Posted on 03/26/2017 5:30:43 PM PDT by SeekAndFind
PUBLIC Pensions are in trouble.
Why?
Politicians (nearly all democrat) promised the public unions insane pensions in return for the the public union’s support and MONEY.
Public unions are the LARGEST campaign contributors of all time.
And give 99% to democrats.
It is basically money laundering of taxpayer money.
https://www.opensecrets.org/orgs/
There are private pensions that are in trouble too. But that is mostly self correcting (ie - if the unions bankrupt their private employers they will get nothing).
The average income of an over 75 year olds of $34k supposes that those people HAVE NO SAVINGS. if so tough sh.. If they were that irresponsible for their lives they deserve to suffer. If they get sick again tough sh..
uniparty will once again float trial balloons to take over the 12 trillion plus in 401k’s and other retirement funds.
Not when pensions are helped by interest rates.
Idiots.
I don’t have a pension.
RE: Not when pensions are helped by interest rates.
Interest rates go up IN THE MOST PART BECAUSE inflation goes up.
RE: I don’t have a pension.
I hope you have alternatives, i.e., social security + 401K or IRA + other investments.
Yeah...Oregon is in a w o rld of hurt...talked to my State Legislator Fri. ..she said it’s baaaaddd...but we are still paying football coaches and doctors pensions of 25K to $52K a MONTH
I’ve always assumed they would magically change the rules on the various tax-deferred or tax-advantaged federal pension plans.
Anyone who thought the politicians would keep their promises on those is a fool.
This is part of "leadership behaving badly". They have taken the money that they were suppose to safeguard and carefully invest and blown it.
If this was a company pension fund in a small company or a small union it would be easy to track down who had committed this betrayal of trust and punish them.
But in the world of Mega-corp, mega-union and mega-government their very size is their protection. How do you go after everybody?
Who is innocent and who is guilty?
The city of Dallas is going to end up in bankruptcy unless they get a bailout. They turned a blind eye to mismanagement and corruption in the Police and Fire pension fund.
I’ve been non-union private sector my whole working career. SS and 401K + assets + savings are my retirement.
We're in the same boat. Private sector pensions largely went the way of the dodo bird about the time we entered the professional workplace. Thanks to all the upheaval in the private sector, we've changed careers a few times and are both now in a parochial school teachers union. As of a few years ago, even that organization went to a defined contribution plan because traditional pensions, even meager ones, were unsustainable.
Does this mean 1 and 1 really doesn’t equal 11 ???
Seriously folks, the people that negotiated these fraudulent contracts that are mathematically impossible to fulfill, belong in prison and their Assets Stripped. The people that believed them should ave learned to do basic math.
All pension funds that are Underfunded should be abolished, all assets turned over to Social Security, and dump all the dupes in to Social Security.
Thanks to Obama, I dont have a pension, IRA, 401k, or savings. After two layoffs under obama, I am thankfull to have at least have a job under President Trump. If both my wife and I work another 20 and then retire, me at 72 and the wife at 65, then I just might be able to live with a reduced lifestyle in my retirement years.
THANKS Obama /sarc
Thanks to Obama, I dont have a pension, IRA, 401k, or savings. After two layoffs under obama, I am thankfull to have at least have a job under President Trump. If both my wife and I work another 20 and then retire, me at 72 and the wife at 65, then I just might be able to live with a reduced lifestyle in my retirement years.
THANKS Obama /sarc
It’s money laundering, influence peddling, legalized extortion, and a ponzi scheme all rolled up in one.
But, but....U of O is in the NCAA Final Four.
But, but....U of O is in the NCAA Final Four.
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