[R.W.Ratikal]

The recent cases where large companies who fail turn over their pension liabilities to taxpayers should be stopped.

Millions of people work for small businesses who offer no pensions. They must depend on Social Security or savings and investments for retirement. Why should they be forced to share their retirement savings with others.

You make a deal with your employer to work and in return you are to be paid, so much now, so much later. If the company goes under, the deal's off. You will receive no more present pay. Why should taxpayers, who had nothing to do with your agreement, now be forced to continue your future pay?

Democrats and other socialist are always whining about restoring "fairness." Here's a good place to start.

[Who dat?]

The recent cases where large companies who fail turn over their pension liabilities to taxpayers should be stopped.

http://www.pbgc.gov/

PBGC is a federal corporation created by the Employee Retirement Income Security Act of 1974. It currently protects the pensions of 44.4 million American workers and retirees in 31,200 private single-employer and multiemployer defined benefit pension plans. PBGC receives no funds from general tax revenues. Operations are financed by insurance premiums set by Congress and paid by sponsors of defined benefit plans, investment income, assets from pension plans trusteed by PBGC, and recoveries from the companies formerly responsible for the plans.

Time people quit crybabying about the pension plans going to the PBGC. That’s what it’s there for.

Not that it really should be. Their pensions, at absolute most, should be frozen for some period of time so they can decide who gets how much and then issue lump sum checks and close it out. Not some make-work program where someone gets to spend a career continuing to manage it.