 401K.


translation
companies DO NOT offer pension plans they make their employees pay into a 401k
meaning the employee has less take home pay

the 'teachers' earn more
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#1441404 --- 03/25/14 07:34 AM Re: ARROGANT TEACHERS [Re: Formermac]
bluezone Offline
Diamond Member

Registered: 12/19/04
Posts: 32557
Loc: USA
Originally Posted By: Formermac
Originally Posted By: bluezone
Originally Posted By: Formermac
Originally Posted By: bluezone
Originally Posted By: Formermac
401K along with health benefits, 1 weeks vacation after a year of employment.
Originally Posted By: Formermac
I give my employees a pension plan
a 401k is not a pension

Correct, it's a savings plan, somewhere also I've mentioned a pension plan along with a week's vacation after one year of employment.

you mentioned a 401k.
so do you offer a PENSION or a 401k to your employees?

Seeing that I've mentioned several postings back, I can attain zero tax liability by offering my employees 401K, pension plans

do you offer your employees a pension or a 401k?

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#1441406 --- 03/25/14 07:41 AM Re: ARROGANT TEACHERS [Re: Formermac]
bluezone Offline
Diamond Member

Registered: 12/19/04
Posts: 32557
Loc: USA
Originally Posted By: Formermac
I worked 35 plus years and contributed 8% of my base salary but on top of that LeChase contributed matching funds up to 8%,

and if you were a 'teacher' you could have retired after 30 years and had a full pension and full healthcare

you also had to contribute 8% which means your take home pay was 8% less than a 'teachers' take home pay and the 'teacher' still gets a full pension

did Lechase give you full healthcare after 35 years of service? NO

which means your take home pay is even less because you also have to pay for your healthcare along with your 401k

the 'teachers' make more


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#1441407 --- 03/25/14 07:44 AM Re: ARROGANT TEACHERS [Re: bluezone]
Formermac Offline
Silver Member

Registered: 10/22/12
Posts: 13100
Loc: Above ground
Originally Posted By: bluezone
Originally Posted By: Formermac
News flash "Tubby boy" when it comes to math I've forgotten more than you know and that's a fact. Electricians must have a very strong background in that regard.

is that why you could not do simple interest?


Ever hear of a IPAD Blue? It's has this amazing app which can calculate my voltages if I utilize transformers, diodes, resisters etc. One of my more simple apps can calculate mortgage interest, amortization schedules and car loans but there's a methodical madness factored into these calculations, you must input a given dollar amount times a interest rate times amount of years, now to add to your supposed intelligence, are those amount calculated based on compound interest such as daily, once a year, twice a year? What type of investment Blue? CD's Mutual Funds? all this will determine a set interest rate. All you're doing is unilaterally pulling numbers out of your arse and expect posters to read a mind that is definitely "cross wired" for lack of a better term.

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#1441408 --- 03/25/14 07:48 AM Re: ARROGANT TEACHERS [Re: twocats]
bluezone Offline
Diamond Member

Registered: 12/19/04
Posts: 32557
Loc: USA
Originally Posted By: twocats
You can't convince tubby.

I'd rather have 60% of $100,000 than 80% of $60,000, but, hey, that's just me.

you sound greedy to us - that is all taxpayer money

pay into your own 401k and eliminate the pensions
the money should go to the students

there are no companies in this area that offer a pension
the only one you mentioned was ITT and it is not as generous as yours
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#1441409 --- 03/25/14 07:52 AM Re: ARROGANT TEACHERS [Re: Formermac]
bluezone Offline
Diamond Member

Registered: 12/19/04
Posts: 32557
Loc: USA
Originally Posted By: Formermac
One of my more simple apps can calculate mortgage interest, amortization schedules and car loans


try an investment calculator app
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