Transfer of Pension Obligation being Challenged

[Chuckanut]

I still think people should read the book "Retirement Heist" before being so certain they know what is happening to private pensions. It's not always as simple as it seems.

[Texas Proud]

Quote:

Originally Posted by pb4uski WADR, I think that GM employees and retirees should be thankful for what they have. The retirees and employees of just about any other large corporation that went through bankruptcy would probably be in a much poorer position than GM retirees and employees ended up at. Were it not for unprecedented intervention by the federal government they would have much less or possibly nothing. Just saying...

+1 on this... I think that the gvmt gave the unions a lot more than they would have received in a normal BK...

It is not like the old GM is in existence... it is dead.... the company all these people worked at is dead... a new company took over the assets and name and started over...

[SumDay]

This was in CFO Magazine earlier this month:

derisking defined-benefit pension plans

Quote:

These tactics join more-traditional approaches, such as freezing and closing pension plans. Taken together, they constitute a sea change in pension-plan treatment. Just in time, too. “Since the financial crisis reared, there has been this stark realization by large plan sponsors that they have taken on a huge amount of equity risk,” says Evan Inglis, principal and chief actuary at The Vanguard Group. “They have these gigantic pools of assets now creating risks for the shareholders investing in them — risks they are not in business to manage, and risks that shareholders don’t want them to manage.”

[eytonxav]

Quote:

Originally Posted by SumDay This was in CFO Magazine earlier this month: derisking defined-benefit pension plans

While I can understand the need for pension reforms, I cannot bring myself to accept the double standard when it comes to executive compensation and benefits vs everyone else. The concept of lead by example is defunct.