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Old 08-14-2019, 02:46 PM
 
Location: Minnesota
99 posts, read 83,882 times
Reputation: 314

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No. State of Minnesota pension. They’re good for it, and besides why fret over what one has no control over?
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Old 08-14-2019, 02:56 PM
 
3,813 posts, read 970,721 times
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Quote:
Originally Posted by VikingFan View Post
No. State of Minnesota pension. They’re good for it, and besides why fret over what one has no control over?
When speaking of pensions, they're pretty safe.

If speaking of a car skating on black ice, plenty of fretting going on.
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Old 08-14-2019, 03:02 PM
 
2,402 posts, read 840,519 times
Reputation: 6101
I'm collecting two pensions, one from a GE sub and one from a Prudential sub, each about $900/month, non-COLA. Both were cut off relatively early for reasons beyond my control; I was downsized from the Prudential sub after 10 years and the GE sub was sold off.

I'm hoping that if the PGBC ever ends up taking over either, mine will be relatively untouched because they're so small. They're below the max the PGBC will cover and hopefully any haircuts the PGBC applies if things get tough won't apply to the smaller amounts.
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Old 08-16-2019, 09:56 PM
Status: "Life is good." (set 25 days ago)
 
Location: Colorado
75 posts, read 16,930 times
Reputation: 389
Was I worried about my pension? Not until you brought it up.
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Old 08-17-2019, 10:11 PM
 
260 posts, read 126,674 times
Reputation: 590
This is about the worst thing, not just money?

I am a teacher and retired at the end of May. My husband was hospitalized in June. He became housebound except for doctor visits.

I don't really understand what happened, but it is what it is. He isn't depressed,but he is more comfortable at home. It is what it is.
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Old 08-21-2019, 11:29 AM
 
Location: Florida and New England
1,255 posts, read 1,435,609 times
Reputation: 1702
Quote:
Originally Posted by athena53 View Post
I'm hoping that if the PBGC ever ends up taking over either, mine will be relatively untouched because they're so small. They're below the max the PBGC will cover and hopefully any haircuts the PBGC applies if things get tough won't apply to the smaller amounts.
This suggests another possible fix to underfunded public worker pensions.

Although they aren't subject to the PBGC Pension Benefit Guarantee Corporation, public pensions could be managed with a similar "cap."

A maximum annual rate, perhaps set as a percentage of the local median wage, would reduce the excessive pensions and provide relief to the state and local governments that can no longer pay for past pension negotiations. Some of those agreements were made decades before the current taxpayers were even alive.

Everyone knows that reductions will have to be done in certain places (Illinois comes to mind). The optimal solution is how best to share the pain among all of the stakeholders.
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Old 08-21-2019, 12:14 PM
 
164 posts, read 72,595 times
Reputation: 618
I cannot control if the pension goes bankrupt so i am not going to worry about it. I tried to get a buyout but they said no, so I will get it every month until they are broke or I am dead.
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Old 08-21-2019, 12:20 PM
 
Location: Philadelphia/South Jersey area
2,915 posts, read 1,439,528 times
Reputation: 10317
Another No. after the Enron fiasco our union made that it's number one goal, to make sure our pension fund was over funded. now what also helps is that they ended our pension back in 2012 so basically they are just waiting for us old grandfathered folks to die. lol
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Old 08-21-2019, 10:53 PM
 
Location: Noth Caccalacca
5,696 posts, read 6,750,131 times
Reputation: 5027
Quote:
Originally Posted by eliza61nyc View Post
Another No. after the Enron fiasco our union made that it's number one goal, to make sure our pension fund was over funded. now what also helps is that they ended our pension back in 2012 so basically they are just waiting for us old grandfathered folks to die. lol

Hopefully, they won't be "actively plotting" your demise!
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Old Yesterday, 04:30 AM
 
2,467 posts, read 2,103,352 times
Reputation: 5779
Quote:
Originally Posted by eliza61nyc View Post
Another No. after the Enron fiasco our union made that it's number one goal, to make sure our pension fund was over funded. now what also helps is that they ended our pension back in 2012 so basically they are just waiting for us old grandfathered folks to die. lol
If whoever administers your pension check sends you a fruitcake for Christmas, do NOT eat it!
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