Lions Posted October 8, 2015 Share Posted October 8, 2015 Hopefully this isn't a sign for the future.... Quote Link to comment Share on other sites More sharing options...
Lions Posted October 8, 2015 Author Share Posted October 8, 2015 http://www.freep.com/story/money/personal-finance/susan-tompor/2015/10/07/teamsters-pension-cuts-central-states/73515432/ Quote Link to comment Share on other sites More sharing options...
chassisgroupleader Posted October 9, 2015 Share Posted October 9, 2015 If this happened to me I would go Ballistic! Quote Link to comment Share on other sites More sharing options...
Tier2 Posted October 9, 2015 Share Posted October 9, 2015 This is why a 401k with a company match is better. Quote Link to comment Share on other sites More sharing options...
sparks will fly Posted October 9, 2015 Share Posted October 9, 2015 This is why a 401k with a company match is better. Oh yes because I TRUST Wall Street. 1 Quote Link to comment Share on other sites More sharing options...
trailfndr Posted October 9, 2015 Share Posted October 9, 2015 401 in the view of most major economists, is a BAD pension plan due to the volatility of the market. What we need in this country, are laws that force those companies that give a pension to fully fund them each and every year. Most plans are so underfunded that its easy for them to fail. I would never trust wall street with my retirement. It is a must to have multiple sources of income once you stop working. 2 Quote Link to comment Share on other sites More sharing options...
Decker Posted October 9, 2015 Share Posted October 9, 2015 (edited) Good points trailfndr, but as the Teamster pension fund as of just lately proves under funding is the way forward for the pension system. You do realize that its the law makers that have put in place the laws that have made it possible for any reason under the sun to pick up a ladle and dip out whatever is needed to fund anything else, is what is being done year after year to the social security fund. This being the model (social security) for most if not all pension funds, it puts into place the same methods that social security is being administered. So this under funding should not come as a big surprise for the pension funds that are governed and guaranteed by the same law makers. The big three and Deere, Navastar etc..... have found ways to not fully fund the pension funds they administer for years. Every reason under the sun to say....we fill be completey funded by the year 2000, 2005, 2010 etc.... After the last four years of record profits why aren`t the pension funds fully funded? It`s not a law that they have to be? Nope, the people in pension funds don`t rank high enough on the law makers concern list. Decker Edited October 9, 2015 by Decker Quote Link to comment Share on other sites More sharing options...
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