General Discussion

oldhippie

(3,249 posts)

49. Yup. Bummer is right ......

Tue Feb 26, 2013, 08:59 PM

Feb 2013

You would think that when you have an agreement with an employer that the terms would stick, but they don't.

I did my MBA programs back in the 80's when there was a lot of the corporate restructuring going on. We spent a lot of time in several different courses talking about the effects of restructuring and bankruptcies on pension plans. Probably the reason that defined benefit Plans went the way of the Dodo.

I have thanked my lucky stars that my pension is from the federal govt and not subject to the vagaries of corporate restructuring. But I also realize that Congress could completely change the terms of my pension at any time they choose.

Edit history

Please sign in to view edit histories.

Recommendations

0 members have recommended this reply (displayed in chronological order):

61 replies

= new reply since forum marked as read

Highlight:

I just finished my Federal taxes for 2012 ..... [View all] oldhippie Feb 2013 OP

Funny you should ask. Your pension must be better than mine. trof Feb 2013 #1

Yes, I am very happy with my pension .... oldhippie Feb 2013 #3

PBGC took over my pension when TWA folded. trof Feb 2013 #46

Yup. Bummer is right ...... oldhippie Feb 2013 #49

Well your pension must be extremely generous or you've done something marybourg Feb 2013 #2

Yes, I will admit to being happy with my pension ..... oldhippie Feb 2013 #5

Standard deduction, no credits. No carryover cap losses. marybourg Feb 2013 #9

Yes, turbotax does that oldhippie Feb 2013 #10

DINK (dual income, no kids) NMDemDist2 Feb 2013 #4

have you added your FICA and state taxes ... please do ...as the rich pay a very small portion srican69 Feb 2013 #6

No state taxes here in Texas, and for FICA .... oldhippie Feb 2013 #7

I work on a 1099 - so I pay 15% FICA straight off the bat and income taxes on top of that ... srican69 Feb 2013 #8

you should be able to deduct half of that hfojvt Feb 2013 #15

I used TaxACT for the first time since we can no longer afford to pay our CPA... OldDem2012 Feb 2013 #11

I only used a CPA twice, and fired him ...... oldhippie Feb 2013 #12

Post removed Post removed Feb 2013 #13

Why would you say that? oldhippie Feb 2013 #14

Because one way or another, the IRS is going to bend you over. Gorp Feb 2013 #17

A Jury Didn't Think It was Cool HangOnKids Feb 2013 #19

What? Why on earth was that post hidden? oldhippie Feb 2013 #20

I Just Commented On The Hidden Thread HangOnKids Feb 2013 #25

I know why. Alerter must be a Ron Obvious Award winner. valerief Feb 2013 #27

You're Paying Slightly More (Percentage-wise) than Mitt Romney Yavin4 Feb 2013 #16

you make over $100,000 a year for not working hfojvt Feb 2013 #18

It's more of a case of him having benefited from union membership ellisonz Feb 2013 #21

I was a member of the AFGE .... oldhippie Feb 2013 #24

Maybe it's because I already spent 40 years working in a .... oldhippie Feb 2013 #22

Don't worry - anybody using financial data on DU who is not homeless will inevitably be called rich dmallind Feb 2013 #26

if you are in the top 20% you are in the top 20% hfojvt Feb 2013 #43

I am not asking you to feel bad hfojvt Feb 2013 #39

OK. Thank you for your comments ...... oldhippie Feb 2013 #45

It is not for "not" working. Drahthaardogs Feb 2013 #33

is a labor Democrat supposed to be applauding the rich? hfojvt Feb 2013 #47

Why don't you join a union? Drahthaardogs Feb 2013 #51

then why doesn't everybody just join a union? hfojvt Feb 2013 #53

So your pension is good, but his Drahthaardogs Feb 2013 #54

I work for the government hfojvt Feb 2013 #55

Your story has inconsistencies. Drahthaardogs Feb 2013 #58

you make a lot of assumptions hfojvt Feb 2013 #60

crips, $100,000 a year RILib Feb 2013 #57

I plan to use TaxActOnline which I used last year. ananda Feb 2013 #23

Does anyone know if I should still file joint although my spouse passed in March 2012?.. Little Star Feb 2013 #28

I'm really sorry for your loss A Little Weird Feb 2013 #36

Thank You. I'll look at that link so thanks for that also. Little Star Feb 2013 #41

You might want to call up the IRS and ask them. truedelphi Feb 2013 #52

I looked at your link and found.... Little Star Mar 2013 #61

I haven't had to deal with that yet ..... oldhippie Feb 2013 #38

Thank You and I too hope you have a very long time before you ever have to deal with this. Little Star Feb 2013 #42

My pension is $4310.00 gross a month bigdarryl Feb 2013 #29

Do you usually get a small refund ... oldhippie Feb 2013 #40

Rejoice if you get to pay taxes! peace13 Feb 2013 #30

That's what my dad always said ..... oldhippie Feb 2013 #31

Say what? FreeJoe Feb 2013 #32

Deductions and exemptions are on the back of .... oldhippie Feb 2013 #35

Rates FreeJoe Feb 2013 #34

I guess that was a point I was trying to make ...... oldhippie Feb 2013 #37

15%? Mitt Romney pays 13.9%. JaneyVee Feb 2013 #44

I used TurboTax as well. Here are my numbers: W_HAMILTON Feb 2013 #48

Thanks oldhippie Feb 2013 #50

My numbers in your format FreeJoe Feb 2013 #56

Thank you for those numbers, and your comments .... oldhippie Feb 2013 #59