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Started By
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Railroad retirement
Posted on 3/24/13 at 11:42 am
Posted on 3/24/13 at 11:42 am
Ive been working for union pacific railroad for 10 years. Im 30 years old. I got the 401k plan thru vanguard(which union pacific dont match at all, sucks). And i dont pay in to social security with the railroad retirement. Do i need an ira also?
Ive been payn in to 401k since 2005. 10% of my check every two weeks.
Ive been payn in to 401k since 2005. 10% of my check every two weeks.
5
Posted on 3/24/13 at 12:15 pm to SD90MAC
quote:
I got the 401k plan thru vanguard(which union pacific dont match at all, sucks).
But I am pretty sure you have a company funded pension(which does not suck).
Posted on 3/24/13 at 12:25 pm to StrangeBrew
Company funded pension?
Posted on 3/24/13 at 12:35 pm to SD90MAC
Do you have a pension plan?
Posted on 3/24/13 at 12:40 pm to SD90MAC
Provided you continuue to work for the railroad until your retire, you will get railraod retirement benefits instead of Social Security, which you do not participate in. Here is what the Railroad Retirement Board has to say when comparing railroad retirement benefits to Social Security benefits LINK
Posted on 3/24/13 at 12:56 pm to Poodlebrain
Union Pacific doesn't match your 401k up to a percentage? I work for Norfolk Southern I have been with them for 6 years they match up to 6 percent with my 401k through Vanguard
Posted on 3/24/13 at 2:12 pm to SD90MAC
Off topic but your grammar is horrible.
Posted on 3/24/13 at 2:23 pm to TheDiesel
quote:
Off topic but your grammar is horrible.
He's a union worker. He don't need to speak no grammar.
Posted on 3/24/13 at 2:38 pm to Zach
Lol
Posted on 3/24/13 at 2:45 pm to Crimsonsaint24
We are suppose to get the matching 401k in our next contract in 2015. But so far no matching for our 401k. Are you in utu or blet?
Posted on 3/24/13 at 5:29 pm to Crimsonsaint24
quote:
Union Pacific doesn't match your 401k up to a percentage? I work for Norfolk Southern I have been with them for 6 years they match up to 6 percent with my 401k through Vanguard
What do you do for NS? I've got a phone interview with them for a Transportation Management Trainee position Monday.
Posted on 3/24/13 at 6:36 pm to dome53
They want u to b a manager over transportation crews(conductors, engineers, brakeman). U will b non union and u will not pay into railroad retirement. Btw- transportation crews hate managers. Just a heads up.
Posted on 3/24/13 at 6:44 pm to SD90MAC
quote:
They want u to b a manager over transportation crews(conductors, engineers, brakeman). U will b non union and u will not pay into railroad retirement. Btw- transportation crews hate managers. Just a heads up.
According to some of the Class 1 websites I would still pay into the railroad retirement. And yeah I've also read that crews will hate me.
Posted on 3/24/13 at 8:03 pm to dome53
Well i know union pacific managers have a better retirement plan than te&y(train,engine and yard) employees. But there health care plan sucks.
My advice to u is try to get into the transportation side asap. Managers come and go on the rr. Bc if they make a mistake, the carrier(norfolk southern, union pacific) can fire them anytime they want. If i get fired i get my job back. Managers with u.p. have a average lifespan of five years.
Now on the other side, if u want a long carreer as a manager, u got to b the biggest a-hole on the rr. Write as many ppl up as u can, try to fire everybody. If ur a nice guy by nature, ur screwed.
So u can c why the train crews hate managers, they r always tryn to fire them.
My advice to u is try to get into the transportation side asap. Managers come and go on the rr. Bc if they make a mistake, the carrier(norfolk southern, union pacific) can fire them anytime they want. If i get fired i get my job back. Managers with u.p. have a average lifespan of five years.
Now on the other side, if u want a long carreer as a manager, u got to b the biggest a-hole on the rr. Write as many ppl up as u can, try to fire everybody. If ur a nice guy by nature, ur screwed.
So u can c why the train crews hate managers, they r always tryn to fire them.
This post was edited on 3/24/13 at 8:06 pm
Posted on 3/24/13 at 8:09 pm to SD90MAC
Buy some company stock! When you think you have bought too much, buy some more. UP is one of the best long term stocks out there. I am assuming you can get it at a discount.
Disclaimer: I own shares of UP.
Disclaimer: I own shares of UP.
Posted on 3/24/13 at 8:16 pm to SD90MAC
I've also heard that I have to be an a-hole
My Brother-in-Law has been a trainmaster for KCS for about 10 years and he doesn't seem like that much of an a-hole
My Brother-in-Law has been a trainmaster for KCS for about 10 years and he doesn't seem like that much of an a-hole
Posted on 3/24/13 at 8:57 pm to eazyeric23
Ive always heard that when oil prices go up, union pacifics stock goes up. I have sum $ n UP fixed income stock. But i need to buy sum more. Ill have to ask if we get discounts on stocks.
Posted on 3/24/13 at 9:04 pm to dome53
Go easy on ur yard crews. U can get all the write ups u want on the road crews.
I shouldnt b telln u this.
I shouldnt b telln u this.
Posted on 3/25/13 at 2:15 pm to dome53
I work in the mechanical department I will have 40 years when I retire if I live that long
Posted on 3/25/13 at 7:43 pm to Crimsonsaint24
U.P.? What yard?
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