Archived Pensions may be cut to 'virtually nothing' for 407,000 people (money.cnn.com)
submitted ago by sturle
Posted by: sturle
Posting time: 4.5 years ago on
Last edit time: never edited.
Archived on: 2/12/2017 1:51:00 AM
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Archived Pensions may be cut to 'virtually nothing' for 407,000 people (money.cnn.com)
submitted ago by sturle
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[–] 5263439? ago
This is a private pension company...
[–] gota_party 0 points 1 point 1 point (+1|-0) ago
"Defined benefit" is the key issue though.
Apparently Bernie thinks it's a government scheme, which requires action in the form of a law named "Keep Our Pension Promises Act". I wonder if he would keep the promise he made for the person I bought my car from, so I don't need to pay what I promised.
[–] daskapitalist ago
As is inevitably the case, private* pension company needs a boatload of asterisks.
From the article:
"Only government funding, either to the Central States Fund directly or through the PBGC, can fix the problem, he said"
[–] 5263657? ago (edited ago)
Private as in failed.
Oh well. The market will decide which pensions survive. Pensioners can eat dog food. Better they starve than the government step in, am I right?