Pensions

[Eng 94]

Pensions: I just finished reading an article in AARP about the fact that government has just passed a resolution to allow multi employer pension such as most union pensions to be cut by as much as 60% before they become solvent in possibly 10 years. Even if everyone were to vote it down,it still won't matter.

What the frigging hell is this all about? I hate to be writing such garbage on this site,but it just pisses me off how this administration is screwing with honest hard working people in every way they can. They spend Billions in bailouts for banks and big business,allow illegal aliens to become citizens...which a lot are receiving some sort of Aid from programs we pay for.

Me I am loosing faith in this country that I served for and busted my azz working to build.What the heck are we supposed to do now that we are retired,and what about those of us that are unable to work and no longer able to support this craziness.

Sorry guys but this is really getting the best of me. I had to vent.          

[IrishAyes]

This country no longer cares about honoring their commitments. There is absolutely no regard for the honest, hard working American anymore.

You got me started again Joe.   

[Eng 94]

This country no longer cares about honoring their commitments. There is absolutely no regard for the honest, hard working American anymore.

You got me started again Joe.   

Honestly I'm not trying to get anyone worked up. I just was so frustrated after reading that,that I had to vent. If I thought it would do any good I would write to the president and congressman in my district,and I have in the past...but it's the same old BS answers from there flunkies who read and answer the letters anyway. This crap will be coming to a head sooner or later. I wish there was something I could do to help my children and grand children, they will end up suffering the most.

[wb]

basically ya gotta help yourself. if more people realized this there'd be a lot less problems, in general. count on the government for nothing and you won't be disappointed.

pension = hard work for long years and save where possible. if you can't save, work harder.

[Eng 94]

basically ya gotta help yourself. if more people realized this there'd be a lot less problems, in general. count on the government for nothing and you won't be disappointed.

pension = hard work for long years and save where possible. if you can't save, work harder.

I'm not quite sure of your meaning, but I just want to say this.

1. Social Security is something I was not asked to contribute to,
it was taken from my pay every week since I was 12 years old. Except for the 4years I served in the Military,with the promise of an income when I retired.

2. I did save and so did my wife in various 401K and IRA investments. What happened to the market that destroyed much of these savings, we had no control over. No one bailed out our finances.

3. Our pensions we contributed to and what they are proposing to do is cut most pension by 60%.

Where did we go wrong? Doing just what we were told, work hard save your money and be honest.

I raised 3 children that are responsible citizens, College graduates that we payed for there education. They are major contributors to this society that we help to build. If what you mean is don't depend on our country's rights then I'm sure something has been lost in the meaning of OUR Constitution and the Bill Of Rights.

My understanding is and always has been. We are the government..of the people by the people and for the people.

This is our country not Mexico,Iran,Packastan,or Russia Those are but a few where you can not depend on there form of Government.           

[bassnblues]

WB- great advice for young people but people who have worked their whole life with an expectation should get what they were promised.

[Eng 94]

WB- great advice for young people but people who have worked their whole life with an expectation should get what they were promised.

Well said with not so lengthily of an explanation as I gave. Maybe I should have said in the first place that I am 68 years old.

[Reckless]

The ones that need it the most get screwed the most!!

"The retirees whose pensions are at stake are mostly blue-collar workers, including mechanics, truckers and construction workers, who participate in what are known as multi-employer pension plans."

http://www.latimes.com/business/la-fi-pension-changes-20141212-story.html#page=1

[Eng 94]

Reckless: That is exactly what I had read from AARP and I am part of that group. The first 20 years of my employment was in the construction industry as a union worker.

Thankfully I finished my carrier as a Field Engineer and manager in land development.