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Brown Cafe UPS Forum
UPS Union Issues
Nys teamsters pension & retirement fund
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<blockquote data-quote="Bubblehead" data-source="post: 3186954" data-attributes="member: 14176"><p>While the term "ponzi scheme" may very well be a gross oversimplification, it certainly paints the picture of the fatal flaw of the pension system. </p><p></p><p>....the same flaw as many pensions suffer, a disproportionate number of beneficiaries verses active participants. </p><p></p><p>Most ponzi schemes go undetected by the SEC until their beneficiaries outnumber their active participants.</p><p>As long as there's a balance, everything is "kosher".</p><p></p><p>Scary thing is, most UPSer's now feel comfortable that our pension is finely wrapped, and now safe in a single employer fund???....</p><p></p><p>....but isn't that what all financial advisors rail against, putting all your eggs in one basket?</p><p></p><p>Face it, the "scheme" has been exposed.</p></blockquote><p></p>
[QUOTE="Bubblehead, post: 3186954, member: 14176"] While the term "ponzi scheme" may very well be a gross oversimplification, it certainly paints the picture of the fatal flaw of the pension system. ....the same flaw as many pensions suffer, a disproportionate number of beneficiaries verses active participants. Most ponzi schemes go undetected by the SEC until their beneficiaries outnumber their active participants. As long as there's a balance, everything is "kosher". Scary thing is, most UPSer's now feel comfortable that our pension is finely wrapped, and now safe in a single employer fund???.... ....but isn't that what all financial advisors rail against, putting all your eggs in one basket? Face it, the "scheme" has been exposed. [/QUOTE]
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