Now when will the cut there own.    

Congressional leaders hammer out deal to allow pension plans to cut retiree benefits


snip~
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.

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.

more @
http://www.washingtonpost.com/business/economy/congressional-leaders-hammer-out-deal-to-allow-pension-plans-to-cut-retiree-benefits/2014/12/09/4650d420-7ef6-11e4-9f38-95a187e4c1f7_story.html

Quote from: walkstall on February 05, 2015, 08:22:28 PM
Now when will the cut there own.    

Congressional leaders hammer out deal to allow pension plans to cut retiree benefits


snip~
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.

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.

more @
http://www.washingtonpost.com/business/economy/congressional-leaders-hammer-out-deal-to-allow-pension-plans-to-cut-retiree-benefits/2014/12/09/4650d420-7ef6-11e4-9f38-95a187e4c1f7_story.html

I worked for a company for 40 years and therefore had an option to take my pension in a lumps sum. I took that option just because of this.  Anytime there is a pool of money politicians are always looking for ways to get to it.

Quote from: supsalemgr on February 06, 2015, 05:19:05 AM
I worked for a company for 40 years and therefore had an option to take my pension in a lumps sum. I took that option just because of this. Anytime there is a pool of money politicians are always looking for ways to get to it.

I did also, as it was around the time some air line pilots were getting nailed.   I also pulled out my 401K and invested it.  It took them 3 months to give me my 401K, they said it was not my money until they and the government gave it to me.  I was luckier than most as I has over 30.000$ is cash out for sick time, holiday and vacation that I banking over my last 10 years.  That and we banked all my last 5 years paycheck into saving.

Quote from: walkstall on February 05, 2015, 08:22:28 PM
Now when will the cut there own.    

Congressional leaders hammer out deal to allow pension plans to cut retiree benefits


snip~
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.

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.

more @
http://www.washingtonpost.com/business/economy/congressional-leaders-hammer-out-deal-to-allow-pension-plans-to-cut-retiree-benefits/2014/12/09/4650d420-7ef6-11e4-9f38-95a187e4c1f7_story.html

This is aimed directly at the sort of pension I currently draw -- multi-employer pensions, which are almost universal in the heavy construction trades. At the moment, my particular fund, which is limited to a particular trade within Ohio, is in good shape, and wouldn't be eligible for reassessment under the new law. But what worries me is the likelihood that, once this sort of new regulation takes hold, what passes for "good health" as it applies to retirement funds will become a political football.

Quote from: TboneAgain on February 06, 2015, 04:56:47 PM
This is aimed directly at the sort of pension I currently draw -- multi-employer pensions, which are almost universal in the heavy construction trades. At the moment, my particular fund, which is limited to a particular trade within Ohio, is in good shape, and wouldn't be eligible for reassessment under the new law. But what worries me is the likelihood that, once this sort of new regulation takes hold, what passes for "good health" as it applies to retirement funds will become a political football.

All it takes is one bureaucrat in Washington decide a fund is not in "good health".

Quote from: supsalemgr on February 07, 2015, 05:09:11 AM
All it takes is one bureaucrat in Washington decide a fund is not in "good health".

That is precisely the scenario I fear. If the new law simply permits the pension funds themselves to make reasonable adjustments to their payouts to preserve the overall funds, that's one thing. (What else can they do?) But if the decision is made by some faceless puke in DC, that's another thing altogether.

What I would like to know is why we aren't "hammering out deals" to allow pension cuts for Congress.

Who gets a raise in pay, every year, unless a member of the House intro's a new bill to stop that raise, and then they all vote for that bill to stop the pay raise, and the President signs it into law.

Yeah that is going to happen.

And I might just miraculously due to an act of God wake up and be a dimocrap one morning too.

I seriously do not know why, our people, accept sitting there as their retirement is cut, while these people who are supposed to represent them, all every year vote themselves a raise.

And yes that is what not voting AGAINST that pay raise is too.