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The Great Retirement Con

Authored by Adam Taggart via PeakProsperity.com, Frankly put: retirement is now a myth for the majority…   The Origins Of The Retirement Plan Back during the Revolutionary War, the Continental Congress promised a monthly lifetime income to soldiers who fought and survived the conflict. This guaranteed income stream, called a "pension", was again offered to […]


Pension Ponzi Bailout: Democrats Sponsor US Treasury Bailout Scheme

Authored by Mike Shedlock via www.themaven.net/mishtalk, Most defined benefit pension plans are nothing but Ponzi schemes. Plans are now unraveling because of demographics. An increasing number of retirees, needing untenable returns, are supported by fewer and fewer people putting money in the system. Democrats sponsored a bailout scheme. Will it pass? Pension and Investments reports […]


Will Americans Die Young Enough To Save Pension Plans?

Authored by Doug French via The Mises Institute, “Pension fund problems worsen in 43 states” says the Bloomberg headline. Laurie Meisler writes, New Jersey, Kentucky and Illinois continue to lose ground and now have only about one third of the money they need to pay retirement benefits. And three states had double-digit declines in their pension funding […]


Kentucky Teachers Blast Pension Reform Plan; Warn That 401(k) Plans Will “Dismantle Public Education”

Graves County Superintendent Kim Dublin in Kentucky is apparently concerned that forcing her teachers to accept the same retirement plans offered to almost every private sector employee in the country would literally “dismantle public education” as we know it. Speaking to a local NBC affiliate in Kentucky, Dublin told reporters that she relies on the […]


“It’s Not Sustainable” – Sacramento Lashes Out At Calpers After Raising Pension Payments

In the latest sign that America’s looming pension crisis is inching closer to an all-our collapse that will inevitably end in a series of bailouts – or worse, the failure to pay out retiree’s coveted benefits – a handful of California cities are lashing out at CALPers after being forced to hike pension contributions to […]


Kentucky Teachers ‘Outraged’ At Thought Of Accepting Same Retirement Plans As Private Sector Workers

Last week we noted that, after months of planning and cogitating over how to address the failing public pension systems in their state which are somewhere between $40 and $80 billion under water, Kentucky’s Governor Matt Bevin and the leaders of the General Assembly’s Republican majorities released their highly-anticipated ‘plan’ which turned out to be […]


Kentucky Republicans Cave On Pension Reform; Stick It To Taxpayers With “Kick The Can” Approach Instead

After months of planning and cogitating over how to address the failing public pension systems in their state, which are somewhere between $40 and $80 billion under water, Governor Matt Bevin and the leaders of the General Assembly’s Republican majorities released their plan earlier today and it appears to be nothing more than the same […]


Massive PBGC Rate Hikes Force Corporate Debt Binge As Companies Try To Pay Down Pensions

As if defined benefit pensions funds weren’t fun enough for corporate shareholders, the Pension Benefit Guarantee Corporation (PBGC), the federal entity that backstops pension obligations when companies default, has enacted massive increases in insurance premiums for operating such plans over the past 5 years.  Ironically, the premiums started to skyrocket during Obama’s second term with […]