Pension plans insolvency in 20 yrs

[Horsefly]

I've always said we need to focus on major programs impacting the central core of our country.  This is one example, the insolvency of pension plans that the tax payer may be asked to cover.  Thoughts?

 

http://money.cnn.com/2018/04/17/retirement/multiemployer-pension-committee/index.html

[World Citizen]

8 minutes ago, Horsefly said:

I've always said we need to focus on major programs impacting the central core of our country.  This is one example, the insolvency of pension plans that the tax payer may be asked to cover.  Thoughts?

 

http://money.cnn.com/2018/04/17/retirement/multiemployer-pension-committee/index.html

Big problem and they have done nothing really to fix it.  Except give more money to the rich via recent tax laws.  

Go into debt in order to get an education.

Work in order to have security and retire but find out there is not enough money.  

All while CEO's and shareholders get rich and 7 figure bonuses.  

They will be coming for SSN and Medicare $ soon.  

I have zero confidence congress can get anything done that will help.  

Im not sure if it's just the amount of retirees or if it was underfunded for years or both.  

 

[Gospeeder]

This train is already rolling... especially at the state level. There will be no fixes outside of two exceptions. First would be a tax reform that actually is effective. ( This past one is actually not very good and is geared for the short term ). Second would be; if all hard working Americans had the balls to simply go on a tax strike ( take the money away and force congress to make useful decisions while at the same time making the corruption less lucrative ). Of course we all  know those two solutions, which will only help start solving the problem, will never happen. When it crashes and burns, it will be ugly for all but the most wealthy.

[noonereal]

14 hours ago, Horsefly said:

I've always said we need to focus on major programs impacting the central core of our country.  This is one example, the insolvency of pension plans that the tax payer may be asked to cover.  Thoughts?

 

http://money.cnn.com/2018/04/17/retirement/multiemployer-pension-committee/index.html

I don't want to pay for these nor the state nor federal pensions. 

[Horsefly]

34 minutes ago, noonereal said:

I don't want to pay for these nor the state nor federal pensions. 

Federal workers have all pretty much converted to FERS, the federal employees retirement system that covers retirement through three parts: a thrift savings plan, social security and a basic benefit plan.  Previous to that it was all 100% gov funded with no employee contribution.  The military went through this conversion this past January.  So it's a start, placing more responsibility onto the employee and their own contribution.