MikeNY
11-26-2008, 08:33 AM
http://articles.moneycentral.msn.com/Investing/CompanyFocus/up-next-a-huge-pension-bailout.aspx?page=1
Employer Pension Plans are again underfunded and many might end up in the Government's Pension Benefit Guaranty Corp as they fail, ie the US tax Payer will pay. The article quotes "While workers covered by defined-benefit plans who retire in their mid-60s usually get pensions in the $50,000-a-year range, it's another matter for the top execs at these companies. They're covered by supplemental executive retirement plans, or SERPs, which pay out as much as 400 times what workers can get."
The Executive's of failed businesses should get exactly the same pension as the workers! A Bigger question is why should Taxpayers pay for pensions for workers and executives in these failed companies? Why should your aunt mable that works at Walmart and will collect Social Security and have her tiny 401K; pay for benifits for these workers and executives? Am I crazy or is this just insane?
Employer Pension Plans are again underfunded and many might end up in the Government's Pension Benefit Guaranty Corp as they fail, ie the US tax Payer will pay. The article quotes "While workers covered by defined-benefit plans who retire in their mid-60s usually get pensions in the $50,000-a-year range, it's another matter for the top execs at these companies. They're covered by supplemental executive retirement plans, or SERPs, which pay out as much as 400 times what workers can get."
The Executive's of failed businesses should get exactly the same pension as the workers! A Bigger question is why should Taxpayers pay for pensions for workers and executives in these failed companies? Why should your aunt mable that works at Walmart and will collect Social Security and have her tiny 401K; pay for benifits for these workers and executives? Am I crazy or is this just insane?