Posted on 02/19/2016 7:27:00 AM PST by SeekAndFind
I didn’t know ERISA did that, I didn’t know that they COULD do that. I used to be a fiduciary for a pension plan, but since I retired I havent kept up with everything.
Two things are certain.
1) It is all based on economic fallacies
2) The Dems have every intention of doing it.
Rush neatly summed up the reason when talking about elections in Europe about ten years ago. In elections there the determining factor is one thing, and one thing only.
“How do I maintain, or INCREASE, my social benefits?”
Democrats feel that once they shift us onto that paradigm they’ll never lose an election again.
Quit-cher-beeching and go back to work.
There are hundreds of thousands of illegals and muslim terrorists who are counting on people kike you to pay for their Obamaphones, Obamacare and other freebies.
Great idea, let’s rob old people who won’t get a job due to rampant ageism. Close the fund to new participants and pay the people what they were d@mn well promised.
I detest that woman.
The Teamsters stole the money and underfunded the plan and the government took it over
I have CALSTRS and I’m curious to see what will happen. I could technically retire at 56 (in 2021) and have a tiny pension because I didn’t start working here till my late 30s. I have no dependents and no debt, (except student loan, which should be gone by then) but I’m not sure what I’m going to do. I love teaching... sometimes... but I’m sick of Los Angeles.
Yeah. In this case, where these are union shops, maybe 5 or 6 jobs.
Two to replace me (gotta cover my pension and their union dues), one poor schlub to clean the mess, one guy to stand there and watch him, another guy to make sure the guy standing there and watching the schlub doesn't do any work, and the last guy to stare menacingly at any passers-by.
The taxpayers are definitely on the hook for the public employee pensions. They don’t care because the taxpayers are not willing participants. I worked for a PEU and that’s exactly what they think.
This is the Teamsters. Not the United Auto Workers.
“The fund is projected to go broke by 2026. Without the proposed cuts, no benefits at all will be paid from that point forward”
I see this line in the article and read it as: “we will not pay out any more, but you will still pay in”
Strange statement to say the least.
weird you say this...retired at 50...now 61 getting ready to get SS and surprise.... all I am worried about is how do I get more free stuff...and I was a life long conservative...now I think I am a socialist....I could care less what my children have to pay...hope this goes away
We don’t have those anymore!
Or instead of forcing people to pay into a defined benefit plan, let them save and make their own investment decisions with a defined contribution plan, and then they can retire whenever they they want to. That would almost sound like freedom and individual responsibility.
You teach in LA? What’s that like?
The only beneficiaries of the fraudulent union/politician benefit deals were the union bosses and the (probably by now) retired politicians. Of course this is a ticking time bomb, DUH. The union members were duped, it was a Ponzi scheme, those who are already playing golf in Florida are probably OK, the pensioners near retirement better think twice about retiring.
.
>> “how is someone retired with a 4th grader and a 9th grader” <<
He probably is on his second wife, who is considerably younger than he is, and doesn’t have any self control.
.
“After working 33 years, he’s facing a 55% cut to his pension benefits, a blow which he says will “cripple” his family and imperil the livelihood of his two children, one of whom is in the fourth grade and one of whom is just entering high school.”
Dollars to donuts he is a school teacher that ‘bought’ 10 years of that 33 year pension. He likely is already working at another school system and will draw another pension when he ‘retires’ at the age of 60-62.
If it was up to me...all the public employee union workers would be put in a gunny sack and dumped in the river!
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.