Retirees

The problem runs far deeper than that.

Insurance companies have been in business for decades. How? Actuarial tables.

They know, NOW, what their future liabilities are.

What U, and US Steel, and UA knew, when they 'promised' a pension, was their future liability.

Moreover, so did the PBGC. In order to offer a defined benefit plan, companies had to meet PBGC criteria.

Those criteria are woefully inadequate (see U, UA and US Steel's pension quandries as prime facie evidence).

'Employee' pension plans have always been little more than a corporate piggy bank, with 'Break in case of emergency' stenciled on it.

And the company gets to define or create the 'emergency'.

Now, corporate apologists will point to the post 9/11 stock market decline as the reason for the pension problems.

Conservative investment planning takes such downfalls into account - they have happened before, and will do so again.

The simple truth is, the companies did not want to sufficiently fund pension accounts, and the government aided and abetted in it.
 
Please explain something to me. Will they just stop paying us our retirement money??? Or if we retired early will they stop paying it until our real social security kicks in. Or--will they give us what we put in in a lump sum---not in any contract we didn't have one then. Or what------------
 
The PBGC (i.e., the taxpayers, once removed)guarantees participating defined benefit plans, such as the agent pension that was frozen in '93.

Depending on a host of criteria, such as age at retirement, etc., your monthly income may remain the same, or may be reduced.

Now would be a good time for the unions to invite the PBGC to update employees on their prospects.
 
The reality is that if you depend on company promises or even contractural guarantees, you're a fool. Everybody has to do what the executives do . . . . GET IT UP-FRONT UNDER YOUR CONTROL SO Mr. CEO AND BODs CAN"T PUT IT IN THEIR POCKET FIRST.
 
usfliboi said:
Hope, I do support management, simply theres no other choice, if thousands of employees are to continue working...... you dont?
[post="227284"][/post]​

If somebody beats the snot out of you, do you go "please sir may I have another?" or do something else?
 
No I DO NOT SUPPORT MANAGEMENT ! ! !
They have proven time after time that they are NOT interested in turning around this company nor are they interested in the Employees or Retirees. All they care about is themselves. Hell, they don't even care about a passengers! Just look at most local managers, they were horrible as agents and got reward by being a yes boy/girl and some are now in charge of several LARGE stations. I know of at least two that should have been fired years ago. All I care about right now is making sure my check clears, and come to work and give 100%. And dont give me if I dont like it leave.....I do not need too. I have worked here over TWENTY years and I will leave when the last person out the door shuts off the lights for the final time.
 
No, Clue, You leave with the freedom you have, make a choice instea of making you and yours misarable.
 
usfliboi said:
No, Clue, You leave with the freedom you have, make a choice instea of making you and yours misarable.
[post="227584"][/post]​

Or maybe you fight for what is right and against those who beat the snot out of you.

If somebody slugs you in the street and takes $50 out of your wallet, do you voluntarily give them another $100?
 

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