Last Build Date: Fri, 06 May 2016 14:11:19 +0000
Fri, 06 May 2016 14:11:19 +0000not any plans for that
Fri, 06 May 2016 02:08:29 +0000So does this mean the site will be coming down?
Thu, 21 Apr 2016 22:03:07 +0000For all of the heartache that employees have endured over the years, the pension/retirement hurdle is a big, big deal. Many of the companies changed over to a cash balance plan as they terminated their traditional plans. There was a great amount of controversy about this (I remember the IBM termination), but it looks like those employees are going to be the lucky ones. Even defined contribution plans are in danger as Uncle Sam begins to eye the 6 Trillion dollars in those plans as a source of revenue. We certainly live in interesting times.
Thu, 21 Apr 2016 17:36:40 +0000I'm personally familiar with Central States--my dad was a Teamster and that was the only thing allowing him to have a pension (his trucking company went out of business while he was working for them). What's hurting them the most is that the vast majority of traditional freight companies (by traditional I'm excluding UPS and FedEx) once were Teamster unionized but now the majority are non-union and operate their own individual plans (if they offer any at all). PBGC is in enough trouble with all the airlines ditching their plans. If Central States goes belly-up PBGC will probably be insolvent. Which means more bailouts. Which means more FedGov borrowing from the printing press that is the Federal Reserve. At that point there may not be ANY plan that helps anyone. Even a totally private one.
Thu, 07 Apr 2016 21:17:05 +0000Justice delayed is justice denied. This time, Justice is served.