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In reply to the discussion: I gotta rant on the pension cuts in the funding bill, it made my 77 year old mom cry! [View all]nichomachus
(12,754 posts)72. Severance agreements are suffering the same fate
I have friends who worked for a company (where I used to work) that had severance agreements in placer. If the company let you go, you would get X number of weeks of pay, depending on your length of service. So, another company bought the first company, then fired a bunch of people and claimed that they weren't bound by the original severance agreement. A whole lot of people got screwed.
As far as pensions, when I retired, I took all of mine in lump sum payments -- because I predicted that pension funds would be looted. People called me a crazy conspiracy theorist. These are legal contracts, they said. It will never happen. You're nuts.
I take no joy in having been right.
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I gotta rant on the pension cuts in the funding bill, it made my 77 year old mom cry! [View all]
Dustlawyer
Dec 2014
OP
some have a hard time of thinking past their immediate,foremost concern to the consequences
belzabubba333
Dec 2014
#78
real question: why the hell would they? most movement Dems won't risk having a Pub win,
MisterP
Dec 2014
#99
oh, there *are* plenty of liberal Dems in Congress, but the leadership is all bankster
MisterP
Dec 2014
#103
Thanks! Bernie has made getting rid of campaign contributions his number 1 issue!
Dustlawyer
Dec 2014
#19
Yes, everyone has to get involved. And I am for boycotts and strikes, don't buy their stuff
sabrina 1
Dec 2014
#20
I am afraid you are right. The Plutocrats have been very adept at getting us to blame each other
Dustlawyer
Dec 2014
#23
Yes, it will get worse. Unless the people WAKE UP and stop protecting whichever team
sabrina 1
Dec 2014
#132
No fan of the thirdway "stir-the-economy now" and "sacrifice the future" types either.
Baitball Blogger
Dec 2014
#30
Here's a better explanation: they stole it. Like they're going to steal SS and everything
NewDeal_Dem
Dec 2014
#11
Who stole it? The union run pension plan? I am particularly asking about the Central Teamsters. nt
kelly1mm
Dec 2014
#109
This sub-thread is about the recent multi-employer, union run pension plan changes
kelly1mm
Dec 2014
#135
So, who should pay? The crime bosses? The "federal court" that supervises the fund?
kelly1mm
Dec 2014
#139
no, you just have to worry about your 401k tanking for various reasons. unless
NewDeal_Dem
Dec 2014
#142
With the employer match of 125% of contributions, the ability to put some/all in safe investments,
kelly1mm
Dec 2014
#144
When I tell that story, I like to add: "Guess who are the Republicans and who are the Democrats in
rhett o rick
Dec 2014
#77
Funny you should mention Enron. Honest, I have another friend that worked for
rhett o rick
Dec 2014
#128
I don't know about Bethlehem but I worked at Wheeling Pittsburgh Steel. In 2003 we went to a
doc03
Dec 2014
#104
"not enough monies coming into" < That's a lie. The money was being siphoned off by thieves in
jtuck004
Dec 2014
#46
They better hope they never come accross my mom, she is one tough cookie and would really
Dustlawyer
Dec 2014
#63
The government should bail out the retirement funds and tax the shit out of the wealthy-assed
rhett o rick
Dec 2014
#129
Sam, there's nothing too strange to imagine now that republicans will have the majority.
pacalo
Dec 2014
#27
The main reason for the ginormous pension reserve is to make it look like the PO is drowning
Doremus
Dec 2014
#95
I brought this up not because it is personal and really pissed me off, but because it is so
Dustlawyer
Dec 2014
#21
This bill will encourage companies to take more risk knowing they can use the pensions
liberal_at_heart
Dec 2014
#16
SAME EXACT BETHLEHEM STEEL STORY HERE! Pension "Guaranty" HAHAHA! Corps totally messed her up!
WinkyDink
Dec 2014
#26
The injustice done to your parents and the other workers and spouses is vile
suffragette
Dec 2014
#35
Not only did they not cut their own pensions, the clowns who voted for this
Trailrider1951
Dec 2014
#40
This sucks, big time, Dustlawyer. I'm sorry your parents had to go through this.
Enthusiast
Dec 2014
#43
Pension looting erodes corporate law and should be a federal crime with mandatory jail time.
ancianita
Dec 2014
#53
pension looting is a great bumper sticker slogan - and a good name for a bill in congress
belzabubba333
Dec 2014
#85
I worked 40 years in the steel industry and get $1900 a month. Of course now that
doc03
Dec 2014
#107
Very sorry DL. Damn them for making all our lives harder than they have to be.
raouldukelives
Dec 2014
#68
Fox would have nothing to say to the trade deal with Japan that allowed them to glut our market
Dustlawyer
Dec 2014
#86
Not necessarily I worked for Wheeling Pittsburgh Steel and the PBGC froze our plan
doc03
Dec 2014
#111
You may be wrong about their pension. I worked 40 years at Wheeling Pittsburgh Steel our
doc03
Dec 2014
#110
I doubt they are actually getting it from Bethlehem, they liquidated, it probably comes from the
doc03
Dec 2014
#113
You are correct, PBGC, her $17.00 a month is three weeks of gas at current prices. I hope
Dustlawyer
Dec 2014
#140
It was with the union, but once the company failed, it became administered by PBGC, a government
Dustlawyer
Dec 2014
#137
If that is the case I apologize, I am having a lot of medical issues and a little shorter fuse than
Dustlawyer
Dec 2014
#146
The validity and terms of a contract are directly proportionate to the wealth possessed
Zorra
Dec 2014
#105
Thisis part of the mission of the Republicans, Walmart, Koch brothers and other large
sammy750
Dec 2014
#100
Who voted? Who votes? Who participates in the process. Not many. Shame on these people.
YOHABLO
Dec 2014
#126