4 ms·
> With a pension, you own a promise from the employer to pay you a fixed amount. How it does that is (theoretically) none of your concern. I'm mostly in the da
by deogeo 8y ago
> With a pension, you own a promise from the employer to pay you a fixed amount. How it does that is (theoretically) none of your concern.
I'm mostly in the dark about the US pension system, so forgive me if the question is a silly one: How is this 'promise' not a legally binding debt, to be repaid as much as possible by the selling of assets during bankruptcy?
- closeparen 8y agoThey are. But in these cases, substantial repayment is not possible: a) The entity never had enough assets to begin with (public pensions). b) The assets have lost their value (business failure). c) The assets were directed elsewhere by management (private equity takeover).