No. It’s a ponzi scheme. Current union retiree’s are seeing a problem because Hostess hasn’t payed into the pension fund for over a year. My buddy and his wife, who never worked for Hostess depend on Hostess’ payments to the union welfare trust for a portion of their monthly pension funding. Bad news for more than the 18,000 immediately affected, I’m afraid.
Watch Obama assume distressed pensions on our dime. We can all be “Obamatired!”
A Teamster retiree called into a local talk show a couple of days ago complaining that his pension is being cut due to the Hostess workers’ pension contributions no longer being paid for.