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Author Topic: another thing about SEARS bankruptcy....their pension program is outta whack  (Read 574 times)

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Offline hmgROCK

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i wrote a thread a while back.
how a lot of companies don't have the money $$$ to paid pension to their retireee
not just SEARS
but like others companies out there that still offer a pension plan

i know we got a lot of government worker in here
thinking they do 30 years and just retire and live in the government pension
LOL
the US government is deeply in debt


my solution is to not just count on the pension alone
but make sure you are saving, investing, 401k, etc....
along with pension if it still there

and I AM BEING A REASONABLE PERSON



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Offline hmgROCK

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my pension warning thread

http://www.pebhmong.com/forum/index.php/topic,393817.msg4920601.html#msg4920601

pension,......just like social security
"might" not be there


what you need to be doing on the side
is saving, 401k, investing, etc....




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Offline Reporter

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Thanks, prof.



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The snooping eye sees everything."--Ono No Komachi, Japanese Poetess (emphasis)

Offline hmgROCK

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keep laughing and ganging up on me with your PH friend
you going learn one day

 O0 O0 O0


https://www.forbes.com/sites/ebauer/2018/10/15/sears-bankruptcy-the-pbgcs-debt-and-your-retirement/#5c1568652fb3


If Sears, once the nation’s largest retailer, declares bankruptcy, it could cause one of the biggest pension defaults in U.S. history, but the government would step in to keep checks coming to more than 90,000 retirees.

    The company’s long-term pension obligations, which have been underfunded by more than $1 billion for years, would be covered by the federal Pension Benefit Guaranty Corp., which has footed the bill for nearly 5,000 failed employer pension plans since its founding in 1974.



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