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Perspectives/Retirement/Pension Challenges

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S&P 500 Pensions Most Underfunded Since ’99, Credit Suisse Says

Post  sc4ram on Sat Sep 25, 2010 1:17 am



http://www.bloomberg.com/news/2010-09-22/s-p-500-pensions-most-underfunded-since-99-credit-suisse-says.html?cmpid=yhoo
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County workers stockpile unused time

Post  sc4ram on Mon Oct 25, 2010 1:11 am



http://www.floridatoday.com/article/20101024/NEWS01/10240317/Workers-stockpile-unused-leave-time
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Paring the benefits

Post  sc4ram on Thu Oct 28, 2010 1:31 am



Paring the benefits
http://www.floridatoday.com/article/20101027/OPINION/101026027/1004/Our+views++Paring+the+benefits+(Oct.+27)
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They are Still Comming after our 401Ks

Post  sc4ram on Tue Nov 02, 2010 1:21 am



Unions target your private retirement savings:
http://www.washingtonexaminer.com/opinion/columns/Unions-target-your-private-retirement-savings-1398118-106409193.html

WSJ: Are 401(k)s safe from congressional Democrats?
http://online.wsj.com/article/SB122477680834462659.html

401(k) Foe Teresa Ghilarducci, the Most Dangerous Woman in America US News & World Report
http://money.usnews.com/money/blogs/capital-commerce/2008/10/29/401k-foe-teresa-ghilarducci-the-most-dangerous-woman-in-america
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State Employees may have to contribute their retirement plans

Post  sc4ram on Mon Dec 13, 2010 2:22 pm



Aaron Deslatte- Orlando Sentinel 12-12-10

An employee-contribution requirement was repealed nearly 40 years ago, as an incentive to make low-paying state jobs more attractive. But Scott and GOP lawmakers have savaged the perk as being out-of-step with private-sector benefits. And during his campaign, Scott said the state could save $1.4 billion by making state workers – as well as the local teachers, police and firefighters who also participate in the state retirement system -- start paying into their pension plans.





Mike Thomas - Orlando Sentinel 12-12-10

Florida is not mentioned in the Times story. Imagine that, an epic states-are-doomed yarn with nary a word about good old Flori-duh.

We have one of the healthiest pension funds in the country following a scare during the 2008 market crash.

The lesson is to cash out while we can. This means putting new employees in 401K pension plans, requiring 5 percent contributions from state employees, and ending the sweetheart pension deals for public safety employees and politicians.

The other threat to state budgets is Medicaid. Again, we are further along than most in dealing with it, thanks to a cost-containing, managed-care pilot project that Jeb Bush started. It's not the final answer, but it provides the framework for one.

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Town that Quit Paying Pensions

Post  sc4ram on Fri Dec 24, 2010 6:36 pm



http://finance.yahoo.com/news/Alabama-Towns-Failed-Pension-nytimes-93215960.html?x=0
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Europe starts confiscating private pension funds

Post  sc4ram on Wed Jan 05, 2011 1:38 am

Hope nobody tells the Admin about this one, they dont need anymore bad ideas........

http://washingtonexaminer.com/blogs/beltway-confidential/2011/01/europe-starts-confiscating-private-pension-funds
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More on potential confiiscation of private retirement accounts

Post  sc4ram on Mon Jan 10, 2011 1:19 am



http://www.foxnews.com/on-air/cost-of-freedom/index.html#/v/4489936/cashin-in-is-your-nest-egg-safe/?playlist_id=86911
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City Pension pays more than average worker earns

Post  sc4ram on Mon Jun 20, 2011 11:10 pm

Only in Frisco.........


http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2011/06/18/BA791JUFU5.DTL
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Pension Plans get Blame

Post  sc4ram on Mon Jul 11, 2011 2:11 pm



http://www.palmbeachpost.com/news/palm-beach-gardens-to-seek-cutbacks-in-city-1597224.html?showComments=true
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AARP's plan would still blow up economy — just not now

Post  sc4ram on Thu Jul 28, 2011 6:03 pm




http://www.orlandosentinel.com/news/politics/os-mike-thomas-entitlements-072611-20110725,0,426373.column
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Delphi (GM) Pensions and Uncle Sam

Post  sc4ram on Fri Sep 02, 2011 1:11 pm



http://blogs.democratandchronicle.com/business/2011/08/30/look-for-the-union-label-delphi-pensions-and-uncle-sam/
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Gap in US pension plans hits $388bn

Post  sc4ram on Sat Sep 10, 2011 1:51 pm



http://www.ft.com/cms/s/0/1adc855a-d567-11e0-bd7e-00144feab49a.html#axzz1XZIE3Z82
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Social Security is Not a Ponzi Scheme?

Post  sc4ram on Sat Sep 10, 2011 2:18 pm




http://reason.com/blog/2011/09/07/mr-perry-social-security-is-no
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Re: Perspectives/Retirement/Pension Challenges

Post  nancym on Mon Sep 12, 2011 7:16 pm

sc4ram wrote:


http://reason.com/blog/2011/09/07/mr-perry-social-security-is-no

The writer of this article seems to be even more uninformed than Rick Perry.

"Over the years, trillions of dollars have been spent on these groups and bureaucrats." -- Um, care to back that up with facts? The Social Security fund has moved loads of money into other areas over the years, but not by raids or theft or corruption, rather by buying bonds, i.e., investing it in the country. And they make interest on that money, so why shouldn't they do that.

Beware of hyperbole in these types of articles, on both sides of the aisle; the larger the figures, the more likely the writer doesn't have a clue about the facts.

Try these more sane writers for a more fact-based approach about Social Security, including the myth about "Social Security is broke":

"Is Social Security a Ponzi Scheme?"
http://moneywatch.bnet.com/retirement-planning/blog/money-life/is-social-security-a-ponzi-scheme/2595/?tag=content;col1

"Social Security: NOT Going Broke"
http://moneywatch.bnet.com/economic-news/blog/financial-decoder/social-security-not-going-broke/2797/?tag=content;col1

So you can decide whose opinion you want to take seriously-- Shikha Dalmia, a reporter with no real money and investment credentials who occasionally pimps for Fox News, or the other two writers who actually have enough experience to speak sensibly about the subject.

In a nutshell: Don't believe the hype.
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Re: Perspectives/Retirement/Pension Challenges

Post  sc4ram on Mon Sep 12, 2011 8:14 pm

Well nancy, Im afraid we'll have to agree to disagree on this one. I refuse to accept the premise put forward by much of the media if you call SS a ponzi scheme that you are some kind of nut. I agree with the article/s premise that it is WORSE than a ponzi scheme, in that it is mandatory and the trust fund has been willfully raided by putting it "on budget" and counting its receipts with the general revenues. (which by any accounting standard would not of produced a balenced budget in the years our govt bragged about having one)

Yes there is a drawer full of IOU's (bonds) somewhere that are simply a "promise to pay" to the social security trust fund. These are the same promises to pay that were downgraded by S&P last month and are largely financed by forgien govts (the Chinese being the primary lenders) . Not to mention, with the current economic slowdown, high unemployment, perpetual payroll tax holidays, and the baby boomer bubble about to suscribe, the estimates of the "fund's" longevity are constantly being revised downward (after everybody said a few years ago that SS was "fine", Sen Schumer comes to mind as one of the loudest blow-hards on this) . Just last month there was a report that the SS Disability fund was broke as a result of the recession.

The last administration had a plan to reform it and nobody else in the leadership had the fortitude to proceed, the current Prez appointed the Simpson/Bowles comission to reccomend a solution (some of which I dont agree) and the current Prez couldnt bring himself to act. It is simply a case of kick the can so it doesnt collapse on his watch. To use a phrase, the "chickens will come home to roost" on this one.

IMO it is a ponzi scheme (although a well docmented one if anybody cares to read the info that is out there) and Im glad that there are people out there calling a spade a spade.
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Ponzi should of been Social Security Commisioner

Post  sc4ram on Mon Sep 19, 2011 11:17 pm




http://www.washingtonpost.com/opinions/a-ponzi-scheme-that-should-be-fixed/2011/09/15/gIQAn6EfVK_story.html
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Kodak retirees worry over pensions

Post  sc4ram on Wed Oct 05, 2011 4:24 pm




http://www.democratandchronicle.com/article/20111005/BUSINESS/110050312/Kodak-retirees-worry-over-pension-health-care?odyssey=tab|mostpopular|text|FRONTPAGE
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Taxpayers Benefit from Pension Reform

Post  sc4ram on Wed Oct 19, 2011 5:43 pm



http://www.orlandosentinel.com/news/opinion/os-ed-public-pension-savings100811-20111007,0,2766122.story
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401K Matching Restored by 75% of Companies

Post  sc4ram on Wed Nov 02, 2011 5:05 pm




http://ap.news-journalonline.com/dynamic/stories/U/US_401K_MATCHES_RESTORED?SITE=FLDAY&SECTION=HOME&TEMPLATE=DEFAULT
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Main Street says look at Pensions

Post  sc4ram on Thu Nov 17, 2011 1:11 pm





http://www.nytimes.com/2011/11/13/business/dear-committee-main-st-says-look-at-pensions.html?pagewanted=1&_r=1&ref=gretchenmorgenson
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Public workers retirement age comming under more scrutiny

Post  sc4ram on Sun Dec 11, 2011 4:11 pm




http://ap.news-journalonline.com/dynamic/stories/U/US_BROKEN_BUDGETS_RETIREMENT_AGE?SITE=FLDAY&SECTION=HOME&TEMPLATE=DEFAULT
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Special retirement benefits not so special...........

Post  sc4ram on Sun Dec 11, 2011 4:17 pm




http://www.azcentral.com/business/articles/2011/12/09/20111209States-expand-lucrative-pensions-to-more-jobs.html
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NASA to make pensions whole

Post  sc4ram on Wed Mar 14, 2012 5:50 pm



http://www.spacenews.com/civil/120309-nasa-close-usa-pension-shortfall.html
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NY unions to withold political contributions over pension reform

Post  sc4ram on Tue Mar 20, 2012 1:48 pm




http://www.fltimes.com/news/state/article_4ffc98ac-da86-5935-9bfa-01e841996366.html
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