"I Guess It's Food Stamps": 400,000 Jeopardized As Giant State Pension Fund Plans 50% Benefit Cuts

Zero Hedge ^ | 02/19/2016 | Tyler Durden

[editor-surveyor]

.
Oh! - Good call!

[Rusty0604]

Well I guess it beats teaching in Compton. Sound like you are a good teacher that cares about the kids.

[gogeo]

According to standard Liberal economic theory you SHOULD retire at 51, because that is creating a job for some young person.

Then you'll have time to be an artist, etc...

[Hoodat]

These same liberals have told me that the reason less people are working today is because so many baby boomers are retiring. As if the jobs retire with them.

[St_Thomas_Aquinas]

"I'm working until I croak. It's not the worst thing. I just hope I can do it."

Do what? Work, or croak?

Work 8-) I guess I didn't make that clear.

The thing is, if I go first, my wife is going to have a tough time. She'll have to depend on the kids.

Good times ahead. Thanks uniparty!

[KC Burke]

As has been mentioned before, there was a thirty year period where the Teamsters Central States pension fund was the mob piggy bank. Some was used when the KC and Chicago mob bought into Vegas.

Some was repaid, some was funneled off. The teamsters members knew that Hoffa and his successors were playing fast and loose but it was more important to the members to have a “tough” image. If they are unfunded and just now facing it, the cost is high but it is no ones fault except the members who controlled the funds board.