Friday, September 16, 2005

Bankruptcies: The threat to your pension

Doug:

Please post this important and relevant link:

http://money.cnn.com/2005/09/15/retirement/pensions/index.htm

Please post anonymously.

Thanks.


Comments:
The Federal government can't go broke, and they never lie. What's
to worry about. We'll all be fine with Bush at the helm.
 
The US pension mess is going to get much worse in the next few years:

LA Times - Pension Deficit Is Expected to Surge

- The nation's insurer for employee plans could see its shortfall
quadruple in 10 years.

http://www.latimes.com/business/la-fi-pension16sep16,1,4564560.story
 
New York Times: Whoops! There Goes Another Pension Plan - Septh 18th

http://www.nytimes.com/2005/09/18/business/18pensions.html

ROBERT S. MILLER is a turnaround artist with a Dickensian twist. He unlocks
hidden value in floundering Rust Belt companies by jettisoning their pension
plans. His approach, copied by executives at airlines and other troubled
companies, can make the people who rely on him very rich. But it may be
creating a multibillion-dollar mess for taxpayers later.
 
If unscrupulous individuals can figure out a way to steal or reduce your pension,
they will. Too much money is on the table for these sleazy operators to ignore.
What's really sad is that our current political leaders seem to have no qualms in
letting the pension-robbers go about their business. Why is that?
 
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