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  • Beware Pension-Plan Shortfall - Barron's [View article]
    Most of those funds in most states are not liquid; there aren't enough funds to cover the pensions.


    On Dec 07 09:52 AM billp37 wrote:

    > Sandia National Laboratories retirees are bought an annuity from
    > PRU upon retirement.
    >
    > We are starting to study what happens to our retirement checks if
    > PRU goes bankrupt.
    >
    > Here looks like the best answer, so far.
    >
    > 9) True or false: Annuities are covered by the Federal Deposit Insurance
    > Corp.
    > ANSWER: False. They are covered by state guaranty associations. Like
    > the FDIC, the associations impose maximum coverage limits, and limits
    > vary from state to state. Note: Money in the subaccounts of a variable
    > annuity is legally segregated from the insurers' assets; if the insurer
    > fails, the owner gets whatever is in the subaccounts. Most states
    > provide at least $100,000 for the guaranteed portion of an annuity
    > contract, according to the Web site of the National Organization
    > of Life and Health Insurance Guaranty Associations, www.nolhga.com//.
    >
    >
    > www.prosefights.org/nm...
    >
    > Cramer's November 13, 2008 cnbc presentation on annuity insurance
    > companies attracted our attention. You can find a link to a video
    > of Cramer's presentation at the above link.
    >
    Dec 07 20:19 pm |Rating: 0 0 |Link to Comment
  • Beware Pension-Plan Shortfall - Barron's [View article]
    If I could invest the taxes the government takes out of my paycheck I'd do it. As it is I can't afford to and I'll never see the money I'm putting in for Social Security or Medicare.

    We've been sold out.

    I know many people who had their pension plans robbed. Put money in for year after year only to have the company claim "bankruptcy", give the executives golden parachutes, and liquidate the pension plan.

    Our government has done the same thing with all of our taxes.

    This won't be able to be sustained; there will be a collapse and revolt.

    We've sold ourselves down the river; sad.


    On Dec 07 12:39 PM notsosmart wrote:

    > this may sound harsh & out of date but in capitalism i assume
    > the worker should be responsible for their own health care &
    > retirement.social security was at one time called"old age assistance
    > program" if im not mistaken.group insurance started out as a perk
    > along with pension plans. i know as a licensed insurance broker i
    > was in at the begginning.im going to be 78 yrs old.at what point
    > does a perk turn into a requirment?business better be careful what
    > the y offer re vacation,sick time,benefit plans etc as the stuff
    > offered in good years has to be kept on in bad.this mix of socialism
    > & capitalism is not working.pay folks a decent wage & let
    > them handle insurance & retirement.if not this business model
    > might collapse.
    Dec 07 20:16 pm |Rating: 0 -1 |Link to Comment
  • Beware Pension-Plan Shortfall - Barron's [View article]
    It's a rout.

    The stock market rout has decimated pension plans.

    A route is a road like Route 66.

    Good article. The'll rob the pension funds before they pay into them. Declare bankruptcy and short the people who dedicated 20-30 years to them.

    Yet another problem with modern American corporations and government; change the rules instead of live by them.
    Dec 07 14:25 pm |Rating: 0 0 |Link to Comment
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