Why can't I look forward to retirement?

[Concretion]

Retirement plans are in danger of temporary, permanent federal cuts

Central States Pension Fund, which represents 49 companies including Kroger and UPS, submitted its paperwork Sept. 25 and cuts will take effect July 1. Nearly $2.2 billion and the pensions of 24,625 Texans provided by Central States are at risk.

Friedman said the issue can be slowed by lawsuits and the treasury, but only Congress can fix it.

 

[Jones]

Imagine if we took all the money we're wasting waging an endless war in the middle east and used it to provide financial security for working people here in the USA. Probably have enough left over to send all their kids to college as well.

 

[IVE GOTTA PACKAGE 4U]

Start pumping up your 401k.

 

[IVE GOTTA PACKAGE 4U]

Gloom and doom for many of us. We got to take some responsibility for ourselves.

 

[barnyard]

I believe that I was in HS when the airlines said they would be bankrupted by their pensions. Guaranteed benefit pensions are not sustainable, anyone that thinks they are, needs to retake grade school math.

 

[Overpaid Union Thug]

Imagine if we took all the money we're wasting waging an endless war in the middle east and used it to provide financial security for working people here in the USA. Probably have enough left over to send all their kids to college as well.

That combined with the money wasted on handouts for Americans, legal and illegal aliens, and to countries that hate us would be enormous. Wars, social experiments, and charity can be rather expensive.

 

[realbrown1]

Imagine if we took all the money we're wasting waging an endless war in the middle east and used it to provide financial security for working people here in the USA. Probably have enough left over to send all their kids to college as well.

Since when is it the government's job to fix private union pension plans that have failed?

Other than the government's insurance plan as a safety net to protect against total collapse, it is fantasyland to think they should bail out private pensions.

 

[anHOURover]

..... Because of Jimmy and dance hall running this union into the ground ... FACT

 

[3 done 3 to go]

The Multi employer pensions needs to go. Each company should be responsible for their own. Or just give the monies to me. So I can invest myself. Stop giving money to political parties who really don't help. Only sell out.

 

[IVE GOTTA PACKAGE 4U]

The Multi employer pensions needs to go. Each company should be responsible for their own. Or just give the monies to me. So I can invest myself. Stop giving money to political parties who really don't help. Only sell out.

Amen

 

[3 done 3 to go]

Where are the OG and TDU now? They can't fix it either. I don't see it

 

[IVE GOTTA PACKAGE 4U]

Where are the OG and TDU now? They can't fix it either. I don't see it

It's ugly brother.

 

[beavis]

Imagine if we took all the money we're wasting waging an endless war in the middle east and used it to provide financial security for working people here in the USA. Probably have enough left over to send all their kids to college as well.


Yeah Jones, we should ignore the middle east, pretend the radical Jihadists don't commit atrocities here and abroad and instead spend the money to bail out your failed pension so you can retire and send your kids to college. As long as you're happy.

 

[rod]

Since when is it the government's job to fix private union pension plans that have failed?

Other than the government's insurance plan as a safety net to protect against total collapse, it is fantasyland to think they should bail out private pensions.

It wasn't their job to bail out every 3 piece suit on Wall Street or 2 of the 3 big auto makers or half of the banking institutions in the USA ------------------------------------------------------------but they did.

 

[Catatonic]

Imagine if we took all the money we're wasting waging an endless war in the middle east and used it to provide financial security for working people here in the USA. Probably have enough left over to send all their kids to college as well.

Or pay down the debt.

 

[Bubblehead]

Or pay down the debt.

Yep.
We all claim to love our children, and what's not to love, as we live exalted the fruits of their future labors.

 

[PiedmontSteward]

Since when is it the government's job to fix private union pension plans that have failed?

Other than the government's insurance plan as a safety net to protect against total collapse, it is fantasyland to think they should bail out private pensions.

Since when is it it the government's job to bail out private equity banks that gambled with other peoples' money?

A lot of pension funds were tied up in the subprime mortgage cluster. Granted, Central States was already bleeding out but '08 just hastened it along. Thanks again, Jimmy Carter!

 

[realbrown1]

Since when is it it the government's job to bail out private equity banks that gambled with other peoples' money?

A lot of pension funds were tied up in the subprime mortgage cluster. Granted, Central States was already bleeding out but '08 just hastened it along. Thanks again, Jimmy Carter!

It's not the government's job to bail out private equity banks.

Satisfied?

 

[realbrown1]

The Multi employer pensions needs to go. Each company should be responsible for their own. Or just give the monies to me. So I can invest myself. Stop giving money to political parties who really don't help. Only sell out.

I like the matching 401K plan.

I have just over 6 figures in my with just 1% to 3% contributions out of my paycheck every week for just under 30 years.

Can you imagine if UPS matched say 8%?

I would have put 8% into my 401K plan to get the full match.

It would cost UPS less than what they are paying into our pensions and we would be millionaires after 30 to 35 years with the company with the full 8% match.

And you would not have to worry about it going bankrupt and cutting payouts by 60% to 70% like some multi-employer pension plans.

 

[olroadbeech]

Retirement plans are in danger of temporary, permanent federal cuts

Central States Pension Fund, which represents 49 companies including Kroger and UPS, submitted its paperwork Sept. 25 and cuts will take effect July 1. Nearly $2.2 billion and the pensions of 24,625 Texans provided by Central States are at risk.

Friedman said the issue can be slowed by lawsuits and the treasury, but only Congress can fix it.

someone should go to prison over this. it is criminal.