Pennies on the dollar will effectively render my benefit to cancelation.
Say, how and where are our contributions "invested"?
Anyone remember Enron? That type of thing......
Anyone imagine having control of billions of dollars....and having to decide where to park it?
Please do tell us.
You are being very foolish, Enron? Really? Ups is not Enron.
Saying your unhappy with how pension contributions are invested, and saying there is outright fraud is quite a bit different.
Your dollars are invested by fiduciaries and overseen by trustees and government regulators.
In regards to Central states. I attend a yearly
Conference where the people in charge Come and give us an update on The performance of the pension fund.
Obviously the news was not always good but that did not mean there was fraud. A mix of market conditions and investing blunders.
Even with all that we still have our pension. Perhaps you would like our pension to go away because you’re a miserable individual And would like to see people suffer? I have news for you that’s not gonna happen.
Your pension will be there as will mine. Even if something tragic happened to the company.
Could it be worthless? Yes, could be worth nothing? No.
If you’re unhappy with the way the investing has gone that’s understandable, But Nobody is “skimming cream” from the top as you say. They would all be in jail so put your wild fantasies to rest.
