Democrats and labor unions have a long history of working together, with labor unions delivering piles of election cash (sucked from member dues) and union member votes in exchange for dubious, pro-union legislation such as requiring union membership to work in a state and looking the other way when unions violate laws or requirements that other entities must follow. Union pension funds have often been a reliable source for financing slush funds and other scams that enriched the union leadership and politicians, but were rarely monitored to ensure union members and their retirement funds were being protected.
The unions generally have also promised much more than they could deliver, and like all ponzi schemes, the promised money finally exceeds incoming revenue. And now 407,000 private sector workers are about to lose most of their pensions due to false promises and phony financial projections.
One of the nation’s largest pension funds will be broke by 2025, page 2:
Let us be vigilant
But the immigrants get theirs!
Better to be illegal. Let’s all consider that if hilliary wins.
This is why you get a 401k and protect yoru money in your account. Any big pile of money is a target.
My pension wasn’t cut, cause I took the money and ran, BUT we completely lost our retirement benefits that we worked all those years for. Thanks a lot Bell Atlantic, Directory Services, or whatever you finally called yourself…..you can run but you can’t hide!
I don’t see how they can do away with a pension plan if everyone in it is vested….I’ve been retired for close to 15 years now but was lucky enough to have both, a pension plan and a company 401K
They can take it away as the same way they did Social Security
They can take it away as the same way they did Social Security.
Joanne Long They have not taken away Social Security…… just took money out of the fund, but people are still collecting and will continue to collect it.
til the money runs out. That is…