I think it means, if it passes, Bubba will have to pay this orphan's pension.
I'll be looking over my shoulder just in case he gets another bus ticket to the beach.
Yellow | Help for our Pensions still on track !!!
- Thread starter sundrop03
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I'll be looking over my shoulder just in case he gets another bus ticket to the beach.
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The way I read it they guarantee solvency to something like 2050, so I guess it depends how old you are and whether or not you expect to live beyond that date. What would happen then is unknowable.
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Regardless of whether the private union pension tab forced on taxpayers is $86 billion or much larger, this bailout would not come close to making plans solvent. According to the Pension Benefit Guaranty Corporation (PBGC), the 50 plans with the highest levels of underfunding have $372 billion in combined underfunding, with total underfunding amounting to $673 billion.6
Pension Benefit Guaranty Corporation, “Data Table Listing,” Table M-12, Concentration of Underfunding in PBGC-Insured Plans (1990–2017) Multiemployer Program.
The proposed $86 billion would be just a partial stop-gap until 2052, at which point most plans that received taxpayer bailouts will still fail, leaving current workers who will be retired in 2052 and beyond with pennies on the dollar in promised pension benefits.
Moreover, this bailout only covers the tip of the union pension iceberg as 96 percent of all workers with multiemployer pension plans have plans that are less than 60 percent funded, and 75 percent have plans that are less than 50 percent funded.7
Pension Benefit Guaranty Corporation, “Data Table Listing,” Table M-13 Plans, Participants, and Funding of PBGC-Insured Plans by Funding Ratio (2017), Multiemployer Program.
It is only a matter of time before virtually all union pension plans fail and this bill—needing to conform to the limits of the reconciliation process necessary to pass this partisan package—only modestly kicks the can down the road with selective bailouts. In an analysis of a prior version of this union pension bailout, the CBO concluded that once taxpayer dollars dry up, the overwhelming majority of plans would still become insolvent.8
What Taxpayers, Workers, and Retirees Need to Know About the Union Pension Bailout That Has Nothing to Do with COVID-19
Across the United States, 10.8 million workers and retirees belong to about 1,400 multiemployer (union) pension plans.REF These plans are massively underfunded—having promis
www.heritage.org
I did not know that but that sounds great!
I hope to be around....God willing!
I guess that makes a lot more sense! I thought that 80 billion sounded way too small. Well I guess retirement will be a little more enjoyable than!Regardless of whether the private union pension tab forced on taxpayers is $86 billion or much larger, this bailout would not come close to making plans solvent. According to the Pension Benefit Guaranty Corporation (PBGC), the 50 plans with the highest levels of underfunding have $372 billion in combined underfunding, with total underfunding amounting to $673 billion.6
Pension Benefit Guaranty Corporation, “Data Table Listing,” Table M-12, Concentration of Underfunding in PBGC-Insured Plans (1990–2017) Multiemployer Program.
The proposed $86 billion would be just a partial stop-gap until 2052, at which point most plans that received taxpayer bailouts will still fail, leaving current workers who will be retired in 2052 and beyond with pennies on the dollar in promised pension benefits.
Moreover, this bailout only covers the tip of the union pension iceberg as 96 percent of all workers with multiemployer pension plans have plans that are less than 60 percent funded, and 75 percent have plans that are less than 50 percent funded.7
Pension Benefit Guaranty Corporation, “Data Table Listing,” Table M-13 Plans, Participants, and Funding of PBGC-Insured Plans by Funding Ratio (2017), Multiemployer Program.
It is only a matter of time before virtually all union pension plans fail and this bill—needing to conform to the limits of the reconciliation process necessary to pass this partisan package—only modestly kicks the can down the road with selective bailouts. In an analysis of a prior version of this union pension bailout, the CBO concluded that once taxpayer dollars dry up, the overwhelming majority of plans would still become insolvent.8
What Taxpayers, Workers, and Retirees Need to Know About the Union Pension Bailout That Has Nothing to Do with COVID-19
Across the United States, 10.8 million workers and retirees belong to about 1,400 multiemployer (union) pension plans.REF These plans are massively underfunded—having promis
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Suppose so.
Don't bet on that.
Razorblade
Omniscient
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Yeah, like the law that said once a benefit is earned it can't be taken away.
Biden expected to sign LTL driver pension relief package
https://s29755.pcdn.co/news/biden-expected-to-sign-ltl-driver-pension-relief-package
www.truckingboards.com
So at 65 you get 100 percent
64 is 90
63 is 81
62 is 74
61 is 67
I just wanted to verify. I know a lot of you guys are retired and this doesn't effect you. I will be 62 in July, my wife and I are fairly healthy and I would say we are in medium financial situation. I have some big decisions in next five years that is why I am trying to understand as much as possible about this whole situation!
64 is 90
63 is 81
62 is 74
61 is 67
I just wanted to verify. I know a lot of you guys are retired and this doesn't effect you. I will be 62 in July, my wife and I are fairly healthy and I would say we are in medium financial situation. I have some big decisions in next five years that is why I am trying to understand as much as possible about this whole situation!
YellowFellow
On the road
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Glad I stayed to 65 1\2.
If your health is good and your job is not so stressful that it interferes with your life too much, I think I'd hang on a few years.
I was fortunate to have my yrs, and my financial affairs were great with my life savings of $362.14.
I was not willing to start over on the bottom with a new job.
I would never considered retiring at 54, had PIE not folded.
A lot of people can't say this, but I really enjoyed my job.
seabreeze, I totally agree with you I really enjoyed working for Ryder and PIE too but had to leave to work for Roadway because I had a 1 year old son at the time. If I had $362.14 in savings then I might have retired myself. You really hit the jackpot, enjoy your retirement you earned it my brother.
seabreeze, I totally agree with you I really enjoyed working for Ryder and PIE too but had to leave to work for Roadway because I had a 1 year old son at the time. If I had $362.14 in savings then I might have retired myself. You really hit the jackpot, enjoy your retirement you earned it my brother.
Aw geez Roady, you're giving him a swelled head with all that. He's already hard to deal with after he thinks he won the LILO/Hog board conversation!!
Aw geez Roady, you're giving him a swelled head with all that. He's already hard to deal with after he thinks he won the LILO/Hog board conversation!!
Triplex, leave the poor guy alone, with his seniority he is entitled to have something swell !Aw geez Roady, you're giving him a swelled head with all that. He's already hard to deal with after he thinks he won the LILO/Hog board conversation!!
Don't pay any attention to Tri, he wouldn't know if a hog board bit him in the butt.Triplex, leave the poor guy alone, with his seniority he is entitled to have something swell !
I'd try to explain the difference between a slide, a preference, or a clearing board, but it would give him brain farts.
Triplex, leave the poor guy alone, with his seniority he is entitled to have something swell !
If he got something to swell at his age he could make a fortune selling whatever it was that got it to happen.
Ha, I was playing on a slide at the park long before I drove a truck! And my preference was for Wheaties over Frosted Flakes (no pun intended). And my brain farts never stunk up the cab.
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