Cost Of Living Raise

meritocracy

International Brotherhood of Supervisors (IBS)
I find the government bailing out a corrupt private business a bad thing
We can fight harder in the future to make sure it doesn't happen again. I'm not okay with us screwing over our retirees who worked their lives away just to make a point. Plus it makes it a lot harder to sign people up in right to work states and organize new workpalces. Why be a union member if you can't expect a pension when you retire?
 

DELACROIX

In the Spirit of Honore' Daumier
I find the government bailing out a corrupt private business a bad thing

Here is another point of view about this bail out. Maybe just maybe the Feds had some blame for these underfunded pension plans, labor laws have always favored corporations and companies for example the Feds provided an out for all those freight companies to declare bankruptcy and to restructure in the Central. UPS always had control over he part timers pension funding, when they were gutting full time jobs back in the day and replacing them with three part timers they knew they were eliminating further funding for the Central.

There is plenty of blame to go around...
 
Here is another point of view about this bail out. Maybe just maybe the Feds had some blame for these underfunded pension plans, labor laws have always favored corporations and companies for example the Feds provided an out for all those freight companies to declare bankruptcy and to restructure in the Central. UPS always had control over he part timers pension funding, when they were gutting full time jobs back in the day and replacing them with three part timers they knew they were eliminating further funding for the Central.

There is plenty of blame to go around...
You're correct about that on one thing were many times laws was passed so they could change their accounting methods they use for funding the pension funds
 

charm299

Well-Known Member
Here is another point of view about this bail out. Maybe just maybe the Feds had some blame for these underfunded pension plans, labor laws have always favored corporations and companies for example the Feds provided an out for all those freight companies to declare bankruptcy and to restructure in the Central. UPS always had control over he part timers pension funding, when they were gutting full time jobs back in the day and replacing them with three part timers they knew they were eliminating further funding for the Central.

There is plenty of blame to go around...
I don’t care about what might have happened,the government needs to stay out of bailing out private companies with tax payer money.....period
 

DELACROIX

In the Spirit of Honore' Daumier
I don’t care about what might have happened,the government needs to stay out of bailing out private companies with tax payer money.....period

That bail out money is actually going into the federal agency called the PBGC, it’s sole purpose is to insure private and multi employer pensions. These underfunded pension trusts have to apply
for the forgivable loan, I read somewhere that it maybe a year or more before the funds are released.

I believe that the retirees will start getting checks from the PBGC instead of their pension plans. The fine print would be interesting though, I expect that the Feds will be more involved with the running of these trusts and the corporations and companies that contribute into those pension plans.
 

Inthegame

Well-Known Member
That bail out money is actually going into the federal agency called the PBGC, it’s sole purpose is to insure private and multi employer pensions. These underfunded pension trusts have to apply
for the forgivable loan, I read somewhere that it maybe a year or more before the funds are released.

I believe that the retirees will start getting checks from the PBGC instead of their pension plans. The fine print would be interesting though, I expect that the Feds will be more involved with the running of these trusts and the corporations and companies that contribute into those pension plans.
The Pension Benefit Guaranty Corporation (PBGC) operates solely from premiums collected from existing pension plans on a per member per month basis. No general taxpayer money goes to the PBGC currently. That will change soon.

PBGC assists failed plans and those plans then distribute benefits to their members.

Private plans and multi-employer plans are operated separately. Over 5000 private single employer plans have failed (23.5%) and are in distress and receiving aid, compared to 90 multi-employer plans (10.9%) at this time.

The PBGC is under directions to have preparations ready by July 2021to aid troubled pensions.

The PBGC is headed by Gordon Hartogensis, who was appointed after the Obama appointee was removed during his 5 year term of office.

Hartogensis had no prior experience or involvement with any pension plan prior to his appointment, but he is Mitch McConnell's brother in law.

And we wonder how anything positive ever gets done?
 

Wally

BrownCafe Innovator & King of Puns
 

Wally

BrownCafe Innovator & King of Puns
Bookmarking this worthless thread to laugh at later.
Worthless? Check out the list of rising prices:

 

Trailer monkey

Well-Known Member
Worthless? Check out the list of rising prices:

They always make it out like Carter caused the high inflation when in fact he prevented it from being far worse.
 

104Feeder

Phoenix Feeder

Sissy Brown Short Shorts

Well-Known Member
Maybe, Japan has had a Debt/GDP of 200-250% since 2010 and have not had inflation above 3% per year. The US is is nowhere near and will not get near that. The spike in lumber is being cause by supply issues not public debt
Japan has had decades long stagnation since 1990. They called it the lost decade and employment ice age. They call it the lost thirty now because it’s still a slow slog upwards. Much like Obama’s terrible recovery.
 
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