Railroad retirement | TigerDroppings.com
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SD90MAC
LSU Fan
Dequincy, la
Member since Jan 2013
103 posts

Railroad retirement

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.




StrangeBrew
LSU Fan
Salvation Army-Thanks Obama
Member since May 2009
14293 posts
Online

re: Railroad retirement
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).


SD90MAC
LSU Fan
Dequincy, la
Member since Jan 2013
103 posts

re: Railroad retirement
Company funded pension?


StrangeBrew
LSU Fan
Salvation Army-Thanks Obama
Member since May 2009
14293 posts
Online

re: Railroad retirement
Do you have a pension plan?


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Poodlebrain
LSU Fan
Way Right of Rex
Member since Jan 2004
17385 posts
Online

re: Railroad retirement
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


Crimsonsaint24
Alabama Fan
Alabama
Member since Jul 2011
552 posts

re: Railroad retirement
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


TheDiesel
LSU Fan
Houston via Baton Rouge
Member since Feb 2010
2505 posts

re: Railroad retirement
Off topic but your grammar is horrible.


Zach
LSU Fan
Member since May 2005
70153 posts

re: Railroad retirement
quote:

Off topic but your grammar is horrible.

He's a union worker. He don't need to speak no grammar.


SD90MAC
LSU Fan
Dequincy, la
Member since Jan 2013
103 posts

re: Railroad retirement
Lol


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SD90MAC
LSU Fan
Dequincy, la
Member since Jan 2013
103 posts

re: Railroad retirement
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?


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dome53
LSU Fan
Member since Apr 2009
1173 posts

re: Railroad retirement
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.


SD90MAC
LSU Fan
Dequincy, la
Member since Jan 2013
103 posts

re: Railroad retirement
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.


dome53
LSU Fan
Member since Apr 2009
1173 posts

re: Railroad retirement
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.


SD90MAC
LSU Fan
Dequincy, la
Member since Jan 2013
103 posts

re: Railroad retirement
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.



This post was edited on 3/24 at 8:06 pm


eazyeric23
LSU Fan
Member since Dec 2009
279 posts

re: Railroad retirement
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.


dome53
LSU Fan
Member since Apr 2009
1173 posts

re: Railroad retirement
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


SD90MAC
LSU Fan
Dequincy, la
Member since Jan 2013
103 posts

re: Railroad retirement
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.


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SD90MAC
LSU Fan
Dequincy, la
Member since Jan 2013
103 posts

re: Railroad retirement
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.


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Crimsonsaint24
Alabama Fan
Alabama
Member since Jul 2011
552 posts

re: Railroad retirement
I work in the mechanical department I will have 40 years when I retire if I live that long


SD90MAC
LSU Fan
Dequincy, la
Member since Jan 2013
103 posts

re: Railroad retirement
U.P.? What yard?


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