And so it begins....
Taxpayers: hold onto your wallets!
This is going to be a nightmare for baby boomers.
We were studying unfunded pension liability when I was in college, THIRTY YEARS AGO. Nothing was done. Best wishes to all. If you (random person whose pension vaporized) go to my church or live on my street, I’ll probably help you in some way.
Well considering that this is CNN-Clinton News Network, I don’t think I would believe to much of what has been written...
One thing you can take to the bank is that if you vote for Trump, you will be getting jobs, economy and money in your pocket and a pension...
GO.TRUMP.GO!!! ALL THE WAY TO THE OVAL OFFICE!!!
hahahahahahahahahahahahahahaha
JUST ANOTHER UNION SOLD OUT BY THE UNION..
let them eat shizzle
fools
believing in U N I O N S
bosses take good care of T H E M S E L V E S
SUCK A LEMON......
I’m enjoying my retirement while I have decent pensions coming in.I have no doubt that soon,maybe even within 10...or even 5...years my Social Security *and* pension will be pretty much gone.Then I live off of savings.
Had a hard time determining whose pensions this company manages. Anyone know?
-Thatcher
one way or the other the taxpayer will take a hit.
If no bailout, then some will probably be on welfare.
I’m guessin the welfare will be cheaper in the long run, as there really should’t be a long run for a good many retirees.
If you’ve worked for 30 years, you probably also are on drawing social security. Can SS sustain the Teamster retiree ?
Sad state of affairs.
Now, legal plunder can be committed in an infinite number of ways. Thus we have an infinite number of plans for organizing it: tariffs, protection, benefits, subsidies, encouragements, progressive taxation, public schools, guaranteed jobs, guaranteed profits, minimum wages, a right to relief, a right to the tools of labor, free credit, and so on, and so on. All these plans as a whole — with their common aim of legal plunder — constitute socialism. - Bastiat
The socialists set it up. The socialists set you up. Progressive ponzi. Marxist musical chairs.
is that ALL the pensions? I mean the first 3 that state employees normally get or just the 4th one that is going to be cut?
“.......... but most of its retirees were truck drivers.”
—
If they’re not union, they’re screwed. If they’re union, expect taxpayers to bail them out with money we don’t have.
Coming soon to other pension providers near you.
Got a deal for the IRS. They can keep my social security and I am not paying any taxes for the remainder of my life. Might as well get something for all that lost money.
How about all the money the Teamsters stole from the fund to give to DemocRATS?
Used to remit contributions to this fund for the company I worked for it’s one union truck driver. I remember when he retired how little he was going to receive considering what was paid in for him by the company.
While there are many good points on this thread.....union corruption, Govt pension excesses, and other things, the reason this is happening is that the government, to prevent a reckoning from its excess spending and debt is setting interest rates to prevent blowing out budgets.
If you get zero returns, you cannot sustain a pension fund, because you are burning through principal.
No pensions, including government pensions will survive this
So 36 years later, we are supposed to fix their problem...?