31–40 of 221 posts
Yet these old folks all voted for trump/GOP. Good luck trying to make a living when they cut social security next year.
Sigh... the voting data is out there, and let's not all pretend the poor are any better off after ACA took effect. Clinton won the poor, Trump won the rich. When will you all stop with this?
[1] http://www3.weforum.org/docs/WEF_White_Paper_We_Will_Live_to... [PDF]
Is retirement planning (Live "below your means" and put in 20-30% or more of your salary towards long term investments), and family support (you fund your kids education and parents post retirement needs, and your kids fund your post retirement needs and your grandkids education) such an alien concept for Americans? When you manage it internally, instead of paying interest to a bank, you just have lost opportunity co…
There's a growing recognition today of a social crisis in Korea where the working generation today is less willing to support the parents who sank every dollar into pushing their children into lucrative professional careers. It sounds terrible, but from the children's perspective, they experienced less choice about their future because they're just an investment vehicle for their parents. The exact compact you descri…
Terrible spot to be in, hoping I will avoid it with a traveling retirement plan (401k). How do other 1st world countries manage elderly workers/people that should no longer work? SS is an option and I don't believe it will go bankrupt, wages of about 125K contribute to SS, anything larger does not. Just have to adjust that limit to keep it where it needs to be. So that helps a little bit.
I think most European countries have more generous/realistic state provided, financial retirement support.
The system will collapse eventually. More and more elderly to support by less and less active workers. The younger population is suffering from vast unemployment (25%) and they will never achieve 40 years of continuous work in their lifetime.
Republicans: This is too much money, we can't afford it, it's take from the rich, give to the poor, these social programs need to end. Grandma deserves to die under a bridge by herself, it's her own fault she didn't work harder or save more.
Me: A bullet to the head of the aging is more ethical than the Republican prescription. Yes, absolutely take the money from the wealthy and keep grandma off the street. Jesus...
Earlier quoted context omitted.
> It's more like the risk assumed by taking a job and expecting a salary Not really. The case doesn’t seem to involve the company trying to default on existing obligations. It involves them projecting future costs and deciding whether to carry them. This is akin to laying off an employee, something most states freely permit, more than defaulting on pay for work already done.
I just see it as making promises (pensions) the company was not committed to keep. I'm sure the judge didn't use the word "mendacity " lightly or unadvisedly.
Closing a plant to save money isn’t per se illegal (¶ 222). The employer just had to show they had a legitimate reason for closing the plant (¶ 223).
Instead, they kept talking about how the pension plan had nothing to do with the plant’s closure (¶ 226). That was not credible (¶ 263). (The plant’s employees had helped lobby for a new F-15 contract (¶ 15). There may have been political reasons the company couldn’t say “pension costs factored into our decision, though other reasons were prominent, too”.)
Since the “Defendant was in the best position to put forth the actual reasons for its decision, if in fact such reasons were legitimate” and it “repeatedly failed to do so, engaging in a pattern of discovery abuse and refusal to respond to proper inquiries by both Plaintiffs and the Court“ (¶ 257) the plaintiffs won (§ 4).
It is unclear how cleanly this unusual case generalises to the claim made in the original article.
[1] https://law.justia.com/cases/federal/district-courts/FSupp2/...
Disclaimer: I am not a lawyer. This is not legal advice.
Earlier quoted context omitted.
I think most European countries have more generous/realistic state provided, financial retirement support.
It varies vastly by country. In France, the state calculates a percent of your income during the 4X years you were working and gives you that as a pension. The estimation can be pretty complicated, but that's fair enough for a one line explanation. The system will collapse eventually. More and more elderly to support by less and less active workers. The younger population is suffering from vast unemployment (25%) and…
> The younger population is suffering from vast unemployment
It appears there is a lot of work to be done and a lot of idle workers to do it. The fact that both can exist in tandem seems like an indictment of how horribly inefficient our economic systems currently are.
Earlier quoted context omitted.
Yeah the only time it makes sense to have a 401k is if your company matches your contributions.
Don't they all have a match? It would be nice if people could keep the match and have more control over their portfolios. Buy & sell stocks, bonds, commodities, etc. whenever instead of a very small basket of mutual funds that can only be juggled a few times a year.
The employment contract was accompanied by a 50 page document explaining the pension system, a long tutorial on risks/asset-types/location/diversification and everything you ever wish to know about pension, and last but not least the 20 funds they make available to us.
Earlier quoted context omitted.
Sigh... the voting data is out there, and let's not all pretend the poor are any better off after ACA took effect. Clinton won the poor, Trump won the rich. When will you all stop with this?
My parents finally have health insurance after ACA, so yeah, they ARE better off.
On of my coworkers ended up in the hospital. She was taken on then dropped by 4 insurance companies, this was directly after she lost her military coverage.
She's 15k in debt working a job that pays $200/week.
I can toss a lot more stories back at you if you want.