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Unregistered
Join Date: Aug 2000
Location: a wretched hive of scum and villainy
Posts: 55,652
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Rip-off union, mafia
About 13 years ago, I worked in the millwright union for about 6 months during the period after the refinery I worked for closed up, and before i got job at a different refinery.
During that 6 months I earned about $865 in the millwright's retirement annuity. It was such a small amount I never bothered to move it into a different account. In the past 13 years, that amount has grown to a whopping $932.16 That's an increase of $67, or an annual increase of just over 1/2%. I wonder which mafia boss is taking our interest? I can't believe that the people administering this account (which is huge BTW) are so inept and incompetent that 1/2% is the best they can do. Haven't these idiots ever heard of a bond or a money market account? How about a mutual fund? IIRC, the average mutual fund earns 10% a year, or 20 times as much as the millwright annuity. No, no one can be that stupid. Someone is ripping us off. Just one more reason why unions suck big time. Can you imagine some millwright who has worked for 40 years to build up his retirement and doesn't know any better, only to realize at retirement that he has earned 1/2% per year? Sad doesn't cover it, criminal does. My money will be yanked out of the millwright account and moved just as soon as I can process the paperwork. Then I will send a letter to my congressman telling him all about it. I'll also send a copy to the local news station. Someone else will have to step up and support the mafia. Unions don't take care of the workers, they rape them and steal their money! |
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04-21-2007, 06:18 PM
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i'm just a cook
Join Date: Apr 2006
Location: downtown vernon,central new york
Posts: 4,868
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this is not news, it's business as usual. someone needs to pay for the union guys manicures.
back when the unions were formed, it was to see that the rank and file got a fair shake from management, today it is all about keeping the union heads in the top bracket. just like politicians. i believe governor william j. lepetomaine said it best; " We've gotta protect our phoney baloney jobs, gentlemen! " |
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04-21-2007, 06:58 PM
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Registered
Join Date: Aug 2002
Location: MD
Posts: 5,733
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Do you know the annual fees? I bet there is a fee to transfer the $$ as well.
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04-21-2007, 07:50 PM
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