The Union brothers Steve and Tim have both made good points. But certain facts can be deceptive:
Fact #1 PMA states that the avg. longshoreman makes $99k/year. They are quick to release this to the press – but what they do not say (according to their own annual report) is that a PORTION of longshoremen (roughly 56%) average 99k per year – not all longshoremen. The avg. of all (100%) of the longshoremen on the entire Coast is closer to 75-77K/yr
Fact #2 The Bank that administers the 401-k has merged with a German Bank and the manager of one of the Stock funds in our 401-k was bought out 2 1/2 years ago by another Wall St. management Co. This has not changed our 401-k in any material way. There are laws that protect the funds and they cannot be tampered with.
John Fisher 13384
