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Re: Kentucky Teachers 'Outraged' At Thought Of Accepting Same Retirement Plans As Private Sector Workers 

By: monkeytrots in POPE IV | Recommend this post (1)
Thu, 26 Oct 17 9:07 PM | 94 view(s)
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Msg. 37485 of 47202
(This msg. is a reply to 37471 by capt_nemo)

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Defined benefit plans disappeared from most businesses more than FORTY YEARS ago - except by folks who had strong labor unions.

Coupled with outrageous 'discount rates' that could be applied to those layed off, the defined benefit plans were gutted deliberately by laws passed by the federal government. Big Corps working hand in hand with the gov.

The defined benefit plans that remained were underfunded by businesses, and WE TAXPAYERS ended up paying the retirements (through the retirement guaranty federal insurance program) of millions of private sector workers.

The public sector workers - even worse.




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The above is a reply to the following message:
Kentucky Teachers 'Outraged' At Thought Of Accepting Same Retirement Plans As Private Sector Workers
By: capt_nemo
in POPE IV
Thu, 26 Oct 17 9:59 AM
Msg. 37471 of 47202

"The proposed framework would create a defined-contribution plan with no amount of protected benefit whatsoever..."

http://www.zerohedge.com/news/2017-10-25/kentucky-teachers-outraged-thought-accepting-same-retirement-plans-private-sector-wo


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