Alias Detective 1,179 Posted March 27, 2020 27 minutes ago, Old School said: My last day of work was March 12- they told us they were shutting down for 3 weeks and thankfully the company elected to kick in to ensure paychecks are not interrupted. My boss called today and we are now extending the closure thru April 24 and I will continue to be paid. I am very thankful to know I’ll have income coming in, at least for the next month. And you will get additional money from the a Federal a Government. Share this post Link to post Share on other sites
supermike80 1,287 Posted April 17, 2020 Wife furloughed. Getting her 360+600 from the feds for unemployment, which is actually very much OK Starting May 1st for me. 15% pay furlough. Told IF things improve the intention will be to refund it in December 2020. 401K match suspended. I guess it could be worse. Happy to have income. Share this post Link to post Share on other sites
Cloaca du jour 2,064 Posted April 17, 2020 Have income...wife does not...getting by...not spending hardly anything so its balancing out. Stimulus in bank for rainy day. Share this post Link to post Share on other sites
Big Blue 06 195 Posted April 17, 2020 My wife was a stay at home mom before this, so she is still working. I am still okay, been working at home for the last month. Our building furloughed a few people, but still doing okay; even if they shut down the location that I work, I am part of corporate and will still be fine. My dad got furloughed. He’s been in this industry for about 40 years or so; problem is he had been making a lot of money for the last 15 or so. While that’s good, as he is okay to be not working for awhile, it also made him a a target for furlough. Plus, he could retire at his age if he chooses to; he just likes to work. Share this post Link to post Share on other sites
Hardcore troubadour 12,660 Posted April 17, 2020 Once they did away with pensions and gave people the” far superior “ 401k etc you could see this coming. Let’s see how this shakes out. I’m guessing things will be changing for many. Share this post Link to post Share on other sites
supermike80 1,287 Posted April 25, 2020 Wife got her walking papers yesterday. 32 years with them. Shame Share this post Link to post Share on other sites
Hawkeye21 1,855 Posted April 25, 2020 9 minutes ago, supermike80 said: Wife got her walking papers yesterday. 32 years with them. Shame Sorry to hear. I just talked to someone a couple days ago who lost their job as well. They were in marketing. Share this post Link to post Share on other sites
bandrus1 413 Posted April 25, 2020 On 4/17/2020 at 11:20 AM, Hardcore troubadour said: Once they did away with pensions and gave people the” far superior “ 401k etc you could see this coming. Let’s see how this shakes out. I’m guessing things will be changing for many. I was able to choose between a NYS pension or a 401k style retirement. There was no way I was going to rely on the financial solvency of NYS for my financial future Share this post Link to post Share on other sites
supermike80 1,287 Posted April 25, 2020 6 minutes ago, Hawkeye21 said: Sorry to hear. I just talked to someone a couple days ago who lost their job as well. They were in marketing. Never know. Might be a blessing. But jobs are hard to come by until this virus is past. Share this post Link to post Share on other sites
wiffleball 4,646 Posted April 28, 2020 Just read that, due to crappy legislation, even folks who just had their hours cut back a little - get the ENTIRE 600 per week. Share this post Link to post Share on other sites
edjr 5,567 Posted April 28, 2020 On 4/17/2020 at 11:20 AM, Hardcore troubadour said: Once they did away with pensions and gave people the” far superior “ 401k etc you could see this coming. Let’s see how this shakes out. I’m guessing things will be changing for many. Pensions are why NY, CA, MA and other Lib run states are poor and begging Trump for money. The MBTA pension alone makes MA poor. Share this post Link to post Share on other sites
Alias Detective 1,179 Posted April 28, 2020 29 minutes ago, edjr said: Pensions are why NY, CA, MA and other Lib run states are poor and begging Trump for money. The MBTA pension alone makes MA poor. Some want to give every person a lifetime pension called basic income. Shocking. Share this post Link to post Share on other sites
edjr 5,567 Posted April 28, 2020 Just now, Alias Detective said: Some want to give every person a lifetime pension called basic income. Shocking. We are well on our way. Thanks chiner Share this post Link to post Share on other sites
supermike80 1,287 Posted April 28, 2020 3 hours ago, wiffleball said: Just read that, due to crappy legislation, even folks who just had their hours cut back a little - get the ENTIRE 600 per week. Yep....Got a friend that got a 20% cut..which of course SUCKS...But she is eligible somehow to file for underemployment. Share this post Link to post Share on other sites
bandrus1 413 Posted April 28, 2020 58 minutes ago, edjr said: Pensions are why NY, CA, MA and other Lib run states are poor and begging Trump for money. The MBTA pension alone makes MA poor. Why dont those states get back the equivalent what they pay in Federal taxes? Share this post Link to post Share on other sites
Hardcore troubadour 12,660 Posted April 28, 2020 1 hour ago, edjr said: Pensions are why NY, CA, MA and other Lib run states are poor and begging Trump for money. The MBTA pension alone makes MA poor. Sure. It’s not the Medicaid and welfare. It’s the pensions. Look at the shiny object over there, monkey. Share this post Link to post Share on other sites
edjr 5,567 Posted April 28, 2020 3 minutes ago, Hardcore troubadour said: Sure. It’s not the Medicaid and welfare. It’s the pensions. Look at the shiny object over there, monkey. One in 5 MBTA pensioners is younger than 50 as fund struggles https://www.bostonherald.com/2020/02/03/one-in-5-mbta-pensioners-is-younger-than-50-as-fund-struggles/ Share this post Link to post Share on other sites
Hardcore troubadour 12,660 Posted April 28, 2020 4 minutes ago, edjr said: One in 5 MBTA pensioners is younger than 50 as fund struggles https://www.bostonherald.com/2020/02/03/one-in-5-mbta-pensioners-is-younger-than-50-as-fund-struggles/ It struggles because the politicians don’t make the required payments to it and kick it down the road. My pension plan is one of the most well funded in the country. Those fockers have to pay on time. It serves them well too, when the funds that are invested do well they don’t have to pay or pay as much. Take it up with the brainiacs you got running things up there. Should have paid their bills. Share this post Link to post Share on other sites
Patriotsfatboy1 1,432 Posted April 28, 2020 9 minutes ago, edjr said: One in 5 MBTA pensioners is younger than 50 as fund struggles https://www.bostonherald.com/2020/02/03/one-in-5-mbta-pensioners-is-younger-than-50-as-fund-struggles/ So you pick one pension and that is taking the state down? Hmmm. https://www.nbcboston.com/news/local/massachusetts-year-end-surplus-again-tops-1-billion/91987/ Quote For the second consecutive year, Massachusetts has racked up a sizable year-end budget surplus. State Revenue Commissioner Christopher Harding says a preliminary accounting of the fiscal year that ended June 30 shows the state collected $29.7 billion in taxes, exceeding projections by more than $1 billion. Tax collections were up nearly 7% over the previous fiscal year, in which the state also finished with a $1 billion surplus. Share this post Link to post Share on other sites
edjr 5,567 Posted April 28, 2020 1 minute ago, Patriotsfatboy1 said: So you pick one pension and that is taking the state down? Hmmm. https://www.nbcboston.com/news/local/massachusetts-year-end-surplus-again-tops-1-billion/91987/ Yet they keep raising the price of the commuter rail to pay the pensions? I picked it, because it is what affects me. Share this post Link to post Share on other sites
Patriotsfatboy1 1,432 Posted April 28, 2020 Just now, edjr said: Yet they keep raising the price of the commuter rail to pay the pensions? The T is and has always been a symbol of mismanagement. The turnpike authority is the same way. The problem is not the pensions, it is the management at the top supporting cronyism and a lack of oversight at the state level. The pensions are not the problem, they are just a tool used by thieves to steal more money from taxpayers. Share this post Link to post Share on other sites
wiffleball 4,646 Posted April 28, 2020 12 minutes ago, edjr said: One in 5 MBTA pensioners is younger than 50 as fund struggles https://www.bostonherald.com/2020/02/03/one-in-5-mbta-pensioners-is-younger-than-50-as-fund-struggles/ Unions should have died decades ago. Served their purpose for a minute, but when the Feds stepped in with regulations and stuff, unions became irrelevant, corrupt and destructive. 1 Share this post Link to post Share on other sites
edjr 5,567 Posted April 28, 2020 Just now, Patriotsfatboy1 said: The T is and has always been a symbol of mismanagement. The turnpike authority is the same way. The problem is not the pensions, it is the management at the top supporting cronyism and a lack of oversight at the state level. The pensions are not the problem, they are just a tool used by thieves to steal more money from taxpayers. No doubt. The no show, high paying jobs, which MA is infamous for. Share this post Link to post Share on other sites
Alias Detective 1,179 Posted April 28, 2020 We pay public servants working income why do we need to fund their retirements too? Share this post Link to post Share on other sites
wiffleball 4,646 Posted April 28, 2020 6 minutes ago, Alias Detective said: We pay public servants working income why do we need to fund their retirements too? Duh, to attract The Best and Brightest! Share this post Link to post Share on other sites
Hardcore troubadour 12,660 Posted April 28, 2020 7 minutes ago, Alias Detective said: We pay public servants working income why do we need to fund their retirements too? You don’t. It can be changed at the bargaining table. Share this post Link to post Share on other sites
Alias Detective 1,179 Posted April 28, 2020 Just now, Hardcore troubadour said: You don’t. It can be changed at the bargaining table. My taxes don’t what? Share this post Link to post Share on other sites
Hardcore troubadour 12,660 Posted April 28, 2020 Just now, Alias Detective said: My taxes don’t what? You don’t have to. Your elected officials can sit down at the bargaining table and change things. At least for the new hires. Many places have Share this post Link to post Share on other sites
Alias Detective 1,179 Posted April 28, 2020 5 minutes ago, Hardcore troubadour said: You don’t have to. Your elected officials can sit down at the bargaining table and change things. At least for the new hires. Many places have True. Share this post Link to post Share on other sites
Strike 3,980 Posted April 28, 2020 1 hour ago, Hardcore troubadour said: It struggles because the politicians don’t make the required payments to it and kick it down the road. My pension plan is one of the most well funded in the country. Those fockers have to pay on time. It serves them well too, when the funds that are invested do well they don’t have to pay or pay as much. Take it up with the brainiacs you got running things up there. Should have paid their bills. I don't disagree with this partially. In CA, however, the Pension formula they use is way above what is considered the norm for pensions. The norm for pensions is 2% of salary times number of years of service. How you get to the "salary" portion can vary. Some companies use average of final three years, etc....but the basic formula is pretty standard. In CA they changed it from 2% to 3% under Gray Davis. It's one of the reasons he was recalled. But they never changed it back. They also allow you to use accrued vacation time as part of your final salary calculation such that it increases your pensions payouts for life. You've literally got people in CA on pensions making over 100% of their salary when they were working. And then, of course, many of them go back to work even while collecting their pension. I have a pension from a private company I worked at for 10 years. I can't collect until I turn 62, and if I choose to start collecting at 62 it's at a reduced rate. So don't act like all pensions are created equally. Share this post Link to post Share on other sites
Patriotsfatboy1 1,432 Posted April 28, 2020 2 minutes ago, Strike said: I don't disagree with this partially. In CA, however, the Pension formula they use is way above what is considered the norm for pensions. The norm for pensions is 2% of salary times number of years of service. How you get to the "salary" portion can vary. Some companies use average of final three years, etc....but the basic formula is pretty standard. In CA they changed it from 2% to 3% under Gray Davis. It's one of the reasons he was recalled. But they never changed it back. They also allow you to use accrued vacation time as part of your final salary calculation such that it increases your pensions payouts for life. You've literally got people in CA on pensions making over 100% of their salary when they were working. And then, of course, many of them go back to work even while collecting their pension. I have a pension from a private company I worked at for 10 years. I can't collect until I turn 62, and if I choose to start collecting at 62 it's at a reduced rate. So don't act like all pensions are created equally. In CA, they bend over employers for the benefits of employees. That happens for private entities in dealing with overtime, sick time and family leave. Running a profitable business in CA is real hard and the costs are through the roof. It all gets passed down to consumers. Share this post Link to post Share on other sites
Strike 3,980 Posted April 28, 2020 4 minutes ago, Patriotsfatboy1 said: In CA, they bend over employers for the benefits of employees. That happens for private entities in dealing with overtime, sick time and family leave. Running a profitable business in CA is real hard and the costs are through the roof. It all gets passed down to consumers. My post is specifically talking about the public unions in CA. They probably screw over private employers as well. CA has probably the worst business climate in the nation. But I'm not as well versed on that as I am the public union issue, which may ultimately bankrupt the state due to the unfunded liabilities. Not to mention the idiotic way CALPERS is structured. Share this post Link to post Share on other sites
Hardcore troubadour 12,660 Posted April 28, 2020 9 minutes ago, Strike said: I don't disagree with this partially. In CA, however, the Pension formula they use is way above what is considered the norm for pensions. The norm for pensions is 2% of salary times number of years of service. How you get to the "salary" portion can vary. Some companies use average of final three years, etc....but the basic formula is pretty standard. In CA they changed it from 2% to 3% under Gray Davis. It's one of the reasons he was recalled. But they never changed it back. They also allow you to use accrued vacation time as part of your final salary calculation such that it increases your pensions payouts for life. You've literally got people in CA on pensions making over 100% of their salary when they were working. And then, of course, many of them go back to work even while collecting their pension. I have a pension from a private company I worked at for 10 years. I can't collect until I turn 62, and if I choose to start collecting at 62 it's at a reduced rate. So don't act like all pensions are created equally. Ok, some of that is nuts, and I have a pension. That vacation thing is BS. We are capped about how much of our overtime and other pay can count towards your pension . Anything above 20% of your prior years salary is not pensionable. In the NYC Police Pension fund, which is its own fund, separate from other city/state workers, we also have to contribute towards it. Can be between 2.5 and 7.5 pct, depending on age and if you want to contribute more or less. Other pension systems don’t have to contribute. What that does is give us a seat at the table. We have a say in how our money is invested. Now usually the city gets its way, because the comptroller is often the decider. We are over 90% funded. Many years the city makes no or little payment if the investments do well. Sometimes they have to pay. Other pension plans are not in as good condition, but most plans in the city and state are ok. For now. A couple of bad years in the stock market and the state has to start paying and you’ll hear the yelling about pensions. Happens every time. Share this post Link to post Share on other sites
SUXBNME 1,340 Posted April 28, 2020 5 hours ago, wiffleball said: Just read that, due to crappy legislation, even folks who just had their hours cut back a little - get the ENTIRE 600 per week. I'm one of those folks. Share this post Link to post Share on other sites
TommyGavin 790 Posted May 4, 2020 On 4/28/2020 at 10:48 AM, SUXBNME said: I'm one of those folks. Lucky you Share this post Link to post Share on other sites
jerryskids 5,209 Posted May 4, 2020 I've got a Microsoft Teams interview tomorrow around lunch time. Local engineering firm, within 10 miles, and I can't go face to face? Anyway, it's exactly what I'm looking for. Owners (including guy tomorrow) know me, they know other local execs who refer me, the people at the company they rep refer me. As near as I can tell they have come up with this role solely because of my availability and interest, it is a perfect fit. I know a lot can go wrong in a COVID world, but man, if this doesn't come through, I'm thinking of either (1) Just burying my head in a bottle for a few months and collect my $600 until this ish passes by, or (2) resurrecting an old LLC and putting in for a PPP loan to pay myself and get it forgiven later. Hell, probably both. Wish me luck. 2 Share this post Link to post Share on other sites
Bier Meister 1,514 Posted May 4, 2020 Good luck Jerry Share this post Link to post Share on other sites
edjr 5,567 Posted May 4, 2020 We had an all hands on deck zoom call at 1 pm. Was 236 people connected. "Even when the office opens, we are planning on that being mid june. it is NOT mandatory to come into the office. Those of you with children and health issues, plan to work from home and not to come back to the office until September 2020. If you want to come into the office, will we allow a certain number of people into the office for the 1st couple of phases" Share this post Link to post Share on other sites
MDC 5,895 Posted May 4, 2020 18 minutes ago, jerryskids said: I've got a Microsoft Teams interview tomorrow around lunch time. Local engineering firm, within 10 miles, and I can't go face to face? Anyway, it's exactly what I'm looking for. Owners (including guy tomorrow) know me, they know other local execs who refer me, the people at the company they rep refer me. As near as I can tell they have come up with this role solely because of my availability and interest, it is a perfect fit. I know a lot can go wrong in a COVID world, but man, if this doesn't come through, I'm thinking of either (1) Just burying my head in a bottle for a few months and collect my $600 until this ish passes by, or (2) resurrecting an old LLC and putting in for a PPP loan to pay myself and get it forgiven later. Hell, probably both. Wish me luck. Best of luck to you. 8 minutes ago, edjr said: We had an all hands on deck zoom call at 1 pm. Was 236 people connected. "Even when the office opens, we are planning on that being mid june. it is NOT mandatory to come into the office. Those of you with children and health issues, plan to work from home and not to come back to the office until September 2020. If you want to come into the office, will we allow a certain number of people into the office for the 1st couple of phases" Seems reasonable and fair. Share this post Link to post Share on other sites
Bert 1,092 Posted May 4, 2020 1 hour ago, jerryskids said: I've got a Microsoft Teams interview tomorrow around lunch time. Local engineering firm, within 10 miles, and I can't go face to face? Anyway, it's exactly what I'm looking for. Owners (including guy tomorrow) know me, they know other local execs who refer me, the people at the company they rep refer me. As near as I can tell they have come up with this role solely because of my availability and interest, it is a perfect fit. I know a lot can go wrong in a COVID world, but man, if this doesn't come through, I'm thinking of either (1) Just burying my head in a bottle for a few months and collect my $600 until this ish passes by, or (2) resurrecting an old LLC and putting in for a PPP loan to pay myself and get it forgiven later. Hell, probably both. Wish me luck. Good luck! Share this post Link to post Share on other sites