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What would it take?
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<blockquote data-quote="hypo hanna" data-source="post: 1263466" data-attributes="member: 42600"><p>Around that time fedex like many other corporations realized their pensions were overfunded. This was a big chunk of money that they legally couldn't touch but wanted badly. With a few well placed campaign donations, (bribes) of our elected officials, they got the pension rules changed. The end result was they were able to convert our pensions into 401K's, aka "portable pensions", and the billions left over was theirs free and clear. Now they had to slip this all past the employees without them getting wise and starting a mutiny. They cranked up their PR machines and said the pensions were underfunded (proved with some accounting tricks), and told us all how its better that we manage our own accounts as we are way smarter then professional pension managers.</p><p>Read the book "Retirement Heist" by Ellen Schultz for all of the gory details.</p></blockquote><p></p>
[QUOTE="hypo hanna, post: 1263466, member: 42600"] Around that time fedex like many other corporations realized their pensions were overfunded. This was a big chunk of money that they legally couldn't touch but wanted badly. With a few well placed campaign donations, (bribes) of our elected officials, they got the pension rules changed. The end result was they were able to convert our pensions into 401K's, aka "portable pensions", and the billions left over was theirs free and clear. Now they had to slip this all past the employees without them getting wise and starting a mutiny. They cranked up their PR machines and said the pensions were underfunded (proved with some accounting tricks), and told us all how its better that we manage our own accounts as we are way smarter then professional pension managers. Read the book "Retirement Heist" by Ellen Schultz for all of the gory details. [/QUOTE]
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