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Yrc People To Stupid To Understand But The Rest Of You Get Involved

Discussion in 'Central States Pension Fund Discussion' started by Roadway spy, Jul 2, 2019.

  1. canaryinthemine

    canaryinthemine Retirement....The Job I Was Born To Have!

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    I'd be more concerned with Wall Street using your 401(k) as a personal piggy bank,....because of no Government regulations protecting defined-contribution "pensions" from predatory business practices........
     
  2. SAC75

    SAC75 Well-Known Member

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    I don’t live in Argentina or Europe so I don’t care.

    Apparently the government didn’t protect our pension plans very well or we wouldn’t be having this conversation would we? Please explain how I’m wrong?
     
  3. canaryinthemine

    canaryinthemine Retirement....The Job I Was Born To Have!

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    There are Government protections on defined-benefit pensions through the ERISA Act of 1974.........However, to subvert them, a series of actions have to be taken by Government employees, Congress and the participant representatives (Teamster "leadership"..).....

    PBGC insurance has to be...de-funded,.....Congress has to pass Omnibus bills,....Teamster "leadership" has to negotiate sub-standard contracts designed to de-fund pensions......

    For a 401(k),.....all Wall Street has to do, is go: "Whoops!,.....There's a "market adjustment".....your retirement account is worth 5% less than it was last week......Sorry,.....market vagaries, you know...."....
     
  4. SAC75

    SAC75 Well-Known Member

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    Was just making a point that the government doesn’t care about pensions or 401k’s. I agree with you. I hope the government fixes it but I’m not holding my breath. I would love to retire with some security.
     
    Retread and canaryinthemine like this.

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