The Cost Of Insolvency

Freightmaster1

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Check out this posting on Politico's website this morning...

THE COST OF INSOLVENCY: If a bipartisan congressional supercommittee doesn’t reach consensus on how to fix insolvent multiemployer pension plans--and it’s nowhere close to one now--a default by the Teamsters' Central States Pension Fund could cost 55,000 jobs, drain the Treasury of $1.2 billion in tax revenue, and suck $5 billion out of the GDP, says a new report penned by former House Ways and Means committee economist Alex Brill and sponsored by Protect Our Workers Earned Retirement (POWER!). Without a legislative fix, Central States is projected to go bust within seven years.

Here's a couple of links to the POWER report...
https://www.powrnow.net/wp-content/uploads/2018/08/POWER-Coalition-Statement-8-31-18.pdf

and
https://www.powrnow.net/wp-content/uploads/2018/09/2018-AB-Report.pdf
:hissyfit:
 
They can bailout banks and GM they can bailout pensions too! UPS should have never been allowed to leave the fund.
 
They can bailout banks and GM they can bailout pensions too! UPS should have never been allowed to leave the fund.
Woulda coulda. You're a decade too late, and not living in reality. Ten years ago CSPF had $23 billion. Today, barely $14 billion. Can't beat Math.
 
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