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mythology

(9,527 posts)

10. I guess I can't tell if this is a necessary action or one that is undermining the pension system

Thu Dec 18, 2014, 07:08 PM

Dec 2014

Is the underfunding due to the decrease in union membership and due to people living longer/having more health needs due to living longer, or were the companies underfunding the pensions?

But if the options are getting some of what you were promised, as opposed to none, I guess it's better for retirees to get a percentage.

But if we had a more functional government I think the correct solution would be to have the government fund the pensions where there is a gap, but that would create an incentive for companies to cook the books to look broke and shift the retirement off onto people.

Again if we had a more functional government, the better solution would be to take employment out of retirement funding so that a company couldn't either intentionally or unintentionally leave their retirees out in the cold. But I don't trust Republicans to not then cut those benefits.

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Congress passes major change to law on union pensions [View all] Omaha Steve Dec 2014 OP

unding everything one layer at a time belzabubba333 Dec 2014 #1

shame on George Miller -- is he lining up his next gig after he retires? nt antigop Dec 2014 #2

Anytime a bunch of white men in suits get together to "fix" union pensions.. mountain grammy Dec 2014 #3

Yikes. What does this sentence mean? "the funds are invested so that the plans have enough midnight Dec 2014 #4

No, the unions invest the money. former9thward Dec 2014 #13

"Wallstreet" isn't a thing. The unions invest the funds. Recursion Dec 2014 #30

So Wallstreet ripped off union pensions.... blackspade Dec 2014 #5

How did "Wallstreet" rip them off? former9thward Dec 2014 #14

The money was invested in Wall Street. blackspade Dec 2014 #36

Who invested the money in Wall Street? former9thward Dec 2014 #38

Um, the trustees? blackspade Dec 2014 #39

'there is a wealth of info out there detailing this stuff" A HERETIC I AM Dec 2014 #40

Care to clarify what I'm not understanding? blackspade Dec 2014 #41

Sure. A HERETIC I AM Dec 2014 #42

That clarified nothing. blackspade Dec 2014 #43

I made all that back, plus 50% joeglow3 Dec 2014 #44

See, the thing is, PEOPLE are not "too big to fail." WinkyDink Dec 2014 #6

big kick and big rec! nt steve2470 Dec 2014 #7

K&R! countryjake Dec 2014 #8

K&R WorseBeforeBetter Dec 2014 #9

I guess I can't tell if this is a necessary action or one that is undermining the pension system mythology Dec 2014 #10

We have several DUers I can't speak for about this Omaha Steve Dec 2014 #12

Pitchforks should be coming out very soon...apologists for wall street stealing our pensions NoJusticeNoPeace Dec 2014 #26

These were not company run pension funds. former9thward Dec 2014 #16

Link please Omaha Steve Dec 2014 #17

It is in your OP. former9thward Dec 2014 #18

Here is a little bit different take written before the budget passed Omaha Steve Dec 2014 #20

Well I agree with the Carpenters. former9thward Dec 2014 #21

But the PBGC isn't just multiple employer pensions Omaha Steve Dec 2014 #22

Right, they are both. former9thward Dec 2014 #24

I think we are back in agrement Omaha Steve Dec 2014 #25

I worked at Wheeling Pittsburgh Steel for 40 years. Part of my pension a doc03 Dec 2014 #28

I read so much in a week, here is more from THE SAME LINK Omaha Steve Dec 2014 #23

You seem to be hellbent on blaming the unions. Maybe not all but doc03 Dec 2014 #32

No one can deny plain history. former9thward Dec 2014 #33

Goes back to Reaganomics. The Republicans are now raising hell about doc03 Dec 2014 #34

If you remember being in Washington asking Bush to put tariffs on steel you should also doc03 Dec 2014 #37

Kick nt Hissyspit Dec 2014 #11

fucking criminal. spanone Dec 2014 #15

Austerity for all and to all, good luck. nc4bo Dec 2014 #19

Obama WillTwain Dec 2014 #27

I agree and you can bet the Republicans are going to hang doc03 Dec 2014 #29

So did many unions (nt) Recursion Dec 2014 #31

k&r nt bananas Dec 2014 #35