Posted on 02/19/2016 7:27:00 AM PST by SeekAndFind
Gee, I thought that the Union and Government was there to protect worker! Welcome to Hope & Change MF’er!
I don’t recall the pension funds loosing money on their casino investments through the mob...then the government helped them to avoid that problem by chasing Hoffa and the guys out of office.
According to standard Liberal economic theory you SHOULD retire at 51, because that is creating a job for some young person.
How is one able to be of an age to retire if they have a 10 year old kid? Not saying its not possible, but seriously. I’m 44 and just had a child and I certainly at the top of the range of folks having children... have met a few older than me, but not too many... to be retired at a typical age of 65 and assuming he literally just retired, that means he had his kid at 55.... not impossible, but something makes me suspect he might not be over 65.
I’ve never understood the public union/pension... you can retire after 20 or 25 years of services with a lifetime pension and benefits, so you are “retired” at 45 or 50 and taxpayers are on the hook for you for the next 30 years?
I am not saying that’s this guys case, but it sure makes me wonder if it is.
It has been known for decades, that pensions are unsustainable. That is why responsible corporations started phasing them out back in the 80’s and replacing them with 401k’s.
The gravy train is over folks. You had ample warnings.
Geez.....I was retired by my company after 24 years, at age 60. My pension is less than half what these GM retirees are getting.
I expect they also have a free-ride medical plan, as well. I have to pay the full cost of my retiree group medical plan.
I don’t understand the table. The more you earn the less you’re compensated? That’s a very progressive schedule and I don’t understand it and what I think I understand I simply don’t believe.
You are describing my father-in-law, who is a UAW retiree.
Retired at 55, has free ride medical, and yet he STILL does nothing but bitch.
CALPERS is molding their investments to fit a social agenda, I wonder how that’s working out.
You know Obama recently changed ERISA rules to force pension funds to use CLIMATE CHANGE as one of the criteria they MUST use when selecting investments, right?
The presentation still does not seem to be a viable business model. Most of the “fixes” offered by the clever Liberal “economists” seem to include either diverting funds from other even more basic needs, like repair of crumbling infrastructure, or reduction in police and fire services, or by simply expropriation of the financial instruments of “the wealthy”, by whatever rationale they can come up with. Of course, “the wealthy” reaches down a long ways, to people who may have as little as $50,000 gross income a year.
So basically she proposes a more Communist form of Social Security, forcing you to hand over even more money to the government, beyond what we already have provided, and the government has spent, and regardless of how much or how little you hand over, you get at least a $600 payout. Do I have this right?
So, really, I should aspire to be nothing more than a WalMart greeter all my life.
Yeppers. The way it is supposed to work is Bond Holders are usually first in line or at least very near the beginning of it when the Bankruptcy or sell off happens. But Obama sent them to the back and they ended up with bupkiss on the GM deal, reportedly less than 10 cents on the dollar while the FEDGOV and the UAW got most of it.
I haven't purchased any bonds after that incident and sold off all I had.
We just don't spend money now and paid off all our debt and put the rest locally where we can get to it quick with the best return we can find.
I am done with the Federally Rigged markets.
It’s simple, he hit the magic number for retirement for his company, whatever it was. Let’s say his companies magic number is 85, he started working for the company at 19. He became fully vested in their pension plan at 29. Married a girl at 32 and had his first kid at 38, second child at 43.
9 years later, he is 52 and he has hit the magic number “85” (age plus years worked) so he can retire with his full pension and enjoy his golden years... and his silver years... and a good portion of his prime productive years... in retirement.
All because whoever set up the pension plan believed that they could pay for it decades ago when they designed it.
I had to settle my Dad’s financial affairs after he died. He had worked in a factory and had been a union man for quite some time.
I was shocked at how small his retirement was. It was nothing like the retirement figures mentioned in this story.
I guess his retirement was based on reality.
There is no reason I, as a non-union private sector worker, have to wait to retire at 67 while union guys and public sector employees retire at 50. There should be no pensions paid until social security age. That would solve 90% of our problems
Not even that old. The article didn't mention his age, just that he'd worked at the company for 33 years before retiring. If he started at 18, that's only 51 years of age, if he just retired. That would mean his kids were born when he was in his thirties. Fourth grade is 9-10, so maybe he was in his early 40s for the second kid. Who knows, maybe they're not kids, but grandkids. My daughter is friends with a girl who was in her class (before we started homeschooling). They're both 8, but her friend is living with her grandparents, who are only a few years, at best, older than me. They started young, I started late.
If I had kids at 18 or 19, and my kids did the same, I'd easily have an 8-year-old (possibly 10-year-old) grandkid today, and I'm only 46, soon to be 47.
Uh, I think I might know how your F-I-L might vote. And as to requiring pensions to fund the climate scam, how is that even legal. And why hasn’t there been untold numbers of lawsuits. Where are the class action chasers?
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