Heads up! Current retirees............

[BlueStreak]

http://www.msn.com/en-us/news/politi...f9?ocid=HPCDHP

The GOP is coming after your "entitlements".

Don't get violent, now.

Dave

[merrylander]

Fortunately they cannot touch mine. Funny thing is that my plan is fully funded, I wonder how Bell managed to do that? Guess they are just smarter and more honest than management down here. But then the few mahogany rows that I have observed since coming down here always made me think they were a few sandwiches shy of a picnic.

[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

[BlueStreak]

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

[whell]

Originally Posted by BlueStreak

http://www.msn.com/en-us/news/politi...f9?ocid=HPCDHP

The GOP is coming after your "entitlements".

Don't get violent, now.

Dave

Uh, Dave. I don't see "The GOP" mentioned anywhere in the article.

You do understand that government oversight/regulation of private sector pensions and is handled within the Department of Labor (an quagmire populated almost exclusively by those who lean to the left) by the PBGC. You also realize that any changes to regulations would require action in both houses of Congress (unless the Bamster has another Executive Order up his sleeve).

[Tom Joad]

Originally Posted by BlueStreak

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.".

I know.

I can't count how many idiots I've run into that wouldn't have a pot to piss in if it weren't for the government policies of FDR's New Deal and LBJ's Great Society yet they watch Fox news and buy into every right wing lie they spoon feed them.

[whell]

Originally Posted by merrylander

Fortunately they cannot touch mine. Funny thing is that my plan is fully funded, I wonder how Bell managed to do that? Guess they are just smarter and more honest than management down here. But then the few mahogany rows that I have observed since coming down here always made me think they were a few sandwiches shy of a picnic.

Your plan with Bell is not likely to be one of the plans that is covered in the report that is addressed in the article posted by Dave. The report refers exclusively to multi-employer plans. Those plans are typically - though not exclusively - maintained by (ahem) unions.

From the article:

Multi-employer plans are formed by businesses and unions that join forces to provide pension coverage for a wide range of working-class Americans from truck drivers to grocery store clerks and construction workers.

Their finances have suffered over the past decade in large part because of stock market plunges and a decline in employment and union membership, leaving the plans with a growing share of retirees to current workers.

Employees covered by the plan are part of a diminishing share of private-sector workers who are still covered by pensions that pay them a fixed percentage of their pay for the rest of their lives. The idea of allowing cuts to benefits now being paid to retirees is supported by some unions, even as it is adamantly opposed by others.

[Oerets]

I cold called union members during the last Senatorial election in KY. These were union members and still would get the ones who sounded like a FOX news feed on how the Republicans since St Ronny have only helped the workers. Most of these felt the union was not need in today's employment world. But then they are the same ones who call the hall whenever there is a problem with sick time or insurance.

Merrylander might be getting his from Canada!

Barney

[Oerets]

Originally Posted by BlueStreak

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

But I earned it! I will never get back what has been paid in!

Bet you hear this too! Funny when the finger is being pointed at those who you think are entitled three are pointing back at you.

[Tom Joad]

Originally Posted by Oerets

I will never get back what has been paid in!

I hear people say that about Social Security too.

All I can say is that they must be dumbasses that can't count past 10 without taking off their shoes.

I crunched my numbers and found that I'm going to get everything back I paid in in about 8.5 years. And that's counting the employer match.