Green Energy
The cuts involve the ailing Pension Benefit Guaranty Corporation, an independent agency of the federal government. This portion of the Wikipedia article explains how the PBGC is funded.
Excerpt from the Washington Post article Congressional leaders hammer out deal to allow pension plans to cut retiree benefits:
Just imagine what havoc these cuts would work upon the personal budgets of many already-retired, elderly retirees under the age of seventy-five! Retirees who are over age seventy-five or disabled are exempt from the cuts.
The root of the financial troubles of the Pension Benefit Guaranty Corporation is an inverted pyramid of support for the pension plans. There used to be four active workers or members for each retiree, but now the ratio is one active worker or member for every five retirees.
Meanwhile: Boehner gives $16,928 for each of the 56,000 youths, young adults and children who crossed the border during the 12 months up to October 2014.
- Nhs Denying Life-saving Care To The Elderly
Some infallible logic from Reliapundit, the Astute Blogger: WHEN THE GOVERNMENT PAYS YOU YOUR PENSION AND BUYS YOU YOUR HEALTHCARE, THEN THEY HAVE A HUGE CONFLICT OF INTEREST. BY DENYING CARE TO THE ELDERLY ON PENSIONS, THEY EARN A DOUBLE-BENEFIT: SAVING...
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"CHANGE" - US Treasury secretary says he has begun tapping federal retiree pension fund to avoid defaultFrom Will at THE OTHER NEWS: "CHANGE" - US Treasury secretary says he has begun tapping federal retiree pension fund to avoid default.(StarTribune)....
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New York Crimes: Retiree Benefits for the Military Could Face Cuts By JAMES DAO and MARY WILLIAMS WALSH As Washington looks to squeeze savings from once-sacrosanct entitlements like Social Security and Medicare, another big social welfare system is growing...
- So My Idea Is To Take The $4 Billion, And Just Go To The Track
FT: US state pensions becoming federal issueBy Nicole Bullock in New York and Hal Weitzman in Chicago Published: May 19 2010 20:44 | Last updated: May 19 2010 20:44Illinois used to have a plan to pay off the gaping shortfall in the pension...
- You Ain't Seen Nothin' Yet
Former Spook: Members of the armed forces and their supporters are expressing shock and outrage over the Pentagon's request that Congress be "less generous" with future military pay raises. As the Washington Post reported over the weekend, military...
Green Energy
Cutting Retiree Benefits
The cuts involve the ailing Pension Benefit Guaranty Corporation, an independent agency of the federal government. This portion of the Wikipedia article explains how the PBGC is funded.
Excerpt from the Washington Post article Congressional leaders hammer out deal to allow pension plans to cut retiree benefits:
A measure that would for the first time allow the benefits of current retirees to be severely cut is set to be attached to a massive spending bill, part of an effort to save some of the nation’s most distressed pension plans.Note the following example:
The rule would alter 40 years of federal law and could affect millions of workers, many of them part of a shrinking corps of middle-income employees in businesses such as trucking, construction and supermarkets....
Whitlow Wyatt, 70, retired with a $3,300-a-month pension in 2000 after working more than 33 years as a long-haul driver. He could face pension reductions of 30 percent or more if Congress permits trustees of the hard-pressed pension fund to slash benefits.Read the entire article HERE.
Just imagine what havoc these cuts would work upon the personal budgets of many already-retired, elderly retirees under the age of seventy-five! Retirees who are over age seventy-five or disabled are exempt from the cuts.
The root of the financial troubles of the Pension Benefit Guaranty Corporation is an inverted pyramid of support for the pension plans. There used to be four active workers or members for each retiree, but now the ratio is one active worker or member for every five retirees.
Meanwhile: Boehner gives $16,928 for each of the 56,000 youths, young adults and children who crossed the border during the 12 months up to October 2014.
- Nhs Denying Life-saving Care To The Elderly
Some infallible logic from Reliapundit, the Astute Blogger: WHEN THE GOVERNMENT PAYS YOU YOUR PENSION AND BUYS YOU YOUR HEALTHCARE, THEN THEY HAVE A HUGE CONFLICT OF INTEREST. BY DENYING CARE TO THE ELDERLY ON PENSIONS, THEY EARN A DOUBLE-BENEFIT: SAVING...
-
"CHANGE" - US Treasury secretary says he has begun tapping federal retiree pension fund to avoid defaultFrom Will at THE OTHER NEWS: "CHANGE" - US Treasury secretary says he has begun tapping federal retiree pension fund to avoid default.(StarTribune)....
-
New York Crimes: Retiree Benefits for the Military Could Face Cuts By JAMES DAO and MARY WILLIAMS WALSH As Washington looks to squeeze savings from once-sacrosanct entitlements like Social Security and Medicare, another big social welfare system is growing...
- So My Idea Is To Take The $4 Billion, And Just Go To The Track
FT: US state pensions becoming federal issueBy Nicole Bullock in New York and Hal Weitzman in Chicago Published: May 19 2010 20:44 | Last updated: May 19 2010 20:44Illinois used to have a plan to pay off the gaping shortfall in the pension...
- You Ain't Seen Nothin' Yet
Former Spook: Members of the armed forces and their supporters are expressing shock and outrage over the Pentagon's request that Congress be "less generous" with future military pay raises. As the Washington Post reported over the weekend, military...