Odd, that story mentioned some pensioners working 30+ years then getting a pension.Zlaxer wrote:Thugs - as in have crush jobs/hours and expect me to work till I drop so they can retire at 40......so yeah, thugs.....jbird4049 wrote:Zlaxer wrote:http://www.nydailynews.com/new-york/n-y ... -1.2982399
Basically, union thugs loosing their pensions....sucks, but only a fool would have believed the government.....
As go the states.......
Saying people who worked for 30+ "thugs" is interesting. How do know you this?
As for fact that many pension funds have been delibertly underfunded by governments, who were often happy to do that because they could 1) not paid higher wages and 2) not raise taxes, and 3) use the money that was earmarked as extra revenue.
Also, Wall Street defrauded (lied) to pension management, and of course the 2008 crash did not help.
Just as one should be able to trust not to be murdered, or robbed, while walking down the street at noon, one should also trust the people running the entire financial system, or the government, should not either.
But then none of the crooks who crashed the system in '08 were frogmarched. They got to keep their bonuses too, and the politicians were usually re-elected. However, those nasty workers should have their pension fucked anyways.
Look, you can always, always somebody getting away with stuff they shouldn't, and pensions fund the retirement of both union, and nonunion, public and private, every position from janitor, police, nurses, researchers, teachers to you name it. Most pension payouts are not as generous as the Teamsters anyways.
They are supposed to be funded by contributions from workers paychecks, and (usually) matching contributions from the employer. The individual employees don't have a say about the money taking from their pay. The employers do have control over when, how much, in what, or even if to make contributions. Furthermore, it is usually pension managers, often hired from, or at least advised by, people in Big Finance (like Goldman Sachs).
The managers, the advisors, and the management be it VPs, CEOs, or the City Council, almost always get their money/retirement often by fraudulent means. The workers (chumps) often don't. And wouldn't you know it the Federal system for covering underfunded pension funds is itself underfunded. Thls has been going on for over 30 years. It's not a surprise crisis.
Honestly, I am tired of hearing that a commenter is being screwed therefore everyone else should be too. Fuck that. Everyone should be treated fairly, and the con artists who have mismanaged, and even stole for these funds should be the ones suffering.
