If this is your first visit, be sure to check out the FAQ by clicking the link above. You may have to register before you can post: click the register link above to proceed. To start viewing messages, select the forum that you want to visit from the selection below. |
|
|
Thread Tools | Display Modes |
#71
|
|||
|
|||
"John Galban" wrote
The deferred compensation described sounds like the company promising to pay you later (originally because they couldn't afford to pay now). Nope... at PanAm, at contract time, there were just so many dollars on the table, take them now or take them later. We, the pilots had our choice, more pay...more vacation...more health care...or more pension, take your choice. At PanAm, we usually sacraficed pay for better working conditions....and our working conditions were great! A 401K (or similar individual retirement account) is usually not under the direct control of a company, and cannot be squandered by them. A promise by a company to pay your salary after retirement is just that. Words. Not at PanAm, the pilot group (unlike the other employee groups) insisted that our pension plan be held by an outside source, in this case, Prudential Insurance, and PanAm paid monthly on behalf of each of us. We felt fairly safe when the axe fell on PanAm.....WRONG! Prudential went to the NY Federal Court and obtained permission to dump the obligation off to the PBGC. You can't trust anyone. Bob Moore |
#72
|
|||
|
|||
The PBGC funds pensions based on premiums paid by companies with
pensions--not taxes. From their website: "Our financing comes from insurance premiums paid by companies whose plans we protect, from our investments, and from the assets of pension plans that we take over, but not from taxes." |
#73
|
|||
|
|||
The guarantee comes from the PBGC which is funded by payments from
companies, not taxes. -Jim |
#74
|
|||
|
|||
"Jim" wrote in message oups.com... The guarantee comes from the PBGC which is funded by payments from companies, not taxes. -Jim What happens if it runs out of money? Government bail out or tough luck? |
#75
|
|||
|
|||
Boycott United and drive them out of business. That will show all those
shareholders, many of whom are retirees what we mean! That will teach CEOs not to take risks and let their companies die a normal and slow death rather than try to reform the compay and have a chance to succeed. BTW: Don't forget that the pension as paid for by the U.S. taxpayers now was funded by the pension guarantee fund, a fund provided for by the pensions themselves. Its like we're a big insurance company. The U.S. gov't accepted the premiums, we need to pay out. -Robert |
#76
|
|||
|
|||
So you believe the purpose of a corporation in the U.S. is to provide
employment. Mr. Marx, I think you're dated. It's the stockholders who have a duty to police the compenstion packages of CEOs, not mommy government. Its the stockholder's money. -Robert |
#77
|
|||
|
|||
The funding for the PBGC does not come from taxes. You will not be
paying them. -Jim |
#78
|
|||
|
|||
"Robert M. Gary" wrote in message oups.com... Boycott United and drive them out of business. That will show all those shareholders, many of whom are retirees what we mean! That will teach CEOs not to take risks and let their companies die a normal and slow death rather than try to reform the compay and have a chance to succeed. Riiiiiiiiight. "Teach CEOs not to take risks" like ensuring their own $1.5 million pensions while screwing everyone who worked for the company." It'd teach the shareholders and future businesses to pay more attention to their employees, though, huh? -c |
#79
|
|||
|
|||
"Robert M. Gary" wrote in message So you believe the purpose of a corporation in the U.S. is to provide employment. Mr. Marx, I think you're dated. It's the stockholders who have a duty to police the compenstion packages of CEOs, not mommy government. Its the stockholder's money. To whom is this addressed?! |
#80
|
|||
|
|||
"GP" == George Patterson writes:
GP You're thinking of a 401K. A pension used to be a guaranteed GP retirement income in exchange for spending your life working GP for the company. One could argue that you exchanged a higher GP salary for a lower salary and a pension, but no money was GP taken out of your paycheck. I work for the State of California, have a defined-benefit pension, and for sure they take money from my salary to help fund the pension. |
Thread Tools | |
Display Modes | |
|
|
Similar Threads | ||||
Thread | Thread Starter | Forum | Replies | Last Post |
No US soldier should have 2 die for Israel 4 oil | Ewe n0 who | Naval Aviation | 0 | April 7th 04 07:31 PM |
Osama bin Laaden | Big John | Piloting | 2 | January 12th 04 04:05 AM |
Big Kahunas | Jay Honeck | Piloting | 360 | December 20th 03 12:59 AM |
Two Years of War | Stop Spam! | Military Aviation | 3 | October 9th 03 11:05 AM |
U.S. is losing the sympathy of the world | John Mullen | Military Aviation | 149 | September 22nd 03 03:42 PM |