Tuesday, May 24, 2016

Pension Fund Cuts Benefits to Avoid Insolvency, But The Government Says It’s Not Enough

 By Joe Scudder

I’ve written before about the pension benefit cuts that the Central States Pension Fund wants to impose. Some wanted the government to intervene and stop the cuts.  They got their wish. The government intervened… but not to stop the pension benefit cuts!  According to CNN Money,.......
Supposedly, the pension is insured by the government-created Pension Benefit Guaranty Corporation. But—surprise, surprise—the PBGC is under-funded. It was merely invoked as an alleged safety net to keep pension “beneficiaries” (really: fraud victims) from worrying. Their job was to work hard now and then live the American dream.  Now they get to wake up and smell that rich aroma of scam.  CNN Money also published this video to give some background. It is worth watching......To Read More....

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