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Old 11-10-2012, 10:38 AM
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just heard on my local weekend financial radio show that out of the 500 s&p 500 companies there are only 18 with pensions in the black, he also went on to say public pensions are underfunded by 1.3 trillion. do these numbers sound right to you?
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Old 11-10-2012, 10:43 AM
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With California being 500 billion under, I would say the number is low.

Worse is the fact that the federal government insures them.

Why do I get the feeling that private 401k's will be incorporated into government bonds for their protection?
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Old 11-10-2012, 10:58 AM
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New math says ObamaCareŽ will kill off most sooner than expected reaping huge savings in pension liabilities.
Old 11-10-2012, 02:33 PM
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$1.3 Trillion sounds a bit light. I do know the numbers are big.
Old 11-10-2012, 03:44 PM
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I know you specifically said public pensions... But If you google unfunded federal liabilities I believe the number is around 84 trillion... And someone else showed me ( on here ) all the debt clocks for everything.. Gulp
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Old 11-10-2012, 04:01 PM
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Quote:
Originally Posted by 97guns View Post
just heard on my local weekend financial radio show that out of the 500 s&p 500 companies there are only 18 with pensions in the black, he also went on to say public pensions are underfunded by 1.3 trillion. do these numbers sound right to you?
You can only rob Peter to pay Paul for so long before it catches up with you.
Old 11-10-2012, 08:17 PM
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Not to worry. With the hyper inflation ... even without taking food and energy costs into consideration ... and the national debt in conjunction with the decreased level of production in America, it would not be worth anything in a few years anyhow right? The current economy, the debt and the deficit will mean either an economic collapse or a complete economic restructuring but hey, they are smart people, know what's best for us and always make wise decisioons right?

Strange Days Indeed - (Channeling John Lennon)
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Old 11-10-2012, 09:45 PM
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The community hospital my wife worked at had a retirement pension that evaporated while the hospital recently went through bankruptcy. The funds were frozen going into BK and mysteriously disappeared after BK. When my wife inquired as to what happened to the money she was told by her union rep that the funds had been mishandled by the original investment broker and nothing could be done. The company went out of biz during the housing/banking crisis.

Pizzd off they froze pension funds going into BK (what funds were frozen?) but nothing came out

DW says no big deal, just wait til they need a nurse to help them, Ha!
Old 11-10-2012, 10:26 PM
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Quote:
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The community hospital my wife worked at had a retirement pension that evaporated while the hospital recently went through bankruptcy. The funds were frozen going into BK and mysteriously disappeared after BK. When my wife inquired as to what happened to the money she was told by her union rep that the funds had been mishandled by the original investment broker and nothing could be done. The company went out of biz during the housing/banking crisis.

Pizzd off they froze pension funds going into BK (what funds were frozen?) but nothing came out

DW says no big deal, just wait til they need a nurse to help them, Ha!
Given current laws, if you have a way to track the funds ... my first guess would be the unions themselves. I am a bit jaded I know, but I would definitely look at it as a very realistic possibility.
Old 11-11-2012, 12:52 AM
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The state of Alabama is one of the better funded in the southeast. I think were around 75% funded while the some of the other states are going below 50% funded. We are fortunate to own alot of hotels and golf courses. I doubt ill live long enough to use it but its nice now.
Old 11-11-2012, 10:19 AM
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IMO, pensions are a detriment to society. They operate no different than a ponzi-scheme.

The 401k system is the best model for providing retirement benefits. This puts funds directly(with exception to vesting) into private accounts. This eliminates unfunded liabilities on a large scale. GM is a perfect example of why they should not exist.

No one can predict market conditions or the unintended consequences of government policies, which lead to pension losses and bankruptcies. Socialization of benefits is no different than socializing wages. It is not fair from individual to individual or generation to generation.
Old 11-11-2012, 01:03 PM
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Oh man. Just after reading this thread, I get headache. How are we going to live in the future....

J.B.
Old 11-12-2012, 01:42 PM
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Oh man. Just after reading this thread, I get headache. How are we going to live in the future....

J.B.
God willing? Peacefully, out in the mountains, away from all the madness
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