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Thread: Union Demands send Firm and jobs packing from California

  1. #341
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    Re: Union Demands send Firm and jobs packing from California

    Quote Originally Posted by Neomalthusian View Post
    Nonunion workers get those things.

    Well, with the exception of defined-benefit pensions, which younger/newer union workers by and large do not get either, but that's because defined benefit pensions are utter financial failures.
    HA HA HA HA HA HHA HA HA HA ...........GOOD ONE!

    Tell me, what federal law says that your 401k payments in retirement cant be reduced? (like Pensions have)

    Where is the PBGC for your 401k? LMAO!!!!
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  2. #342
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    Union Demands send Firm and jobs packing from California

    Quote Originally Posted by 274ina View Post
    HA HA HA HA HA HHA HA HA HA ...........GOOD ONE!

    Tell me, what federal law says that your 401k payments in retirement cant be reduced? (like Pensions have)

    Where is the PBGC for your 401k? LMAO!!!!
    What do you mean "401(k) payments?"

    The fact that defined contribution plans require no PBGC-like entity is one of their greatest strengths. It's inherently flawed and demonstrably failed policy to guarantee a benefit that disregards the value of the underlying plan assets used to pay that benefit. It's an attempt to erase the beneficiary's risk from investments by simply guaranteeing that it will provide a specified return even though that can't actually be guaranteed. And so what happens is the benefit is guaranteed by creating new liabilities and imposing them on non-beneficiaries.

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