Bailing out the PBGC....

[SoCalDem]

Apparently most pension plans will be broke by 2020, and the "word on the street" is that the government (you and I) will be asked to "bail them out"..

During the last few decades, the CEO's have been pocketing HUUUUUGE salaries, selling off parts (or all) of the companies, and making huge profits for their stockholders..

It seems to me, that those companies who willfully neglected funding their pension plans, during times when THEY and the stockholders raked in the big bucks, should be forced to re-pay/re-fund those pensions..

The companies are asking the government to "help" them "redefine" their pension plans..translation: screw the future pensionholder..

Someone has to start drawing the line in PERMANENT marker..Irresponsible CEO's are a bigger problem than all the bogeymen that are put on the front pages..

Saddam-gonna-get-ya?...vs Your-boss-gonna-steal-your-retirement money?

My money's on your boss :(


http://www.pbgc.gov/search/default.htm

[papau]

1. In the grand scale of theft - this is only 2 months of Iraq!

But there indeed needs to be something done to bring back the defined benefit concept!