No New Rescue Plan

Discussion in 'Central States Pension Fund Discussion' started by mud, May 19, 2016.

  1. mud

    mud Wonderin'

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  2. Bubba Gump

    Bubba Gump Active Member

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    will we have a mass exit from the fund? with a pbgc take over of the remaining assets?
    maybe Bernie Sanders will get his national pension and his single payer health care
    with help from 400,000 jilted teamsters
     
  3. mud

    mud Wonderin'

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    I will just keep putting into my savings account, the amount of my pension that was going to be cut.
     
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  4. jimmy g

    jimmy g Kook

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    When was your last Drug Test?
     
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  5. flat top

    flat top Active Member

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  6. Bubba Gump

    Bubba Gump Active Member

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    Sir; would you care to elucidate on your comment. Mr. Sanders knows his plan to raise 30
    billion from the rich has no chance of going anywhere. So he throws it out there. Lets face it fellas
    Barak Obama had both houses of congress and a filibuster proof senate and yes Mr. Nylan went
    to the Federal Government and the Democrats said no bailout for you. I have 2 web sites I frequent
    "pension tsunami" and the "buckeye institute" these might give you a better understanding about
    the total pension problem. Be forewarned you just might turn into a "ross perot pie chart populist"
     
  7. jimmy g

    jimmy g Kook

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    Long as you realize it cant/won't happen, I retract my statement, and add my apologies. The USA is more broke than CSPF...
     
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  8. Bubba Gump

    Bubba Gump Active Member

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    I believe it can't / won't happen. I believe the rich will get taxed more. but the teamsters are way down in the pecking order for any
    new tax dollars. the simple truth is between social security and 110% of pbgc the average teamster is way ahead of the average working person.
     
  9. Freightmaster1

    Freightmaster1 Well-Known Member

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  10. sthomp2000

    sthomp2000 Member

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    Nyhan, you're Fired !
     
  11. jimmy g

    jimmy g Kook

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    The Fund is 'Going to Show Us Who Is Boss'. They're gonna do nothing, let it go broke. Yeah- that'll show us!
     
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  12. Bubba Gump

    Bubba Gump Active Member

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    The social security trust fund is full of I.O.U.s, public pension funds are broker than central states. The eventual outcome is a national pension and single payer insurance. It is the only equitable solution for all Americans to get their fair share of the American Pie. We in the CSPF just got the news first.
     
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  13. pilot87

    pilot87 Well-Known Member

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    I realize it won't happen.....but I also realize that it a problem that could be solved.... We, as a Nation, could secure the pensions earned..... The problem is that the ones who control things do not want to...nor do they care about anything other than the wealthy becoming even more wealthy....

    It's about priorities and its obvious that the average working class citizens and Seniors/Retirees are NOT a priority...

    To simply say "we're broke" and its not possible to fix the pension issue isn't quite true..... ( it's an excuse, a poor one at that)..It is possible.....just not probable...... This Nations priorities are misplaced...
     
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  14. pilot87

    pilot87 Well-Known Member

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    I agree, especially with single payer, however, the issue of a National Pension, while a good idea, would have to overcome the problem that caused a large part of the problem....and that being corrupton and greed of those in control......but it's an idea in the right direction....
     
  15. Dracula

    Dracula Well-Known Member

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    They did do something. Nyhan has been warning that this was going to happen since what, 2010. Everybody, including Democrat politicians like Claire Mccaskill, who was in the Senate when Nyhan was screaming bloody murder, did nothing and have done nothing since, except to point fingers and ask for your vote. Nyhan worked with what he had left but he had to screw with the calculations so much that even the Feds couldn't choke it down and pass the rescue plan,that's saying something.The plan participants, you guys, paid no attention. It's not like this situation snuck up on you. Its been walking down the street, in plain view for years, and no questions were ever raised. You guys were high fiving each other when the last ditch last chance to save the fund plan was refused. Who showed who?
    By the way, you do have a national pension plan. It's called Social Security and the politicians, regardless of party affiliation, will never let it go dry. They'll just take more out of your paycheck.
     
    Last edited: May 29, 2016
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  16. jimmy g

    jimmy g Kook

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    Don't say 'You' high five when it was denied. I was FOR the cuts.
     
  17. Dracula

    Dracula Well-Known Member

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    exception noted and my apologies. However, "They're gonna do nothing, let it go broke." Short of a bailout that's exactly what is going to happen. No politcian has the guts to stand up and demand a bailout. They'll shore up PBGC but that's about it. Everyone,who sat on the sidelines while Nyhan was warning about the probable failure of the plan owns some part of the blame.
     
  18. SuperCourse

    SuperCourse Well-Known Member

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    Pension Funds Pile on Risk Just to Get a Reasonable Return

    Thanks to rock-bottom interest rates in the U.S., negative rates in other parts of the world, and lackluster growth, investors are becoming increasingly creative—and embracing increasing risk—to bolster their performances.

    To even come close these days to what is considered a reasonably strong return of 7.5%, pension funds and other large endowments are reaching ever further into riskier investments: adding big dollops of global stocks, real estate and private-equity investments to the once-standard investment of high-grade bonds. Two decades ago, it was possible to make that kind of return just by buying and holding investment-grade bonds, according to new research.

    http://www.msn.com/en-us/money/savi...sk-just-to-get-a-reasonable-return/ar-BBtHGEl


    This is how The Federal Reserve is hurting most of us. The workers, the savers, people who were promised pensions. The Federal Reserve........abolish it.
     
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  19. Dracula

    Dracula Well-Known Member

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    Then how do you explain the success of the Western States Pension Plan?
     
  20. ABFer

    ABFer Super Moderator Staff Member

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    The same way you explain why one guy on the boat catches all the fish when you're all in the same area with the same bait.

    Or you might claim different investment strategies and a more diversified participant base.
     

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