RSS

“Refashioning Private Multi-Employer Pension Plans”

03 May

As I’ve said repeatedly for the past five years, “What can’t be paid, won’t be paid.”  The government is broke; many pension funds are broke; more financial entities that have made extensive “promises to pay” will follow soon enough.

Whatchu gonna do?  You can’t squeeze blood out of a stone, or currency out of bankrupt pension plans.  You can yell, scream and howl, but if the currency’s not there, it can’t be paid and won’t be paid.  Many of you who’ve trusted in other people to manage pensions and provide for your retirement are heading for a time of betrayal, stress, rage, regret and sorrow.

video     00:02:44

 

Tags: , ,

3 responses to ““Refashioning Private Multi-Employer Pension Plans”

  1. Ralph P. Torello

    May 4, 2016 at 3:27 PM

    Al,

    Pensions are a thing of the past. Most of “normal” Dallas employees don’t have pensions. When I say “normal” – I mean, the thousands of brain-control-slaves who drive around aimlessly all day long with signs that say “Lawn Care,” “Plumbing,” “Wal-Mart,” HVAC, flooring, roofing, catering, McDonalds.

    As for “corporations” and “corporate america” pensions… They are complete frauds here in Dallas – and don’t exist. They never needed pensions in the first place, because these (former) corporations were paying themselves much more money such that they purchased stocks in the “stock market” – and don’t rely on a “pension hedge fund manager” – they purchases stocks from hedge funds themselves.

    The same old broken record… once a day…
    1) Brush your teeth
    2) Take a shower
    3) Look at finance.yahoo.com
    5) They FINANCIAL HOLOACAUST is right there in front of your.

    There is no such thing as “15 Trillion dollars” – yet that’s what Wall Street says it’s worth! I don’t know if you actually understand how pensions used to work, but pension managers would give the money to Wall Street Banks to buy “safe instruments.”

    Have you read about anybody on Wall Street “losing their shirt lately?” Did you buy into the whole “Goldman Sachs Wall Street Bailout” rhetoric? There aren’t really any pensions left except (local/Dallas) police, (K-12) teachers, and probably church/clergy, etc…

     
  2. gloria

    May 4, 2016 at 4:04 PM

     
  3. harold poole

    May 13, 2016 at 8:44 AM

    Expand the employee base to pay funds into the plan for future benefits. With a good pension fund manager or financial planner you get growth just like a 501 or any other anuity. The idea is in esters have more security and better chance of handling ups and downs of the marketplace over time. It’s diversifed both in assets and liabilities. As a private individual you cannot afford a personal attorney and accountant to manage your account and group wiz e less danger of being robbed of your future which is why they don’t want you to have one

     

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s