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Thread: AS I stated Major pension crisis starting in 2017

  1. #21
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    Quote Originally Posted by yellowsnow View Post
    Unlike Russia, the U.S. Government Won't Take Your Pension Outright? (2014)
    http://www.bloomberg.com/bw/articles...he-u-dot-s-dot
    I didn't read the link no (I refuse to give Agents of the Government like "Bloomberg" clicks) yet will the "Capitalists" U.S. Government take your Pension / Retirement account??
    Bet your last "earned" bit of wealth they most certainly will.
    Obozo's "MyIRA" was the "tell" (They always do "tell" of what's to come. Most are just too stupid and distracted o remember tho).
    "Nationalization" of pension and Retirement Funds is the mouth watering low lying fruit to the dying & broker than broke desperate West.
    U2 will be eventually "Nationalized" and forced into Government Bonds for your retirement "savings".
    AFTER a teach you a lesson MAJOR Equities (as designed) Crash that is.
    "You're just too dumb to manage YOUR Wealth" can't ya see that now??
    "We are the Gov and we're only here to help you"
    Last edited by joeinnj; 02-28-2016 at 01:52 AM.

  2. #22

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    Quote Originally Posted by joeinnj View Post
    I didn't read the link no (I refuse to give Agents of the Government like "Bloomberg" clicks) yet will the "Capitalists" U.S. Government take your Pension / Retirement account??
    Bet your last "earned" bit of wealth they most certainly will.
    Obozo's "MyIRA" was the "tell" (They always do "tell" of what's to come. Most are just too stupid and distracted o remember tho).
    "Nationalization" of pension and Retirement Funds is the mouth watering low lying fruit to the dying & broker than broke desperate West.
    U2 will be eventually "Nationalized" and forced into Government Bonds for your retirement "savings".
    AFTER a teach you a lesson MAJOR Equities (as designed) Crash that is.
    "You're just too dumb to manage YOUR Wealth" can't ya see that now??
    "We are the Gov and we're only here to help you"
    yes, that's why I added the '?' to the headline as I don't believe Bloomberg's headline.
    Corzine stole funds from MF Global segregated account without any recourse, surely the government can steal without any notice either

  3. #23

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    US top court rejects union challenge to New Jersey pension reforms



    The U.S. Supreme Court on Monday rejected a bid by unions representing public employees including teachers and state troopers to force the state of New Jersey to pay the full share of its annual public pension contribution.

    The court declined to hear the unions' appeal, leaving in place a July 2015 ruling by the New Jersey Supreme Court that allowed Republican Governor Chris Christie's administration to make only partial contributions into public pension funds.


    http://www.cnbc.com/2016/02/29/us-to...n-reforms.html

  4. #24

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    They should be happy with what they are getting because it may not last.


    Public workers' fight for pension adjustments hits N.J. Supreme Court



    TRENTON — Government workers' fight for cost-of-living adjustments to their retirement benefits hits the state Supreme Court on Monday in a case that could pile billions of dollars onto New Jersey's steep pension debt.



    Berg v. Christie, or the COLA case as it's known, again pits public workers against the administration, though this time for allegedly violating their contractual right to cost-of-living increases.

    Restoring the increases could send the public pension system's unfunded liabilities soaring and speed up the time frame for the funds to run dry. But if workers lose, they would see their lifetime pension checks eaten away by inflation.


    http://www.nj.com/politics/index.ssf...nts_befor.html

  5. #25

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    America’s looming retirement savings crisis


    Americans today face a retirement savings crisis. If current trends continue, we estimate that the number of poor and near-poor retirees will nearly triple to 25 million by 2050*, representing a rate of poverty among senior citizens not seen since the Great Depression


    http://www.cnbc.com/2016/03/15/ameri...ommentary.html

  6. #26

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    Quote Originally Posted by Silver and Gold View Post
    America’s looming retirement savings crisis


    Americans today face a retirement savings crisis. If current trends continue, we estimate that the number of poor and near-poor retirees will nearly triple to 25 million by 2050*, representing a rate of poverty among senior citizens not seen since the Great Depression


    http://www.cnbc.com/2016/03/15/ameri...ommentary.html
    yes and when they go for a 28 stocks / 72 T bonds index, new savers might even get negative before they start saving "more" of the good stuff...

    Golditiki2+++

  7. #27

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    Quote Originally Posted by Silver and Gold View Post
    Teamstersí 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.

  8. #28

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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

  9. #29

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

  10. #30

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    Quote Originally Posted by jrobles376 View Post
    Would it not be best to draw the Lump Sum and roll over into self controlled IRA on day of retirement?
    Believe me or not, but I guess that the "lumpsum" is already gone...and the system pays the calculated annuities from the incoming payments they get from the actual members.

    My dear well fed dog could not resist to snatch the raw steak from the table, so i cannot for a SINGLE moment believe that those guards of our wealth can resist the temptation not to snatch our money.

    Think twice: like the shrewd bankers found out that it was not necessary to have the gold to cover the goldpaperpromises, it is not necessary for the funds to have all that money gathered, they only have to be able to pay the pensions due as was CALCULATED which is quite another matter than HOLDING the funds.

    Isn't it said somewhere in the Bible:

    " Be the feeble minded blessed because theirs will be Heaven? ".

    I never believed in these pension funds, was forced by law to pay. I was well aware about how it will finish.

    Golditiki2+++

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