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But the Single Employer Pension Funds get 5 times more because their PBGC premiums are higher. Why won't Congress allow the PBGC to raise MEPF premiums and help to correct the underfunding ?
 
Crystal said:
But the Single Employer Pension Funds get 5 times more because their PBGC premiums are higher. Why won't Congress allow the PBGC to raise MEPF premiums and help to correct the underfunding ?
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Look at the party that dominates congress. Not exactly a party that's labor friendly rather the party that is dictated by the corporations . They have proven that many times over . Want labor improvement laws ? ya better remember in November .
 
It doesn't matter which party is in power. Congress has been passing big business anti labor policies for years.
 
Crystal is right, remember slick willy and NAFTA?
Our Government is like big businesses, they are going to do what WE allow them to do.
Wallstreet sold pension plans bad investments, this is a fact. What if we all stood up and demanded they they take part of their profits and fix what they broke?
 
Crystal said:
But the Single Employer Pension Funds get 5 times more because their PBGC premiums are higher. Why won't Congress allow the PBGC to raise MEPF premiums and help to correct the underfunding ?
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Who will pay the premiums?
 
spn62 said:
Who will pay the premiums?
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Every plan pays a yearly premium for each member. I guess it's a form of insurance like the FDIC. OUR MEPFs pay $12 per year per member. SEPFs pay $49 per year per member and get a guaranteed payout of 5 times what we in the MEPFs get.

PBGC receives no funds from general tax revenues. Operations are financed by insurance premiums set by Congress and paid by sponsors of defined benefit plans, investment income, assets from pension plans trusteed by PBGC, and recoveries from the companies formerly responsible for the plans.

PBGC pays monthly retirement benefits, up to a guaranteed maximum, to nearly 744,000 retirees in 4,000 pension plans that ended. Including those who have not yet retired and participants in multiemployer plans receiving financial assistance, PBGC is responsible for the current and future pensions of about 1,476,000 people. You can find out if your pension plan is insured by searching our single-employer list or our multiemployer list of defined benefit pension plans.
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How PBGC Operates
 
Crystal said:
Every plan pays a yearly premium for each member. I guess it's a form of insurance like the FDIC. OUR MEPFs pay $12 per year per member. SEPFs pay $49 per year per member and get a guaranteed payout of 5 times what we in the MEPFs get.



How PBGC Operates
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That's what I'm getting at. The increase in $$$ is going to come from the available resources, which are already in short supply. Without an influx of $$$, all of the MEPFs will need to make some uncomfortable choices. I sure don't want to see it, but that doesn't mean it isn't gonna happen.
 
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