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Politicub

(12,165 posts)

16. Pensions were a nice perk long ago

Reply to BadGimp (Original post)

Thu Feb 13, 2020, 07:46 PM

Feb 2020

I’ve been in the workforce for 30+ years and none of the companies I have worked for had pension plans. We were expected to fund our own retirement through a 401k, with a meager contribution from the corporate parent.

401ks are invested mainly in mutual funds traded in the Wall Street casino.

My husband’s brother is a union plumber and he retired with a nice pension. I’m envious. Right to work laws have been so damaging since collective bargaining is what ensured him a secure retirement.

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21 replies

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Highlight:

They worked at a Catholic hospital for decades. Then it took away their pension [View all] BadGimp Feb 2020 OP

"Loophole" is intentional. Started in Reagan years, laws weakened pension protection for workers. Midnight Writer Feb 2020 #1

Just one DENVERPOPS Feb 2020 #4

Some relatives of mine bucolic_frolic Feb 2020 #5

My Dad's corporation was bought by a French Co. that actually increased his pension plan. Midnight Writer Feb 2020 #7

Yes, Wellstone ruled Feb 2020 #8

Absolutely outrageous.. Firestorm49 Feb 2020 #2

Church plans have different rules mahatmakanejeeves Feb 2020 #3

Doesn't the Catholic Church (Rome) Dan Feb 2020 #12

Sorry, all their extra money goes towards lawsuit payouts Merlot Feb 2020 #17

A PBS program that I saw Collimator Feb 2020 #18

Figures... Rider3 Feb 2020 #6

I wonder,,,, Cryptoad Feb 2020 #9

I seriously wonder what the Pope has to say about this. n/t MarcA Feb 2020 #15

This looks like the tip of the iceberg, because this issue affects all religious institutions. pnwmom Feb 2020 #10

So it was a church plan when it was avoiding payments to the PBGC ... VMA131Marine Feb 2020 #11

But but ...the stock market is so high eom LittleGirl Feb 2020 #13

NYSE near 30,000 and NASDAQ near 10,000 King_Klonopin Feb 2020 #19

Somebody is getting rich LittleGirl Feb 2020 #20

Don't forget to tithe from what little you have left. keithbvadu2 Feb 2020 #14

Pensions were a nice perk long ago Politicub Feb 2020 #16

After a review by forum hosts....LOCKING Omaha Steve Feb 2020 #21