THE “HOPE &
CHANGE” HUCKSTER WHO REALLY WAS GEORGE BUSH’S THIRD AND FOURTH TERMS ON
STEROIDS!
“The
long-term reversal of the social gains made by the working class has
only
accelerated in the wake of the 2008 economic crisis. President Obama
has
overseen one of the greatest transfers of wealth from the working
class
to
the rich in world history.”
June 19, 2016
Report: Private pension plans in danger of becoming insolvent in less than a decade
A report issued by the Pension Benefit Guarantee Corporation (PBGC) is warning that unless reforms are made to private, multi-employer pension plans, many of them could become insolvent by 2025.
Washington Examiner:
The problem is simple: Too many of the plans have not been adequately funded. "While multi-employer plans are typically less well funded than single-employer plans, most multi-employer plans are projected to remain solvent over the next 20 years. However, a core group of plans appears unable to raise contributions sufficiently to avoid insolvency," the report said.
Washington Examiner:
The problem is simple: Too many of the plans have not been adequately funded. "While multi-employer plans are typically less well funded than single-employer plans, most multi-employer plans are projected to remain solvent over the next 20 years. However, a core group of plans appears unable to raise contributions sufficiently to avoid insolvency," the report said.
An estimated 14,000 multi-employer plans cover 10 million people in the U.S. The multi-employer pension system is funded at only 41 percent, which translates to an estimated $610 billion in unfunded liabilities, according to the House Education and the Workforce Committee.Pension obligations for companies have been soaring due to rising health insurance costs and shrinking workforce. But unfunded liabilities of more than $600 billion not only threatens retirees, but also the taxpayer. In addition to private pension shortfalls, there are also hundreds of public pensions being threatened by insolvency. Taken together, the bill that could be presented in the future to taxpayers could top $1 trillion.
Rep. John Kline, R-Minn, chairman of the House Education and Workforce Committee, said the report "put in stark detail" the risks to both workers and taxpayers.
"Today is a reminder of the urgent need to enact additional reforms to strengthen multi-employer pensions, reforms that would modernize the system for workers and provide PBGC additional resources to meet its obligations. There have never been any easy answers, and it's time for those who oppose recent reforms to be honest about these challenges and put forward responsible solutions," Kline said.
Multi-employer plans involve several companies and unions jointly managing a pension fund for all their workers. The plans are favored by unions because they remain with workers even if they switch jobs. However, they are risky for businesses because if one employer goes bankrupt, the others are legally obligated to cover its contribution. Reports of the financial woes of some plans have prompted many companies to try to get out of the system. In 2006, the United Parcel Service paid $6.1 billion to pull out of the drastically underfunded Teamsters' Central States plan.
The time to deal with these threats is now while fixing the problems can be done with little pain. If we wait until the crisis is fully upon us, the resulting bailouts could add trillions to the deficit and severely effect the economy.
A report issued by the Pension Benefit Guarantee Corporation (PBGC) is warning that unless reforms are made to private, multi-employer pension plans, many of them could become insolvent by 2025.
Washington Examiner:
The time to deal with these threats is now while fixing the problems can be done with little pain. If we wait until the crisis is fully upon us, the resulting bailouts could add trillions to the deficit and severely effect the economy.
Washington Examiner:
The problem is simple: Too many of the plans have not been adequately funded. "While multi-employer plans are typically less well funded than single-employer plans, most multi-employer plans are projected to remain solvent over the next 20 years. However, a core group of plans appears unable to raise contributions sufficiently to avoid insolvency," the report said.Pension obligations for companies have been soaring due to rising health insurance costs and shrinking workforce. But unfunded liabilities of more than $600 billion not only threatens retirees, but also the taxpayer. In addition to private pension shortfalls, there are also hundreds of public pensions being threatened by insolvency. Taken together, the bill that could be presented in the future to taxpayers could top $1 trillion.
An estimated 14,000 multi-employer plans cover 10 million people in the U.S. The multi-employer pension system is funded at only 41 percent, which translates to an estimated $610 billion in unfunded liabilities, according to the House Education and the Workforce Committee.
Rep. John Kline, R-Minn, chairman of the House Education and Workforce Committee, said the report "put in stark detail" the risks to both workers and taxpayers.
"Today is a reminder of the urgent need to enact additional reforms to strengthen multi-employer pensions, reforms that would modernize the system for workers and provide PBGC additional resources to meet its obligations. There have never been any easy answers, and it's time for those who oppose recent reforms to be honest about these challenges and put forward responsible solutions," Kline said.
Multi-employer plans involve several companies and unions jointly managing a pension fund for all their workers. The plans are favored by unions because they remain with workers even if they switch jobs. However, they are risky for businesses because if one employer goes bankrupt, the others are legally obligated to cover its contribution. Reports of the financial woes of some plans have prompted many companies to try to get out of the system. In 2006, the United Parcel Service paid $6.1 billion to pull out of the drastically underfunded Teamsters' Central States plan.
The time to deal with these threats is now while fixing the problems can be done with little pain. If we wait until the crisis is fully upon us, the resulting bailouts could add trillions to the deficit and severely effect the economy.
Read more: http://www.americanthinker.com/blog/2016/06/report_private_pension_plans_in_danger_of_becoming_insolvent_in_less_than_a_decade.html#ixzz4C2RJzvYM
OBAMA-CLINTONOMICS: The rich get much richer, cronies stay out of prison and illegals get millions of jobs and billions in welfare…..
Poverty has become more concentrated under Obama
By Nancy Hanover
Under the Obama administration, more Americans have
found themselves consigned to economic ghettos, living in
neighborhoods where more than 40 percent subsist below
the poverty level. Millions more now live in “high poverty” districts of 20-40
percent poverty, according to recently released report by the Brookings Institution.
OBAMA-CLINTONOMICS: The final death
of the American Middle Class and the
staggering expansion of the LA RAZA
Mexican welfare state
of the American Middle Class and the
staggering expansion of the LA RAZA
Mexican welfare state
THE “HOPE & CHANGE” HUCKSTER
WHO REALLY WAS GEORGE BUSH’S
THIRD AND FOURTH TERMS ON
STEROIDS!
WHO REALLY WAS GEORGE BUSH’S
THIRD AND FOURTH TERMS ON
STEROIDS!
“The long-term reversal of the social gains made by the working class has
only accelerated in the wake of the 2008 economic crisis. President Obama
has overseen one of the greatest transfers of wealth from the working class
to the rich in world history.”
HILLARIA’S PROMISE TO ILLEGALS: 49 MORE MEXIFORNIAS
THEY INVADE BY INVITATION OF THE DEMOCRAT PARTY, THEN
MURDER, RAPE, LOOT AND VOTE DEM FOR EVEN MORE.
THE LA RAZA MEXICAN WELFARE STATE ON THE LEGALS’ BACKS…. Not one of us voting to be Mexico’s trillion dollar welfare office!
(THE TRAGEDY FOR LEGALS LIVIING IN MEX-OCCUPIED CA IS THAT THERE ARE NEARLY 15 MILLION LOOTING MEXICANS AND THEY’RE BREEDING LIKE CATHOLIC BUNNIES. NOW DO THE MATH!)
LA RAZA-OCCUPATION and LOOTING in MEXIFORNIA…. shocking!
Californians bear an enormous fiscal burden as a result of an illegal alien population estimated at almost 3 million residents. The annual expenditure of state and local tax dollars on services for that population is $25.3 billion. That total amounts to a yearly burden of about $2,370 for a household headed by a U.S. citizen.
THE ENTIRE REASON FOR THE AMNESTY HOAX TO LEGALIZE MEXICO’S LOOTING IS TO KEEP WAGES DEPRESSED!
http://hillaryclinton-hitecollarcriminal.blogspot.com/2016/06/wall-street-and-mexico-rect-president.html
"The country is now at the edge of an abyss following years of obfuscation, unaccountability, subterfuge, and law evasion by the Obama administration that have numbed much of its citizenry into a kind of base “group think acceptance” of government corruption and abuse of power. Resetting Americans’ trust in government needs to start with holding people in high office, like Hillary Clinton, accountable."
SEN. SANDERS SURRENDERS TO HER CORRUPTNESS…
Will he serve her Wall Street Paymasters also?
SO MUCH FOR BERNIE’S POPULIST CRAP!
Hillary & Billary….. Operating like third
world dictators sucking in the bribes from every criminal and sleaze bag they
know and they know all of them!
Hillary Clinton Signals LA RAZA SUPREMACIST
Cecilia Munoz will make a great Vice President. Munoz is endorsed by Mexico.
CECILIA
MUNOZ, A LA RAZA SUPREMACIST FASCIST, IS FUNDED WITH AMERICAN TAX DOLLARS AND
WORKS FOR LA RAZA OUT OF THE OBAMA WHITE HOUSE (google it).
NEW YORK
TIMES (MEX-OWNED MOUTHPIECE FOR LA RAZA PROPAGANDA)
Cecilia
Munoz - Formerly of the 'Tan Klan'
Now works in
Intra-government Affairs for the White House
Radical
Mexican Reconquista zealot Munoz speaking at a soiree thrown by the miserable
ADL.
From the New
York Times - October 22, 2000
Despite the
fact that the majority of documented Hispanics oppose illegal immigration, as
do the majority of Americans, Aztlan and La Raza race hate groups have become
the self-appointed voice for a separatist movement that threatens a violent
overthrow of the Constitutional system and a barbaric program of ethnic
cleansing. This is held up by the media as 'diversity' and to vociferously
oppose it is scorned as racism. Aztlan
and Mecha groups advocate killing all whites and blacks and driving them out of
the southern states by means of brutal ethnic cleansing.
Islamism is the great evil of our age….
“Instead, with the
aid of our media and Internet, we greet each new act of
Islamic murder
with a show of lies and anger. The Left is in charge of the lies. They tell us,
in Hillary Clinton’s absurd words, that “Muslims . . . have nothing whatsoever
to do with terrorism.”
The
second comes from “Shep” on a Disqus comment at Scott Adams’s blog. It is particularly poignant today, in the wake of
Hillary calling out the Saudis for funding radical Islam, and posing as a
friend of gays:
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