PBGC

[supercruiser]

Actually, it was a 85 point plan. And a sweet deal that many took advantage of, and then had the rug pulled out from underneath them.

Under our plan, we can draw at age 50 at a reduced rate. At 55, we can opt for the Health Care Tax Credit until 65 and Medicare kicks in.

Unfortunately the Health Care Tax Credit is set to terminate 12/31/2013. I've been told the savings from terminating this program will go towards Obamacare for affordable health insurance for all.

 

[usa1]

So we will end up in a state run Obama welfare pool.

 

[usa1]

Maybe we can get a bridge to Medicare in our next contract.

 

[Real tired]

Unfortunately the Health Care Tax Credit is set to terminate 12/31/2013. I've been told the savings from terminating this program will go towards Obamacare for affordable health insurance for all.

I did not know that. Thanks for the news anyways, even though it's potentially bad news. Or could it be good news? No one knows. There's so little information available about the upcoming changes.

That HCTC was our "ace in the hole". I hope we don't end up 'taking it in the .........".

 

[usa1]

More bad news for retirees?

The problems the senator was referring to are the country's entitlement programs. And there was some progress on that front, too.
A leading Democrat said means testing for Medicare recipients could be a way to cut costs to the government health insurance program. "I do believe there should be means testing, and those of us with higher income and retirement should pay more. That could be part of the solution," Sen. Dick Durbin of Illinois said on NBC's "Meet the Press."

Advice ... Stop working, stop putting money into your 401k ..... it's not worth it. Those that don't work get healthcare for free and those that bust their butts will pay .... out their butt!

http://news.yahoo.com/boehner-obama-meet-face-face-fiscal-cliff-talks-233433785.html

 

[blue collar]

More bad news for retirees?



Advice ... Stop working, stop putting money into your 401k ..... it's not worth it. Those that don't work get healthcare for free and those that bust their butts will pay .... out their butt!

http://news.yahoo.com/boehner-obama-meet-face-face-fiscal-cliff-talks-233433785.html

Why did you bold 'a leading democrat'?

 

[FWAAA]

Why did you bold 'a leading democrat'?

Probably because it wouldn't be surprising for a Leading Republican to say that Medicare benefits should be means-tested, but it's at least a little surprising to hear it from a Leading Democrat.

 

[usa1]

Probably because it wouldn't be surprising for a Leading Republican to say that Medicare benefits should be means-tested, but it's at least a little surprising to hear it from a Leading Democrat.

Yep

 

[autofixer]

You ain't seen nothing yet! Enjoy the whirlwind.

 

[usa1]

Just what we need ... more insensitives to not work.

 

[usa1]

http://www.pionline.com/article/20121224/PRINTSUB/312249983/pension-experts-hope-pbgc-creativity-doesnt-go-too-far

 

[WorldTraveler]

http://www.pionline....esnt-go-too-far

The PBGC is insurance which was paid for.... it is possible (anything is) that the PBGC could go broke and need a bailout from Congress but it is a big step to think that Congress will just wipe away earned benefits. The political impact of such a move would be enormous and will last for decades until the number of Americans with PBGC insured benefits diminishes significantly.

As an insurer, the PBGC has a responsibility to manage losses, just as any private insurer or property would do. Your homeowner's insurance carrier could demand changes to the way you use your property if you are increasing their risks. The PBGC is no different.

BTW, Social Security is both an entitlement and an earned benefit. There are many Americans who are receiving benefits in excess of what was contributed to their accounts.

It is a given that entitlement benefits throughout the US will continue to come under pressure until the economy grows enough to start paying down debt instead of taking on more of it.