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Insured via Pension Benefit Guaranty Corporation, yes. Not quite a "guarantee" of jinormous returns but a certainly a floor. That's a great link. Thanks! Worst
by tosseraccount 11y ago
Insured via Pension Benefit Guaranty Corporation, yes.
Not quite a "guarantee" of jinormous returns but a certainly a floor.
That's a great link. Thanks!
Worst case in history was break even after 22 years.
Retirement investing should start with a 50 year horizon.
- lotsofpulp 11y agoThe PBGC is a joke, ask the pension recipients in this article how it's working out: http://www.nytimes.com/2015/06/18/business/dealbook/kenneth-feinberg-to-oversee-cuts-in-multiemployer-pension-plans.html http://www.nytimes.com/2015/06/18/business/dealbook/kenneth-... Break even does not work for pension funds, they have thousands of people to pay, and as mentioned before, these are benefits sold as being GUARANTEED, as DEFERRED compensation. If these benefits were sold as just another 401k from the beginning, there would not be a problem with riding the market. They were sold as being risk free, written into law as being guaranteed, and therefore do not lend themselves to risk (which, as I said before, is crazy because there is always risk in this world, especially the further you go into the future).
- tosseraccount 11y agoTeamster Pension = Mafia skimming. What do you expect?
- hga 11y agoIndeed; by the time I came of political age in the early '70s, Mafia and insider skimming of Teamster pension funds was notorious, and no doubt one of the reasons the PBGC was established in 1974. People weren't even all that surprised by Hoffa disappearing into thin air/concrete in 1975.