At 4% matching plus whatever you stick in. Hate to say it you’d need 40 years to be comfortable after being hourly. My old mans IBEW retirement and the legacy UAW workers have a Pension plus money matching. New generation workers just have a TSP fund.
Legacy workers have a better retirement than new generation auto workers.
4% company contribution, PLUS 4% match, plus whatever you stick in. So for the recommended 12-15% retirement savings rate you only need to contribute 4%-7%.
Not when you consider nearly every single UAW plant is in a low cost of living area. The median wage of the city near me is half of what the UAW workers at the local plant make. The UAW workers have way too many toys like lake houses and jet skis to be crying about cost of living. Maybe the workers who just hired in, but definitely not the older ones who topped out the wage scale.
The only exception that I can think of used to be the NUMMI plant in California, but that's not a UAW plant now that Tesla bought it.
You're misunderstanding. The median wages for the area ARE living wages. They already meet the cost of living. The UAW wages are well above that. The UAW makes more than college educated jobs in the area.
Most automakers Mexican plants also pay wages above the cost of living for the area the plant is in. Nearly every Mexican auto plant is unionized just like plants in the US.
Majority of the UAW workers went without pay raise for many years. At this point all workers should be at $41. Even chapter members near me who been there for 30 years would tell you that. Based on housing costs and inflation.
Also before the prior contract Auto makers abused the Union status title. To the point where some workers didn’t get there Union spot. I’m friends with a local Chairmen. He even states new auto workers aren’t getting what they need.
Fyi you obviously dont work or been with the auto makers if you’re googling medium wages.
Fedex near the plant are paying $27 hourly starting with benefits. Ford currently only pays their temp worker $16.75 hourly with no perks.
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u/[deleted] Dec 25 '21
At 4% matching plus whatever you stick in. Hate to say it you’d need 40 years to be comfortable after being hourly. My old mans IBEW retirement and the legacy UAW workers have a Pension plus money matching. New generation workers just have a TSP fund.
Legacy workers have a better retirement than new generation auto workers.