Recruiting Football Talk VIII

#119,102
#119,102
MoCo_Vol said:
Most pension plans have age restrictions, he CAN draw it now, but wouldn't get the full yearly amount.

I work for the gubment and my pension is structured to be a very small percentage if drawn on before retirement age. Even if left to my wife she would also incur a massive penalty to draw it early. I also don't think you can just name an ex-spouse as a beneficiary. If my wife and I divorced it would 100% default to my child.

Yeah just looked into this... it is a bit of an interesting loophole and lots of folks take advantage.

Source: Pat Summitt's will leaves 'personal property' to Tyler Summitt



Also did more digging, it appears that Tyler can only get 50% of the benefits until his death. Which is still no small amount.
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Thanks for this post. I am glad you have a pension, I am sure you worked hard for it too. I have a 401k but its nothing like whats mentioned here, am still thankful to have anything with SS in peril. The article doesnt state so I wonder if $173k a year is the benefit or what he actually receives? Either way its a bunch so he has little to worry about. Very few jobs have a pension anymore it seems, if you don't work for the government or a union job like UAW, Teamsters etc they are hard to find. I didnt know that they would pay a benefit like that to a child of the earner.
 
#119,103
#119,103
marcusluvsvols said:
Thanks for this post. I am glad you have a pension, I am sure you worked hard for it too. I have a 401k but its nothing like whats mentioned here, am still thankful to have anything with SS in peril. The article doesnt state so I wonder if $173k a year is the benefit or what he actually receives? Either way its a bunch so he has little to worry about. Very few jobs have a pension anymore it seems, if you don't work for the government or a union job like UAW, Teamsters etc they are hard to find. I didnt know that they would pay a benefit like that to a child of the earner.
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Yeah, I had to dig... it's a weird pension that is setup to really setup beneficiaries better than most (mine included). And with coaches that are making millions per year it inflates to some absurd payouts. So I get why most folks paying taxes in this state get annoyed by it.

Cause $86.5k a year until his death is a big chunk...if he reaches retirement age (when most folks would be eligible to even start withdrawing) he'll have already received over 2.5 million from her pension...sadly my kid won't see that kind of money LOL
 
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#119,104
#119,104
HoleInTheRoof said:


👀👀👀👀
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Means i will have to pull for the Raiders. I love Hendon Hooker man. Dude had an amazing season, arguably the best ever by a UT QB...AND published a Christian book for children? If I recall correctly he had 37TDs against only 3INT and rushed for 5TDs as well. Thats an AMAZING Season in the SEC with our games vs Flarda, Bama, and the pups? He beat 2 out of 3. Most prolific offense in Tennessee history on his watch.

I really want Goff to go away and Hooker to take over the Lions job though. Thats the better team all around.
 
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#119,110
#119,110
MoCo_Vol said:
Yeah, I had to dig... it's a weird pension that is setup to really setup beneficiaries better than most (mine included). And with coaches that are making millions per year it inflates to some absurd payouts. So I get why most folks paying taxes in this state get annoyed by it.

Cause $86.5k a year until his death is a big chunk...if he reaches retirement age (when most folks would be eligible to even start withdrawing) he'll have already received over 2.5 million from her pension...sadly my kid won't see that kind of money LOL
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Congrats on having one at all brother. Happy for you and I am sure it will be a big help to your kid one day. I appreciate your quick and detailed posts that frequently have statistics across several players, seasons, etc. I come here daily for close to a decade now and my primary reason is to learn. Learn about the teams and players from UT etc in the politics forum we discuss all the relevant current events and trends. I dont watch TV news..or network TV except sports...and I am not on typical S.M.sites like bookface or IG. I get a decent chunk of knowledge from VN as well as a chance to exchange thoughts and ideas with mostly likeminded individuals. Freak is definitely the real MVP of Tennessee fans for giving us this site to keep up with UT and eachother. I have a couple friends in real life now from hanging out with them on VN and they are good people. I am thankful to you guys for all the info you post here, especially links to articles or X posts etc. Appreciate the effort.
 
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#119,111
#119,111
marcusluvsvols said:
I got no hate for Tyler Summitt ...dont know the guy. I will say this though: his dad is a very successful (rich) banking executive, Pat made millions at UT and was said to be thrifty which she apparently left all to her only child...Tyler. he retired after working a couple years as a coach in his early 20s...

But I am flabbergasted that Pat was allowed to name her early 20s aged son as the beneficiary of her Tennessee state employees pension instead of her 60? Year old ex husband....so Tennessees pension plan is on the hook to pay Tyler $173,000 a YEAR for the rest of his life?!?! For likely 50 years or maybe even more? He may draw $10,000,000 off a pension his mommy earned? Thats like winning the powerball lottery. $250k a year for life OR X million dollars...

Thats insane. They need to close that loophole. Why would everyone NOT name their kid instead of a spouse? You would be a fool to name your husband or wife that is likely to die 20 or 30 years earlier. Never heard of that before. Thats crazy. Tyler is a trust fund baby. Lmao. I hope that with Pats dementia she never knew about Tyler knocking up his point guard while married to his childhood sweetheart. That would have hurt and shamed her.
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Why, oh why, couldn't I be born to a highly successful coach.
 
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#119,115
#119,115
MarcoVol said:
I’ve done dumb things in life for sure! Sleeping with your own player gotta be one of the dumbest mf’n things you can do.

Wonder if the name was different and you looked at just the facts how Vol fans would judge this situation:

- named HC bc of who mom was
- cheats on wife with player
- lives off mom’s pension

Feel like if this was a Bama story some of yans wouldn’t be so forgiving.
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Yea, that's some pretty 'bone-headed' decision making and makes me think Tyler was working through some things (loss of his mom?). Personally, when I taught at the college level, I was very careful about not crossing boundaries (and many presented themselves). Oh teacher, is there any way I could get a better grade?
 
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#119,116
#119,116
MoCo_Vol said:
Most pension plans have age restrictions, he CAN draw it now, but wouldn't get the full yearly amount.

I work for the gubment and my pension is structured to be a very small percentage if drawn on before retirement age. Even if left to my wife she would also incur a massive penalty to draw it early. I also don't think you can just name an ex-spouse as a beneficiary. If my wife and I divorced it would 100% default to my child.

Yeah just looked into this... it is a bit of an interesting loophole and lots of folks take advantage.

Source: Pat Summitt's will leaves 'personal property' to Tyler Summitt



Also did more digging, it appears that Tyler can only get 50% of the benefits until his death. Which is still no small amount.
Click to expand...
Pensions/defined-benefit plans are so complex, why most dropped them. The actuarial business is wild and managing it for thousands of people is...not ideal.

But tbf if you pass, your 401(k) can go to anyone too. Won't be as much ofc.

50% makes some sense though. In 20 years the same dollar will be worth half or less, based just on the fed target inflation rates (no more covid inflation please 🤣).
 
#119,118
#119,118
RandomUTfan said:
You demonstrated clearly to me you do not and I explained why you are wrong. Absolutely anyone can read it and make their own mind up.
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Look I'm not getting into a pissing contest with you. It's clear you don't have a clue wtf ur talking about. And yes, anyone is more than welcomed to read my post and form their opinion. And if it's anyone who knows their stuff, clearly you are in the minority, then I'm confident they will agree with me. I mean you are arguing against facts. It's not my opinion. But again, I've proven my point and you have proven your lack of knowledge in relation to modern college football. Maybe you should stay off this forum and start researching a little more before you try and call someone out, because I can assure you I'm not the one. But like I said, I'm not one who gets on here and argues like a schoolgirl about who's right and who's wrong. I'm not wasting my time or anyone else's on someone of your elementary education. So carry on "Big College Football Guru." LMFAO!!!
 
#119,123
#119,123
DD4ME said:
He lead our best unit in 2024 and largely was the catalyst for our making a playoff. It is better than meh.
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I’m not a Banks hater, but there were times when we looked totally lost on defense. When we had to go to zone it was atrocious and has been all 4 years. Maybe that was lack of athleticism, football iq and instincts on the players part? Much like Ellarbe, we will know in a couple of years.
 
#119,124
#119,124
Can someone give me a TLDR of wtf happened in the Gabriel Osenda thread that made KingVFL decide to take a break from here? I don't really want to try and dive through all the comments in there...seems like a hazardous waste zone lol
 
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