General Discussion
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]Joe Worker
(88 posts)Nyhan is not a good source of information. Unions (members) do not make decisions on pension fund investments. This is done by a board of Trustees usually composed of equal numbers of union and company representatives. If I had my way I would not invest one dime in Wall Street. A "Trust Fund" should be just that. A LOCKBOX! Most of these plans went insolvent after the crash in 08. Many more are in endangered or critical status right now but with restructuring in place are NOT necessarily headed down the road to the "insolvency" line we are being fed by the business sections and their Wall Street allies.
I would also just like to add that most of these pensions are not higher paying ones like the raiders like to confuse us with. Most of them are very meager and pay out less than 20k a year. Most average much less than that.