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Thread: Central states Pension Fund

  1. #51
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    Default Re: Central states Pension Fund

    Spending Bill Includes Billions for Israel | CBN News

    Congress passed a funding bill Thursday that will give Israel billions of dollars and advance more pro-Israel efforts in the U.S.
    The bill provides $3.1 billion plus an additional $75 million in overall security assistance to Israel. It includes funding for programs like Israel's missile defense system and the development of Israeli technology, energy and water..............................Pro-Israel activists are celebrating the bill ...............................................Man y hope these provisions are the first of many actions.

    Plenty of money for another nation with dual citizens donating to politicians......Screw you pensioners...that's Israel's money...how dare you want anything?
    The politicians serve the hand that feeds them....and other nations people should not be allowed to have a hand which feeds them imo.
    x475 likes this.

  2. #52
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    Default Re: Central states Pension Fund

    https://www.forbes.com/sites/ebauer/...Q#7d1ac0be6c10

    Understanding The Central States Pension Plan's Tale Of Woe

    First, a brief item of news: the Joint Committee which was to have reported on its recommendations with respect to the troubles of multi-employer pensions, has instead reported that they will miss the deadline, but are continuing to work on solutions. No one is surprised by this announcement, as there is no solution to this crisis that won't cause a lot of pain -- the only question is how that pain is to be shared among employers, workers, retirees, and the federal government.

    While we continue to wait for the outcome of their deliberations, here's a follow-up to last week's article on the topic. Readers will recall that I compared Dutch legislation, with its strict demands that plans be overfunded, to to American plans which, until comparatively recently were effectively prevented from building up funding reserves to be prepared for future losses.

    There is one plan, however, whose pension plan underfunding woes dwarf all others, and whose story needs to be told separately, and that's the Central States Teamsters Plan. This plan has 400,000 participants, and is funded at either a 38% level ("accrued liability", with a higher interest rate) or 28% ("current liability" - a lower rate), according to their most recent plan filings, with a total liability of $41 billion or $56 billion, depending on the interest rate, and assets of only about $15 billion. The plan is expected to be insolvent in 2025 if no actions are taken to remedy the situation. No other plan comes close to this level of shortfall, at least in terms of the absolute level of underfunding.

 

 
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