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Ge To Freeze Pensions For About 20,000 Employees, Stock Surges

jimmy g said:
Do they Want to, or Have to? Pensions are a money loser, to a corporation.
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It ensured loyalty to the company everyone used to have pensions now you get to work until you die. Most people are not disciplined enough to save for their own retirements especially if you make less than $75,000. How are you supposed to save 20% in a 401k or IRA you need the money to live on now.
 
Jaloc said:
It ensured loyalty to the company everyone used to have pensions now you get to work until you die. Most people are not disciplined enough to save for their own retirements especially if you make less than $75,000. How are you supposed to save 20% in a 401k or IRA you need the money to live on now.
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What? That’s just retarded. I know plenty of people that retire on a 401k. To say that you can’t is ignorance.
 
SAC75 said:
What? That’s just retarded. I know plenty of people that retire on a 401k. To say that you can’t is ignorance.
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There’s a difference of opinion on that. I also know people who have retired on a 401(k) only.......and one bad medical experience shot down all their planning.

There are commercials on TV about “running out of money during retirement “........
If it doesn’t happen,.....why are they making commercials about it?

Kind of hard to run out of money with a defined-benefit pension......unless Congress colludes with Union “ leadership”.....to cut your benefit.
 
canaryinthemine said:
There’s a difference of opinion on that. I also know people who have retired on a 401(k) only.......and one bad medical experience shot down all their planning.

There are commercials on TV about “running out of money during retirement “........
If it doesn’t happen,.....why are they making commercials about it?

Kind of hard to run out of money with a defined-benefit pension......unless Congress colludes with Union “ leadership”.....to cut your benefit.
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Weird, my dad and all of his brothers and sisters retired on a 401k. I’m in central states. You know, the pension fund that’s going bankrupt in the next couple of years. Tell me again how it’s hard to run out of money on a defined-benefit pension. Enron ring a bell for ya? my grandpa had a pension threw them and got his pension cut to 1/3. Didn’t your pension get cut. Your fund is proof you are wrong.
 
SAC75 said:
Weird, my dad and all of his brothers and sisters retired on a 401k. I’m in central states. You know, the pension fund that’s going bankrupt in the next couple of years. Tell me again how it’s hard to run out of money on a defined-benefit pension. Enron ring a bell for ya? my grandpa had a pension threw them and got his pension cut to 1/3. Didn’t your pension get cut. Your fund is proof you are wrong.
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Yes, my pension got cut.......but I’ll have a monthly check until I die,.....and then my wife will have it. I don’t have to worry about a nest-egg in the hands of unscrupulous people.
I will just adjust my style of living......Frankly, I planned on a potential cut.
At a certain point, the PBGC is responsible for my pension. I will have a legal claim,.....along with thousands of others,....if they don’t fund PBGC....
And.....the politicians will take the heat for thousands of lost pensions.....

But,.....a friend of mine retired because he was worried about his health on the job......Not quite SS,.....
Diagnosed with cancer........In the process of blowing through his nest-egg.....
He will be left with Social Security only......

Medicare for All would sure help him.....
 
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