Quote:
Originally Posted by Oerets
No matter how well funded a plan is US law allow the company to rob the funds and file bankruptcy. Then the Government will pickup the tab, http://www.pbgc.gov/ at a reduced rate of course.
""If that occurred, the federal insurance fund that protects the retirement benefits of more than 10 million Americans in multi-employer plans could collapse.""
Barney |
This happened to both of my older Brothers, a cousin, a brother in law and an ex-brother in law. Only two of them are smart enough to understand that the only reason he didn't lose everything was because of the PBGC (federal government.) and the reason they lost anything at all in the first place was the managerial incompetence of their former employers. The rest of them are dumbass Good ol' Boy conservatives who will tell you quick that it was that "......nigger in the Whitehouse that fucked me out of my full pension.".
Completely disregarding the fact that they otherwise would have lost it all.
(And God help you if you bring attention to the racial slur. You'll be handed the BS line that "nigger" isn't a race, it's the content of his character.
)
Dave