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Are Pensions a Promise?

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posted on Dec, 18 2018 @ 04:24 PM
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a reply to: toysforadults

It's not EMS, its not Firefighters, at least in KY, who are bitching. It's the entitled teachers who are aren't honest to the public about the perks they actually get...




posted on Dec, 18 2018 @ 04:26 PM
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a reply to: JohnnyCanuck

Your contract is only as good as the party you made it with.

If the person you signed with goes under, then there isn't much that can be done.



posted on Dec, 18 2018 @ 04:28 PM
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a reply to: EternalSolace

See how the market reacts to the Fed tomorrow.

Me thinks the balance sheets are about to start increasing again real soon.



posted on Dec, 18 2018 @ 04:35 PM
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originally posted by: toysforadults
a reply to: EternalSolace

See how the market reacts to the Fed tomorrow.

Me thinks the balance sheets are about to start increasing again real soon.

Teacher, in KY, were unhonest about their perks. They were the only state employees who enjoys a yearly increase by 1-1.5% increase in their pensions. Possibly more.



posted on Dec, 18 2018 @ 05:10 PM
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originally posted by: ketsuko
a reply to: JohnnyCanuck
Your contract is only as good as the party you made it with.
If the person you signed with goes under, then there isn't much that can be done.
All depends who gets paid out first...and that can be legislated.
And as far as that goes, that's why I worked for a public sector employer...knowing that I'd have made more in private, but ended up with a more secure job and pension.



posted on Dec, 19 2018 @ 08:42 AM
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I recall a bunch of years ago... there was a stink about Pensions ----> so the big push was for a new system of Defined Benefits Plans to replace the 'Iffy' Pension system of retirement pay...

which just amounted to: a Lobby of Big Employers pushing their weight & power to get-off-the-hook from ever increasing pay-outs to the 'riff-raff' (non executive class)


i don't follow the constant changes of the issue, 'cause im not in law



posted on Dec, 19 2018 @ 02:56 PM
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originally posted by: St Udio
I recall a bunch of years ago... there was a stink about Pensions ----> so the big push was for a new system of Defined Benefits Plans to replace the 'Iffy' Pension system of retirement pay...
which just amounted to: a Lobby of Big Employers pushing their weight & power to get-off-the-hook from ever increasing pay-outs to the 'riff-raff' (non executive class)
i don't follow the constant changes of the issue, 'cause im not in law

I think you have that reversed...defined benefit is you get what was contracted. Defined contribution means you put in what you put in and your pension is based upon the performance of the fund. In my case, both employee and employer contribute to the plan, and generates an agreed-upon sum which is indexed to inflation as well.



posted on Dec, 19 2018 @ 05:19 PM
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originally posted by: JohnnyCanuck

originally posted by: St Udio
I recall a bunch of years ago... there was a stink about Pensions ----> so the big push was for a new system of Defined Benefits Plans to replace the 'Iffy' Pension system of retirement pay...
which just amounted to: a Lobby of Big Employers pushing their weight & power to get-off-the-hook from ever increasing pay-outs to the 'riff-raff' (non executive class)
i don't follow the constant changes of the issue, 'cause im not in law



I think you have that reversed...defined benefit is you get what was contracted. Defined contribution means you put in what you put in and your pension is based upon the performance of the fund. In my case, both employee and employer contribute to the plan, and generates an agreed-upon sum which is indexed to inflation as well.


 



what you explain is more like our 401-k plans for voluntary pay deductions.... the Defined Benefits Plans were designed to keep the peons/serfs on the bottom-rung-of-the-economic-ladder ---
unlike out-of-control /Pie-in-the-Sky/ Annual increased Pension Funding by Multinational Corps. like GM-Ford-MMM-IBM-et al~~~ in which the Corp. enjoyed a limited, lower level of Guaranteed Payout over the lifetime of the employees career
---> hence no $60K per year pensions with inflation increases built-in for the life of the retiree


Idk if the IRS still uses that unfair (pre defined) pension plan that sets a low payout that is guaranteed even if the corp. goes bankrupt
edit on th31154526168119212018 by St Udio because: (no reason given)



posted on Dec, 19 2018 @ 05:36 PM
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a reply to: St Udio
Here's ours laid out, as it is currently expanding its base. University Pension Plan. More or less a typical public sector plan, though not as generous as some. Canada Pension Plan kicks in on top of that, based on employment history, plus Old Age Security.







 
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