Can you afford to retire? UAL mechanic featured.

[PhatSappy]

This Frontline story from 2006 features a UAL mechanic and industry experts, details evolution of 401k systems and demise of company contributions to defined benefit plans.

Frontline Story

I can't. It's time for new planning, new thoughts, better options. Working longer than previously thought.

All the democrats and all the republicans have failed US. FAILED

 

[PhatSappy]

See: http://www.nasra.org/resources/nebraskastudy.pdf

Results of the Nebraska study showed – with over 40 years of mixed “defined contribution” plans, the plans were inadequate. “People didn’t have enough in their accounts to retire”; stated Anna Sullivan, Dir., Nebraska Retirement System. “They don’t have enough to live on in their retirement”.
Frontline: After the study, “the state of Nebraska ended it’s 401k style plan for new employees, and allowed old 401k participants to shift to the “lifetime pension plan”.

 

[usa1]

Have been trying to show this to US Airways employees for 10 years ..... 45 to 55 year old's with 25 pulse years of service are totally screwed????? Most of them don't realize it yet. If the Ryan plan goes through and you haven't turned 55 by the end of this week you loose most of your SS-Medicare.

 

[usa1]

Since 2006 the PBGC has gone broke ..... without a major government bailout, very soon, it's toast.

The nation is in the same boat as the airlines now. The government is now 17 trillion dollars in debt. The private sector can't carry the public sector anymore. If the public sector doesn't give up 30% of their defined pension and 25% of their pay, like we have, our nation will go under. It's all huge ponzi scheme.

401K's turned out to be nothing more than smoke mirrors, just like our defined pension. The Cooperation's CEO's, CFO's, and bankers are getting rich on our labor and retirement contributions. I was stupid enough to put 20% of my income in mine and I have exactly what this story describes.

Now Paul Ryan wants your your Social Security and Medicare benefits. If it worked for the cooperation why not for the federal level. Bend over boys and girls.

I truly hope AA employee's can make a stand ...... I fear an industry wide labor action? I hope not?

 

[PhatSappy]

There's no question that Americans are all victims of a massive Ponzi scheme.

AA employees aren't going to be given anything other than humiliation, no thanks to piss poor managers, a corrupt legal system, and political leadership working for Wall St. on one hand, and the Trial Lawyers Association on the other.