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onethatcares

(16,983 posts)

22. when a company goes bellyup

Reply to alp227 (Original post)

Wed Nov 13, 2013, 08:41 PM

Nov 2013

and tosses its pensions to the curb, doesn't the government (you and me) pick it up through the government guaranteed pension system or some such entity?

What choice do cities have?

Myself, I think everyone should have a stipend and healthcare at the end of their working lives. Government provided if needed, and/or the company the person worked for was too farking cheap to get one for their long time employees, And while I'm on that,
it shouldn't matter how many companies you've worked for over the years, a base pension should be available to anyone and everyone.

LIKE SOCIAL SECURITY SHOULD BE FOR ALL OF US.

Jeeeez, the first thing Richie rich would say is cut that waste out.

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Highlight:

Another U.S. city mulls bankruptcy due to soaring wages and pensions [View all] alp227 Nov 2013 OP

"burdensome salary and pension costs" KatyMan Nov 2013 #1

If cities mismanage their finances they will go bankrupt hack89 Nov 2013 #2

I suspect that optimistic projections were only a part of the problem- can you say RDA? LooseWilly Nov 2013 #19

The employees are not to blame hack89 Nov 2013 #20

Tax those corporate tenants... there's plenty of money there LooseWilly Nov 2013 #23

I doubt a small resort town has a lot of corporate tenants hack89 Nov 2013 #25

Walmart, McDonald's, TacoTown, etc... all probably live there somewhere LooseWilly Nov 2013 #27

So what percentage will you tax them at hack89 Nov 2013 #28

Exactly! It's the city's failure to set aside moneys for their contracted obligations SharonAnn Nov 2013 #29

budget messes are every where in the public sector beachbum bob Nov 2013 #3

The reason pension cost rose is because they upaloopa Nov 2013 #9

Well, technically... a defined benefit plan's cost can't "rise"... LooseWilly Nov 2013 #24

I work for a county government and am a SEIU upaloopa Nov 2013 #30

In some years past, maybe as far as decades Trillo Nov 2013 #4

Why don't you do some research on the subject upaloopa Nov 2013 #10

One of my landlords was a retired cop (probation officer), he also told the same story, Trillo Nov 2013 #13

That has nothing to do with pensions upaloopa Nov 2013 #15

That's not what I read, or was told, Trillo Nov 2013 #16

I am a government worker what I said is true upaloopa Nov 2013 #17

"Six figure pensions" Trillo Nov 2013 #18

Not under a typical pension system. haele Nov 2013 #12

Legalize and tax the herb! zappaman Nov 2013 #5

"burdensome salary and pension costs" usually means Blue_Tires Nov 2013 #6

All of these pensions were doable... ReverendDeuce Nov 2013 #7

+1 Starry Messenger Nov 2013 #21

Pensions are dangerous for a long term company. A lot of risk. nt Logical Nov 2013 #8

You know in 50's and 60's just about every worker had upaloopa Nov 2013 #11

Nope, a CFO plans for pensions, just as they plan for facilities and depreciation. haele Nov 2013 #14

when a company goes bellyup onethatcares Nov 2013 #22

How about fucking raising taxes gopiscrap Nov 2013 #26