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3/26/2017 9:56:41 PM Your Pension - Do You Feel Lucky?  
Rainiqui
Windsor, ON
55, joined Oct. 2016


It has been said that America is living on borrowed time regarding yet another financial crisis - that of impoverished pension funds that cannot pay out what they promised to retirees.

How secure do you feel about your own pension fund if you have one?

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3/26/2017 10:17:59 PM Your Pension - Do You Feel Lucky?  
61falcon
Over 10,000 Posts!!! (43,562)
New Hope, PA
76, joined Feb. 2008
online now!


As it stands right now GM and Verizon have both sold their retirees pension plans to Prudential Insurance as have other companies sold their plans to other insurance companies.If any of these buying insurance companies go belly up,the retirees are out of luck as they are not now covered by the Pension Guarantee Benefit Trust.

3/26/2017 10:20:34 PM Your Pension - Do You Feel Lucky?  
61falcon
Over 10,000 Posts!!! (43,562)
New Hope, PA
76, joined Feb. 2008
online now!


Any pension plans that have those magic words'We reserve the right to alter or change the terms or provisions of this plan at any time',are out of luck.

3/26/2017 10:27:30 PM Your Pension - Do You Feel Lucky?  

nycman530
Over 10,000 Posts!!! (19,156)
New York, NY
64, joined Dec. 2010


Even though my pension is small(about 30% of my salary, when you add Social Security and my monthly payment from my IRA (Thrift Savings Plan)I'm doing okay. Plus I have very good liquid assets from stocks and bonds and I will soon move from my studio to a much larger one bedroom apartment in NYC by the summer. Life is good!

3/26/2017 11:04:27 PM Your Pension - Do You Feel Lucky?  
61falcon
Over 10,000 Posts!!! (43,562)
New Hope, PA
76, joined Feb. 2008
online now!


NYC is a very tough city to retire in, too expensive with too many taxes.

3/26/2017 11:28:55 PM Your Pension - Do You Feel Lucky?  

nycman530
Over 10,000 Posts!!! (19,156)
New York, NY
64, joined Dec. 2010


Quote from 61falcon:
NYC is a very tough city to retire in, too expensive with too many taxes.


Not for me!