Home Forums Hunting & Shooting Hunter's Campfire The Pension Bomb . . .

Ask the globalist. But from what I understand we have a president actually trying to curb the influx of illegals from entering this country.

if everybody would start smoking more pot, the pension problem would be up in smoke

back in 70, 71, & 72 i would have bought a new chevy. but the prices were up, and the pay the gov't was giving me was a bit less than what i would have needed.

what we've got is a gov't that has misallocated our precious resources.

i'm hopeful trump and his supporters can get us back on tract.

When my dad retired at age fifty-five, after thirty years in the Teamster's Union, he applied for his pension. They told him it was all gone. He went back to work for another thirty years and quit when he was eighty-five.

All retirement plans should be Defined Contribution. Defined Benefit plans should be illegal.

I was a Teamster just long enough to get fully vested. I've been drawing it for 5 years now. It depends on which conference you're in. Some are pretty solid, others are belly up.

In 1988 I quit Olin after 4 years and I was promised $200/month pension from Olin aerospace when when I reached 65 in 2016.
When I contacted them in 2016, they pretended I had never been there. Then I produced some of their 1988 paperwork and they admitted I had $200/mo coming. When the checks arrived they were $67/month.
I called and they said there had been an error in my payment calculation for 28 years, but the new correct amount is $67/month.

The difference is not worth me fighting over, but it does look like they can promise one thing and deliver another.

All I know is I've never had a pension in the private sector. I've worked awful hard building up my 401K and that, and the value in our house is all we have, but it's ours and won't be raided. I stayed very conservative on my investments, and pray that the market doesn't go belly up in the next 10 years. I'm 55 now and will retire at 65, hopefully with my investments intact.

Government spending is the problem. Imagine the caravan from Central America. We are threatening to cut off foreign aid to those countries. Money we are borrowing from China, that our children are going to have to pay back. What a country, we have to import people to put on welfare. If It wasn’t happening I would not believe this KRAP was possible. Hasbeen

Just cut the money off, then we have money to build a wall to keep those pieces of cshit out.

If you are on the taxpayers dole, I agree. I also believe Social Security should be privatized.

easy way is to stop pensions all together. Make everyone go with a 401K type thing. Dump public employee pensions totally. Put them on a par with everyone else. They pay part of THEIR salary into a 401K. Screw this making millionaires out of garbage men, teachers and firemen.

long but interesting article on Kentucky's hail mary attempt to save their underfunded pensions during the financial crisis and how they got suckered

its a bad situation where one state pension is only 16% funded. Of course the legislature pension is still funded at 86%

https://theintercept.com/2018/10/21/kentucky-pensions-crisis-hedge-funds/

Of course.

If the actual cost of this was known to the general public, it would have been stopped long ago.

They're not making millionaires of too many garbage men. Most of those high dollar pension funds are in large cities with strong public employee unions. The plans are unfunded or at least way underfunded. They're millionaires on paper only and that doesn't spend very well.

Mine is fully funded, company can't touch it. A stock market wipeout might put a dent in it but nothing else

it was all a good idea at the time, like vietnam early on. sweep up unemployed young men and teach them to fight the commies in that dirty little southeast asian war.

what could possibly go wrong with such a grand plan?

The company I worked for offered a 401 K matching up to 6%. You could contribute (or not) up to 10% of your salary which I did.
I controlled "MY" money and nobody stole a dime of it. I still have every penny of it which I had to roll over to an IRA when I retired.
Still making money off the dividends.
I realize it ain't some high end pension but I did the best I could with what was offered and I'm getting along fine and am beholding to no one.

Met a guy working next door who was doing a bit of work for a couple of women - I forget who he worked for but he had to start paying 1 1/2% towards his own pension and lost his mind over it . He sued the county or state - decided he didn't need an attorney - went into court - judge threw the case because he didn't have the paperwork filled out correctly . Boiling mad over the court costs he corrected the paperwork thinking he had it all straight now - judge threw it out of court again - now paid court cost twice , seems like it was several hundred dollars each time . He was going back for thirds and I cheered him on .

He thought I was on his side until I asked him why he thought people like me should pay for his retirement and healthcare - he about had a heart attack -turned red and could barely speak he was so mad . I said - how about you pay for my retirement & heathcare I didn't get the care in healthcare out of my mouth and he yelled I'm not paying for your F'n retirement staring all wild eyed crazy .