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I am simply going by your own words. No one here is as upset as you about the government not stepping in to save the pensions. Who do you think is more likely to do it, the left or the right? Obviously the left, so my advice to you is to vote left, and you might get what you want.
Last edited by Finn_Jarber; 12-21-2014 at 05:05 PM..
I like how the republicans constantly talk about reducing the deficit, yet 50% of it goes to social security and medicare. While I do believe that the retirement age should be raised (or at least proportional w/the median age), I do disagree w/ Obama on this.
It seems some people don't grasp what's going on here.
A PENSION, by definition, depends upon future viability of the company, future profits and return on investments to function. If the company fails, or if the investments don't return what's predicted, then the funds are insufficient to pay the defined benefits.
Everyone in this program is actually receiving a gift. Their plans had ALREADY failed. The funds paid into are less than the outgo. So, the shortages will be divided among the recipients.
Government cannot "make up" the difference. The federal government alone already has more than 100 TRILLION dollars in future liabilities, so, those on the federal spending programs are going to have to have their 'benefits' cut as well. Either way, it will happen. Either the estimated raw dollar amounts are reduced, or borrowing or raising taxes will have to happen. If the government borrows, inflation will reduce the buying power of the "benefit" to probably less than it would be, had they just cut benefits. If they tax more, the economy will tank, adding recipients and reducing the number of payers.
This is why anyone with an IQ above refrigerator temperature does not want a "pension", they want their own retirement, which they own, control, plan, and manage.
No, they WILL be cut, because those pensions no longer exist. Why? Read on.
No, they were "cut" long ago and don't actually exist AT ALL. All these people's pensions failed already.
Has nothing to do with "liking". It has to do with the fact that the fund for these is way oversubscribed.
Your cut will be ZERO unless your employer's pension failed already.
They failed precisely because profits have declined and the funds have stopped earning.
You are dead wrong. There are not enough Union workers to fund the pensions. I know somewhat about unions. If a person works for a few years and leaves, that money they put in is lost and the money that there employer put in is lost to them. They get no benefits. If many workers are waiting to collect and have put their time in , say 20 years , and they move on to another job, they will get a pension when they hit a certain age , not before. If they continue to work for that Union and put in 30 years and they can collect their pension early they will get a reduction , but only if they attain a certain age. It is similar to Social Security . One can work more years and get a higher amount of money , or collect at 62 with a reduction .
The problem is, there are not enough Union workers to put into the fund , because many unions have had job loss because of people hiring illegals. Now even the workers waiting to collect their pensions can see a drastic decrease as their funds dry up because of illegals or cut backs from the housing industry and the recession. Not a good time to hire illegals yet many people do to save a buck. Thank Obama!
It seems some people don't grasp what's going on here.
A PENSION, by definition, depends upon future viability of the company, future profits and return on investments to function. If the company fails, or if the investments don't return what's predicted, then the funds are insufficient to pay the defined benefits.
Everyone in this program is actually receiving a gift. Their plans had ALREADY failed. The funds paid into are less than the outgo. So, the shortages will be divided among the recipients.
Government cannot "make up" the difference. The federal government alone already has more than 100 TRILLION dollars in future liabilities, so, those on the federal spending programs are going to have to have their 'benefits' cut as well. Either way, it will happen. Either the estimated raw dollar amounts are reduced, or borrowing or raising taxes will have to happen. If the government borrows, inflation will reduce the buying power of the "benefit" to probably less than it would be, had they just cut benefits. If they tax more, the economy will tank, adding recipients and reducing the number of payers.
This is why anyone with an IQ above refrigerator temperature does not want a "pension", they want their own retirement, which they own, control, plan, and manage.
No they didn't fail yet. They are projected to fail. They still have 8-10 years left.
The democraps needed the money to pay for the legal services, free cell phones, schooling, welfare, handouts and benefits for their future illegal alien voters. Reducing the pensions of americans freed up lots of money to import via bus or plane millions more from central america.
Is there something about the term " bipartsan" that is lost on some ?
You are dead wrong. There are not enough Union workers to fund the pensions. I know somewhat about unions. If a person works for a few years and leaves, that money they put in is lost and the money that there employer put in is lost to them. They get no benefits. If many workers are waiting to collect and have put their time in , say 20 years , and they move on to another job, they will get a pension when they hit a certain age , not before. If they continue to work for that Union and put in 30 years and they can collect their pension early they will get a reduction , but only if they attain a certain age. It is similar to Social Security . One can work more years and get a higher amount of money , or collect at 62 with a reduction .
The problem is, there are not enough Union workers to put into the fund , because many unions have had job loss because of people hiring illegals. Now even the workers waiting to collect their pensions can see a drastic decrease as their funds dry up because of illegals or cut backs from the housing industry and the recession. Not a good time to hire illegals yet many people do to save a buck. Thank Obama!
It does not sound like you know much about it since you think you have to be a union worker. I have never been a part of any union, but my past employers have invested into these muti-empoyer pensions.
It does not sound like you know much about it since you think you have to be a union worker. I have never been a part of any union, but my past employers have invested into these muti-empoyer pensions.
You do have to be a union worker to contribute to a union pension.
Not all workers for a company belong to a union but any company that hired those specific union workers does have to contribute to a multi-union pension plan for those workers.
Taratova, Pensions in private sectors whoosh are not solvent should be able to right-size the obligations, no matter how much the retirees think of themselves as sacred cows.
I am simply going by your own words. No one here is as upset as you about the government not stepping in to save the pensions. Who do you think is more likely to do it, the left or the right? Obviously the left, so my advice to you is to vote left, and you might get what you want.
I never once said the government should step in to save the pensions... the government voted to cut pensions. The government(Obama) also welcomes illegals to take jobs from Union workers. Obama contributed to the demise of the unions to not be funded to handle the pension payouts and Obama's lack of action caused their shortfall. Obama is a real piece of work. His favorites are the illegals. That is easily seen. Think deeper. YOu can do it.
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