Ill have to read more about this.. Key lawmakers seek pension changes WASHINGTON: AP: Key law-makers weighed legislation to permit a reduction of benefits for up to 1 million retirees at economically distressed multi- employer pension plans, officials said late Monday as Congress labored over a $1.1 trillion measure to keep the government operating past midnight Thursday. The officials said the goal of the secretive pension talks was to preserve benefits as much as possible and avert bankruptcies at troubled plans that could in turn endanger the stability of the federal Pension Benefit Guaranty Corp . So it appears that our govt guarantees pensions (and is funded by the companies whose pensions they guarantee) but the govt doesnt have the money to pay the pensions when companies default. So they allow the companies to cut pensions to the workers...To me, a guarantee shouldnt work that way and is actually a guarantee of nothing. But thats typical of our govt - and they waste enough money with earmarks and out-of-control spending to be able to avoid these problems! And we certainly dont want to endanger the stability of of a govt program that isnt stable enough to perform its purpose. Hmmmm. The older I get, the less I understand things...
Posted on: Tue, 09 Dec 2014 12:19:47 +0000
Trending Topics
Recently Viewed Topics
© 2015