Amtrak workers claim $34.5M jackpot

[MrEd]

BEECH GROVE, Ind. (WANE) - A group of co-workers has won $34.5 million - the third largest jackpot in the Hoosier Lotto history. Each will get more than $1 million before taxes.
The men, who work at the Amtrak facility in Beech Grove, call themselves the Amtrak 15. They arrived at the Hoosier Lottery headquarters in Indianapolis by limo Monday afternoon to claim the prize from the Saturday, October 30 drawing.

..

Most of the men are machinists, but the group also includes an electrician, a pipefitter, and a supervisor. The youngest of the group is Lance Jessup who is 32. At 60, Jack Dorris is the oldest. Two of them are retirees who continue to play with their former co-workers.

story link

 

[dlagrua]

It looks like the refurbishment of Amtrak rolling stock will now slow down until they can get new people trained and productive. I'll bet that many of these guys will now retire, leave their jobs or just go out and celebrate. I would like to extend my sincerest congratulations for winning the big one and wish them all well.

 

[RRrich]

I heard that there are employment openings for skilled railroad machinists at Beech Grove.

Machinists, Apply NOW

 

[amamba]

It actually won't come out to that much money after taxes. If it is 15 people, and they split the jackpot of $34.5 million evenly, that is $2.3 million each. After taxes they will probably clear just about $1 million. That is certainly not enough for me to quit my job over.

 

[transit54]

It actually won't come out to that much money after taxes. If it is 15 people, and they split the jackpot of $34.5 million evenly, that is $2.3 million each. After taxes they will probably clear just about $1 million. That is certainly not enough for me to quit my job over.

Even less than that. They are going to take a lump sum of ~$16m, rather than have the $32m paid out over time. Each will receive about a million before taxes, and about half that after. In one of the articles I read, they said that none of them planned to leave their jobs.

 

[amamba]

It actually won't come out to that much money after taxes. If it is 15 people, and they split the jackpot of $34.5 million evenly, that is $2.3 million each. After taxes they will probably clear just about $1 million. That is certainly not enough for me to quit my job over.

Even less than that. They are going to take a lump sum of ~$16m, rather than have the $32m paid out over time. Each will receive about a million before taxes, and about half that after. In one of the articles I read, they said that none of them planned to leave their jobs.

Thanks, I should have read the article. They will clear about half of their winnings after taxes, so yes, about $500,000 each. It really makes NO sense to leave your job for such a small lottery payout. Hopefully they get some sound financial advice

 

[the_traveler]

Hopefully they get some sound financial advice

I invite them to come to "the_traveler, UCFA (Un Certified Financial Advisor)". I make a lot of sound!

Seriously, I agree. Many winners say "I'm going to quit my job" - and then a few years later file for bankruptcy!

I wish them the best of luck!

 

[Tony]

Thanks, I should have read the article. They will clear about half of their winnings after taxes, so yes, about $500,000 each. It really makes NO sense to leave your job for such a small lottery payout. Hopefully they get some sound financial advice

Especially after a winner buys a new Cadillac or Lexus for all their friends and family, buys a new house for themselves, and for each of their kids, either 4 years at an Ivory League College or a new house. That's what gets many lottery winners into bankruptcy. $34.5 million sounds like a lot until reality sets in.

 

[Hamhock]

Do they even have an option for a lottery winner to remain anonymous? The requests from deadbeat extended family and acquaintances would be relentless, I'm sure.

 

[Guest]

Do they even have an option for a lottery winner to remain anonymous? The requests from deadbeat extended family and acquaintances would be relentless, I'm sure.

I know in PA, they have to announce your name. Open government and "sunshine" laws demand it. I guess to squash even the hint that the governor's nephew might be the top winner.

IMHO, one should really get all those types of things handled before even thinking of claiming the prize. Change your number to unlisted, get a PO box, have a tax advisor on retainer, review personal/family safety, finalize your divorce, schedule vacation time from work, etc.

 

[Bob Dylan]

In Texas they also check for any student loans owed, default judgements,IRS holds,alimony and child support etc. Good advice if you are the one in ten million lucky winners to see a tax attorney, work with your financial institution re setting up a trust, :help: and most important pay your taxes owed!, :excl: lots of folks get in trouble this way! (not to mention old partners showing up with claims of paternity, promises made and not kept etc.) In Texas they also have to publish your name and town but not your address or phone # but the sharks have a way of getting those, might be a good idea to hop a LD train and take a traveler type trip around the country until things cool down!

 

[alanh]

As Dr. Evil discovered, ONE MIIILION DOLLARS just isn't what it used to be.

 

[the_traveler]

As Dr. Evil discovered, ONE MIIILION DOLLARS just isn't what it used to be.

That is very true!

I am not bragging, but on paper, I have a net worth of over $1,000,000 - yet I live paycheck to paycheck!

 

[jimhudson]

As Dr. Evil discovered, ONE MIIILION DOLLARS just isn't what it used to be.

That is very true!

I am not bragging, but on paper, I have a net worth of over $1,000,000 - yet I live paycheck to paycheck!

And you're still trying to beg/borrow or steal AGR points for Free trips? Guess you Yankees do really have Higher cost ofd Living up there in the Frozen Wastelands! :lol: :lol: :lol:

 

[BigRedEO]

Do they even have an option for a lottery winner to remain anonymous? The requests from deadbeat extended family and acquaintances would be relentless, I'm sure.

I know in PA, they have to announce your name. Open government and "sunshine" laws demand it. I guess to squash even the hint that the governor's nephew might be the top winner.

IMHO, one should really get all those types of things handled before even thinking of claiming the prize. Change your number to unlisted, get a PO box, have a tax advisor on retainer, review personal/family safety, finalize your divorce, schedule vacation time from work, etc.

You can remain anonymous. Set up a blind trust with an attorney. The ticket is then claimed under the trust's name, rather than your own name. Saves you a lot of taxes up front and allows you to remain anonymous.

 

[GG-1]

As Dr. Evil discovered, ONE MIIILION DOLLARS just isn't what it used to be.

That is very true!

I am not bragging, but on paper, I have a net worth of over $1,000,000 - yet I live paycheck to paycheck!

And you're still trying to beg/borrow or steal AGR points for Free trips? Guess you Yankees do really have Higher cost ofd Living up there in the Frozen Wastelands! :lol: :lol: :lol:

Aloha

Remember his penthouse, It must cost a few penny's for security, heating and cooling. :lol: :wub: :lol:

 

[the_traveler]

As Dr. Evil discovered, ONE MIIILION DOLLARS just isn't what it used to be.

That is very true!

I am not bragging, but on paper, I have a net worth of over $1,000,000 - yet I live paycheck to paycheck!

And you're still trying to beg/borrow or steal AGR points for Free trips? Guess you Yankees do really have Higher cost ofd Living up there in the Frozen Wastelands! :lol: :lol: :lol:

Aloha

Remember his penthouse, It must cost a few penny's for security, heating and cooling. :lol: :wub: :lol:

I even try to save money by getting special Government deals on supplies. I even bought a screwdriver for the unbelievable low discount price of only $43,938.27 - not bad, huh?

 

[Guest]

You can remain anonymous. Set up a blind trust with an attorney. The ticket is then claimed under the trust's name, rather than your own name. Saves you a lot of taxes up front and allows you to remain anonymous.

What I get from the rules, the winner would still be publicly identified. Here is the relevant part of the rules...

If the prize is claimed in the name of a legal entity, the name and other relevant information of the entity and its partners, shareholder and beneficiaries will be released.

 

[Guest]

I even try to save money by getting special Government deals on supplies. I even bought a screwdriver for the unbelievable low discount price of only $43,938.27 - not bad, huh?

That is what happens when someone tries to steer a bid to a specific vendor, and that vendor doesn't bit. For example, spec'ing that the handle of the screwdriver needs to be a very specific shade of yellow. Yea, you want DeWalt to supply the screwdriver, but if they don't, the actual winner needs to custom make the screwdriver and that costs big $$$$. Of course, the color of the handle is really irrelevant to its prime usage.

 

[alanh]

You can remain anonymous. Set up a blind trust with an attorney. The ticket is then claimed under the trust's name, rather than your own name. Saves you a lot of taxes up front and allows you to remain anonymous.

What I get from the rules, the winner would still be publicly identified. Here is the relevant part of the rules...

If the prize is claimed in the name of a legal entity, the name and other relevant information of the entity and its partners, shareholder and beneficiaries will be released.

Right. Generally it's an anti-insider provision, so you can see if the lottery director's son-in-law won.

 

[Bierboy]

As Dr. Evil discovered, ONE MIIILION DOLLARS just isn't what it used to be.

 

[BigRedEO]

You can remain anonymous. Set up a blind trust with an attorney. The ticket is then claimed under the trust's name, rather than your own name. Saves you a lot of taxes up front and allows you to remain anonymous.

What I get from the rules, the winner would still be publicly identified. Here is the relevant part of the rules...

If the prize is claimed in the name of a legal entity, the name and other relevant information of the entity and its partners, shareholder and beneficiaries will be released.

Right. Generally it's an anti-insider provision, so you can see if the lottery director's son-in-law won.

That may be the rules in Indiana, but most states allow blind trusts in order to protect those who wish to keep their new-found riches anonymous. I know if I won, I'd have a trust claim it!