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View Diary: Hostess took workers' pension money to fund itself (158 comments)

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  •  Well (6+ / 0-)

    All the already contributed funds are safe.

    This situation is about the employer ceasing to make contributions going forward.

    I suggest that 'depending' on your pension being there in full is a bad idea. You should be saving money alongside the pension contributions (does your company offer a 401k?). Whether you are public or private, you can't really control the pension if your employer fails to live up. The best thing you can do is make supplementary plans.

    (-5.50,-6.67): Left Libertarian
    Leadership doesn't mean taking a straw poll and then just throwing up your hands. -Jyrinx

    by Sparhawk on Mon Dec 10, 2012 at 02:20:18 PM PST

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    •  2% of annual salary is not chump change (12+ / 0-)

      Why SHOULDN'T I be able to count on it?   It's a contract just as much as investing in a 401K is, it seems to me.  Financial agreements made on paper.  And and we count on the duly provided rules of THOSE being followed, right?

      "The extinction of the human race will come from its inability to EMOTIONALLY comprehend the exponential function." -- Edward Teller

      by lgmcp on Mon Dec 10, 2012 at 02:24:06 PM PST

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      •  I agree (4+ / 0-)
        Recommended by:
        lgmcp, kerplunk, Amber6541, soros

        You should.

        But can you?

        If you can't, you'll have little recourse. That's just the state of public policy these days, and more likely to get worse than better in the future.

        That's just reality.

        (-5.50,-6.67): Left Libertarian
        Leadership doesn't mean taking a straw poll and then just throwing up your hands. -Jyrinx

        by Sparhawk on Mon Dec 10, 2012 at 02:29:13 PM PST

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    •  Didn't Zell use the Trib Employee Pension fund (4+ / 0-)
      Recommended by:
      lgmcp, llywrch, mmacdDE, happymisanthropy

      I thought that Sam Zell used the Tribune pension fund to be a substantial component of his part of the leveraged buyout and therefore gutted it with the benefits going to himself, even though he destroyed the paper in the process.

      •  That's the Bain way. (1+ / 0-)
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        salmo

        The turn around artist came too damn close to turning around our country. After all we have a nice fat pension fund to lure him. It's called Social Security.

        I'm asking you to believe. Not in my ability to bring about real change in Washington ... *I'm asking you to believe in yours.* Barack Obama

        by samddobermann on Tue Dec 11, 2012 at 03:08:53 AM PST

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