A glance into SS and Medicare

[WTF]

http://www.msn.com/en-us/money/retir...N&ocid=U221DHP


The face of America's pension crisis


Pensions get approval to slash benefits

In 2014, Congress passed a law that would allow pensions to do the once unthinkable: cut benefits to current recipients in order to stave off a crisis.

.

[kehaar]

Progressives(Leftwing Fascist Thugs) at work.

A system that promises future payments funded by future employees is a Ponzi scheme, and will always fail.

When the worker complains that money was collected in return for future promises, it should be noted that the company had nothing to do with the collection, or the promise. It is like me signing a piece of paper saying I owe myself 10 m$ in 10 years, then sending that piece of paper to the government demanding it be held legal, then demanding the government pay me my share.

The teamsters are wholely at fault for this debacle, and it has been claimed that the teamsters are the workers. Maybe they aren't, and ought to be delegitimized. .

[Mr MojoRisin]

It's called "borrowing from Peter to save Paul". What they should do is chop the welfare system down to size instead of messing with people's pensions, which they honestly earned. The United States Government is nothing but a criminal empire that's all it is.


Jim

[Jackie S]

People that expect to be paid for a period of time that was more than the years that they worked have nobody but themselves to blame for their financial debacle.

[kehaar]

https://finance.yahoo.com/m/a8194121...vers-at-a.html


Timely

A group of FedEx workers has decided to say goodbye to its union. FedEx announced that city and road drivers at a FedEx Freight service center in Charlotte voted to “decertify the Teamsters union as its bargaining representative.” “FedEx Freight respects the right of our team members to decide for themselves if they want to be part of a union.

[futbolhead]

Pensions have been used for decades by companies as incentive to attract employees to work for them in lieu of a higher salary. It isn't about robbing Peter to pay Paul, rather I'll continue to pay you in retirement in exchange for less money today.

Pensions ARE regulated (obviously not enough) in order to qualify for preferential tax treatment and do have some guarantee through Pension Benefit Guarantee Corp (PBGC), a govt organization. https://www.pbgc.gov/about/new-to-pbgc The problems of today are a result of three issues primarily, two of them are related to corporate greed. First, in an effort to maximize corporate profit, the companies have been using creative actuarial and accounting assumptions related to life expectancy etc. resulting in severe underfunding of the obligation. Second, as companies get bought by other (sometimes smaller and more leveraged) groups, the buying group raids the pension to help fund their purchase. That part is really just theft. Third, the funds that have been set aside to fund the obligation are generally invested in safe, mostly govt backed investments. Treasuries just don't pay near the return that the actuaries have assumed.

So, for those who are cool with less regulation of corporations and maximizing profit. Enjoy the mess because it is largely on your shoulders.

[futbolhead]

Double post

[garhkal]

Originally Posted by WTF

http://www.msn.com/en-us/money/retir...N&ocid=U221DHP


The face of America's pension crisis


Pensions get approval to slash benefits

In 2014, Congress passed a law that would allow pensions to do the once unthinkable: cut benefits to current recipients in order to stave off a crisis.

.

This is why i feel NO POLITICAN should be allowed to draw a pension, especially after only serving one term in office. THEY SHOULD ALL be on Social Security like every other working person..

[Mr MojoRisin]

Originally Posted by garhkal

This is why i feel NO POLITICAN should be allowed to draw a pension, especially after only serving one term in office. THEY SHOULD ALL be on Social Security like every other working person..

Not every working American will draw social security. Police, Fire Fighters and Teachers won't just to name a few. I agree Politicians shouldn't draw a pension since they don't put in the years to qualify for a pension. But they are members of an elite clique and we aren't.


Jim

[LexusLover]

Originally Posted by Mr MojoRisin

It's called "borrowing from Peter to save Paul". Jim

House builders know all about that ....

[LexusLover]

Originally Posted by Mr MojoRisin

Not every working American will draw social security. Police, Fire Fighters and Teachers won't just to name a few. I agree Politicians shouldn't draw a pension since they don't put in the years to qualify for a pension. But they are members of an elite clique and we aren't.


Jim

Jim your facts aren't exactly correct re public servants & Medicare.

[IIFFOFRDB]

[WTF]

Originally Posted by LexusLover

Jim your facts aren't exactly correct re public servants & Medicare.

You know all about police pensions...please tell us about fight going on presently in Houston on this matter.

[WTF]

Originally Posted by futbolhead

Pensions have been used for decades by companies as incentive to attract employees to work for them in lieu of a higher salary. It isn't about robbing Peter to pay Paul, rather I'll continue to pay you in retirement in exchange for less money today.

Pensions ARE regulated (obviously not enough) in order to qualify for preferential tax treatment and do have some guarantee through Pension Benefit Guarantee Corp (PBGC), a govt organization. https://www.pbgc.gov/about/new-to-pbgc The problems of today are a result of three issues primarily, two of them are related to corporate greed. First, in an effort to maximize corporate profit, the companies have been using creative actuarial and accounting assumptions related to life expectancy etc. resulting in severe underfunding of the obligation. Second, as companies get bought by other (sometimes smaller and more leveraged) groups, the buying group raids the pension to help fund their purchase. That part is really just theft. Third, the funds that have been set aside to fund the obligation are generally invested in safe, mostly govt backed investments. Treasuries just don't pay near the return that the actuaries have assumed.

So, for those who are cool with less regulation of corporations and maximizing profit. Enjoy the mess because it is largely on your shoulders.

All correct.



.

[Mr MojoRisin]

Originally Posted by LexusLover

Jim your facts aren't exactly correct re public servants & Medicare.

If they are members of a State Retirement system they won't draw Social Security and they have to apply for Medicare after retirement.

Jim