Unpopular ones in this crowd, I'm sure.
When the fund fails the PBGC can pay $35.75/mo per year of service.
For those who have entered into the plan in the last 10 years, surely they had enough sense to make additional provisions.
Yellow | What's the answer with the CSPF?
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Unpopular ones in this crowd, I'm sure.
When the fund fails the PBGC can pay $35.75/mo per year of service.
For those who have entered into the plan in the last 10 years, surely they had enough sense to make additional provisions.
Don't count on it.
mysticobra
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Hope your done. I pay dues just like you. If you pay dues still. I don't care what you think. Or how you think. You must be a yes voter and will vote for Hoffa when the time comes.
Just voicing an opinion just like you. No argument.
This will require a taxpayer bailout
Nov 17, 2014 - The Pension Benefit Guaranty Corp.'s deficit hit a record $61.7 billion in fiscal 2014,
http://www.businessinsurance.com/article/20141117/NEWS03/141119849
This will require a taxpayer bailout
Nov 17, 2014 - The Pension Benefit Guaranty Corp.'s deficit hit a record $61.7 billion in fiscal 2014,
http://www.businessinsurance.com/article/20141117/NEWS03/141119849
Not necessarily. Lower future guaranteed benefits for new plans and raise the fricken' rates for said "insurance" until the math makes sense. The actuaries need to sharpen their pencils.
I don't expect employees who aren't paying into social security to carry me when social security runs out. I've been planning for years that social security won't be around when I am of age. If it is, great, if not, bummer but at least I wasn't counting on it.
My first post in this thread I said the PGBC premiums need to be raised
I actually counted on a pension , social security , and savings then I counted on less of the first one then none of the first one then I counted on the last two! I see a trend developing here.........
Because the federal government has oversight and specific requirements on who should manage the fund for 30 or more years
Woopsmitty
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What I have stated is fact...nothing to argue about,my point is that it's nothing funny to make jokes about period. Not another guy who thinks anything other than this is AS SERIOUS AS It GETS!!!!!!!!!Why would me or anyone argue about it. Somethings are crossing the line this is one of them. I've said what I have to say, I'm done.........keep moving forward
Lazarus745
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I love how this thread turned into more name calling, belly aching, and dredging up the past. Not so much on what to do now.
Not many options here.
1. Take massive cuts now to try to string out the fund as long as possible.
2. No cuts and let the fund go broke and turn it over to the PBGC, which in turn will go broke because it does not have the funds to cover the pension even at the reduced rate.
3. Government bail out. Very long shot. Like a hope and a prayer.
4. Just work till you die.
I think for most of us it's option 4. Sorry to be the one to break it to you.
Not many options here.
1. Take massive cuts now to try to string out the fund as long as possible.
2. No cuts and let the fund go broke and turn it over to the PBGC, which in turn will go broke because it does not have the funds to cover the pension even at the reduced rate.
3. Government bail out. Very long shot. Like a hope and a prayer.
4. Just work till you die.
I think for most of us it's option 4. Sorry to be the one to break it to you.
Woopsmitty
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Ya gotta love Truckingboard!!!!!!!!!!
Sometimes you have to laugh to keep from crying.
mysticobra
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Not an option you have there in number 4
It's a fact. It's what most are living right now.
Tutone.... You can cry if you like.
No one will know.
It's a fact. It's what most are living right now.
Tutone.... You can cry if you like.
No one will know.
highheadblues
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I don't see any kind of bailout for us. The word alone is toxic to any congressman on either side. Most likely in my opinion will be some kind of solution to prop up the PBGC so it can handle the central states failure. Kind of a bailout but not a direct bailout so it will be more politically acceptable. I'd say if you can retire now do it so you can ride the gravy train for a little while anyway.
Sounds like poor planning on your part. Boy Scout motto, be prepared.
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mysticobra
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Ya... Poor planning on my part.
Hang on to your job and your paycheck for now. Better
highheadblues
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If I were 62+ I'd start drawing it right now while there's something to draw from. If you're going to keep working then why worry about the pension? Work till ya drop. Like Janis Joplin said " get it while you can "!!
And stop allocating raise % towards the pension fund, out of a $5.05 raise only $1.20 went to wages. Can't let this happen in 2019 or any mou extention again.