What steps have been put in place to prevent any future reallocating of pension funds?
Money on the table, money divided up over a 3 year period. Contract signed. ALL GOOD
Then money reallocated, Money never replaced, No more money in the till. ALL BAD
That's what happened to the NJ Teachers Pension fund to their state's contributed dollars. Thank goodness the state couldn't attack the monies donatedby the employee or that would be gone as well.
Well, yes, I think this has been going on all over for quite some time now, and it's horrible.
Governor Walker's bill here --- that we're trying to kill --- would take away the right to bargain at all, except for a few little issues. So, it would essentially mean NO MORE UNIONS --- for teachers, law enforcement or state workers.
From what I understand, these pension funds have been getting raided since the "Reagonomics" in the '80's. They usually try to cover it up, though.
Yes, it is good the state couldn't take away the employees' own contribution. I think sometimes they even raid that, though. I don't know a lot about the details of how it all works. Just the basics. I know enough to know it shouldn't be happening. It's unjust.
by Dan Harmon 15 months ago
President Biden announced today a plan to give $36 Billion to pension plans, mostly the Teamsters, because the stock market has fallen so badly and those funds suffered as a result. The taxpayer will now bail out poorly run pension plans, keeping pensions high, rather than putting it into our...
by Krishna 13 years ago
Since, Internet is just in the starting age and hubpages is only 4 years old, I think internet will remain as main information source for next 300-400 years till the new technology (competitive) takes birth such as artificial intelligence etc.....What will be the future of 'your hubs', 'your...
by Sandra Greaney 10 years ago
What age should you start saving for your pension?
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