Freightmaster1
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http://wfc2.wiredforchange.com/o/8438/p/dia/action3/common/public/?action_KEY=9854
Do it today! You can make a difference!
Do it today! You can make a difference!
Yellow | Tell Congress: Don’t cut a last-minute deal to cut retirees’ pensions
- Thread starter Freightmaster1
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Not that I disagree (I already called mine)... What is your solution? Supposedly Central States fund can run out in 7 years? What happens when no one gets anything? Congress isn't coming to bail us out. The USA is broke too...
I don't pretend to know the answer but I sure as he'll don't think allowing Trustees the right to cut at will is a good idea! How will a person ever retire if they don't know what their income will be tomorrow
Do you really think it will be there tomorrow? Or worth anything tomorrow? Central States has 410,000 members.. If there's 18 billion in it, that's $43,902 lump sum a person. Not enough to retire on....
The problem is that many retirees are not able to start over again...many are in less than good health.....and ALL of them fufillled
their end of the deal, as it were. They should not lose what they have truly earned... There are ways to address the issue without cuts to
retirees .... What we lack is the will and motivation as a Nation to do anything other than cut peoples pensions...... Take the easy way out..... Cut and take from those older ones among us that earned those pensions and depend on those earned pensions.. Shameful......
their end of the deal, as it were. They should not lose what they have truly earned... There are ways to address the issue without cuts to
retirees .... What we lack is the will and motivation as a Nation to do anything other than cut peoples pensions...... Take the easy way out..... Cut and take from those older ones among us that earned those pensions and depend on those earned pensions.. Shameful......
I hear ya. But you aren't offering a solution. I am against rushing things thru. But there isn't enough money to pay the promises for very long. You could put off the solution and end up with zero...
I'll just grab one problem for ya that needs to be addressed. You don't have to be a Rocket Scientist to see a problem here
PGBC:
The per-participant flat premium rate for plan years beginning in 2015 is $57 for single-employer plans (up from a 2014 rate of $49) and $13 for multiemployer plans (up from a 2014 rate of $12). For information about future rates, see Scheduled Increases for years after 2015 section below.
OK, where will that money come from? PGBC is almost broke. The employers are broke enough to not pay. The USA is broke, officially 18 trillion in debt with 127 trillion more in promises. (Only 60 trillion in all the world's wealth combined). I agree, you can identify problems. Where are you getting the monetary solutions?
True.. I didn't specify a specific solution at the moment...and I too am against the idea that this must be rushed through right now... There is still time to come up with a better solution than this.... and the fact that they are rushing it quietly through indicates that this is what they want and aren't interested in a better solution.... I understand something needs to be done....but it should involve a little more critical thinking than "hey...lets cut the retirees pensions"...... Btw Jimmy, I like your new avatar....
its the 1889 model Remington double barrel I inherited from my Dad. Serial number confirmed by Rem to have been manufactured in 1898. I use RST Ultralite shells so it doesn't blow up.
I'm against all omnibus bills. Always. Each bill should always stand or fall on its own merits. And Ben Franklin wanted each bill to be debated for a full year before being voted on.
The fact that a powerful Dem is agreeing shows this must be desperation time for pensions. I don't like it, I'll never get to retire if it passes. But I don't like Zero even less, and that's what I'll end up with. From the pension, and SSI too. The math shows the money isn't there....
Congress is going to get it out of the pockets of retired peoples pensions and I'm not ok with that!
Here we go again. (Same as the wage concession)... How does one get money that A: doesn't exist, and B: wasn't paid? You sure you aren't a Washington Accountant?????
I know you want solutions and not blame but............... Did you know the reason congress set such a lower premium for the MEPFs is because in it's infinite wisdom the MEPFs were more secure and in lesser need of PBGC protection
What is your solution ?
I've written it. Too many threads (6) for one subject. Combination of mergers and, yes, cuts, and no reemployment rules. Plus lump sum buyouts. All privately negotiated. Not the business of Federal Government to be involved....
Starkravinloon
Hero's Falling At Home
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But this Congress is running outta time to finish the screwups they intended from the start.. So they must move hastily... You sure don't see the President standing up for pensions and such, he's busy with causing race riots and such...
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Thats why we are trying to get the word out about the Pension reform bill that is being attached to this appropriations bill so as to slide it in and us getting screwed.....they DO NOT want to shut down the government again, and do not want to be the ones to do so, therefore why care if a bill is applied that has to do with mostly UNION pensions?.....KK
The Feds regulated and created most of the pension problems starting way back in 1959 with the Landrum-Griffin Act. IMO most of the laws were well intentioned with the exception of Bush's PPA. But whatever the reasons congress did get us into this underfunded pension situation and it should be congress that straightens out this mess........................I welcome further Federal regulating and oversight. In no way would I trust a fair distribution of pension assets left in the hands of lawyers and fund administrators in private negotiations.
D
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Too many people are unaware of that little tidbit.