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Thread: AS I stated Major pension crisis starting in 2017

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  1. #1

    Default AS I stated Major pension crisis starting in 2017

    Get ready 2017 will be the start of big pension problems.




    Philadelphia’s $5.7 billion ‘quiet crisis’


    http://www.cnbc.com/2016/02/19/phila...et-crisis.html


    New York City’s Pension System in Danger of ‘Operational Failure,’

    New York City’s pension system, which encompasses $160 billion in retirement funds, is rife with problems that leave it vulnerable to an “operational failure,” according to an independent report commissioned by the city comptroller’s office.

    http://www.nytimes.com/2016/01/27/ny...says.html?_r=0


    Despite tax hike, Chicago still faces huge pension fund gap

    http://www.cnbc.com/2015/11/10/despi...-fund-gap.html



    "I Guess It's Food Stamps": 400,000 Americans In Jeopardy As Giant Pension Fund Plans 50% Benefit Cuts


    http://www.zerohedge.com/news/2016-0...lans-50-benefi
    Last edited by Silver and Gold; 02-20-2016 at 12:42 AM.

  2. #2

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    Teamsters’ Pension Fund Warns 400,000 of Cuts


    http://www.nytimes.com/2015/10/07/bu...0-of-cuts.html

  3. #3
    Join Date
    Sep 2012
    Posts
    7,257

    Default

    Yea Gee ……….
    Just one example of our system’s endless “Promises to Pay” are now beginning to NOT PAY??
    Imagine that ………
    Pensions, Social Security, Stocks, Bonds, Currency ……………
    All Promises to Pay …
    And Promises >> They’re made to be broken.
    Slowly but surely imploding our way to one giant steaming pile of broken Promises.

    The Tinfoil Hat wearing "Collapse" >> If you pay enough attention we're watching it happen right in front of our eyes daily.
    Slow motion collapse.
    Enjoy the Show.
    Last edited by joeinnj; 02-20-2016 at 01:00 AM.

  4. #4

    Default

    Where are the Union Reps?

    LOL
    Honor for US, Justice for Our Children! Now!

  5. #5

    Default

    Quote Originally Posted by Chump Change View Post
    Where are the Union Reps?

    LOL
    took the money and ran

  6. #6

    Default

    Quote Originally Posted by yellowsnow View Post
    took the money and ran
    Seems to be what "they" all do...cowards and criminals

    Some of the retirees are going to have difficulty. They received promises they should have never received, they trusted their particular labor unions along with their employers to negotiate pay and retirement packages that were sustainable. Most only wanted a job and whatever came along with that was good enough. If it was sold as being long term and all the projections indicated it was long term, well then, who's to say otherwise.

    We are in different times now that weren't a vision back in 1950 or 1960. The main stream still doesn't see, today in the 2010's, what many of us have seen for decades.

    Retiree's today are the tip of the spear

    We should really all pay attention
    Honor for US, Justice for Our Children! Now!

  7. #7
    Join Date
    Feb 2012
    Posts
    2,575

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    Quote Originally Posted by yellowsnow View Post
    took the money and ran
    https://www.youtube.com/watch?v=-WCFUGCOLLU

  8. #8

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    Quote Originally Posted by Silver and Gold View Post
    Teamsters’ Pension Fund Warns 400,000 of Cuts


    http://www.nytimes.com/2015/10/07/bu...0-of-cuts.html
    yes, i saw the writing on the wall back in the 70's when i was a teamster local 100 with roadway and ups in the Cincinnati area. those running the teamsters and other unions were then and are now liars just like the politicians that they are sleeping with.

  9. #9

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    Rich countries have a $78 trillion pension problem



    Dreams of lengthy cruises and beach life may be just that, with 20 of the world's biggest countries facing a pension shortfall worth $78 trillion, Citi said in a report sent on Wednesday

    http://www.cnbc.com/2016/03/16/rich-...n-problem.html

  10. #10

    Default

    Would it not be best to draw the Lump Sum and roll over into self controlled IRA on day of retirement?

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