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Category Archives: Pension Benefit Guaranty Corporation

It Begins: Pension Bailout Bill To Be Introduced This Week

Over the past year we have provided extensive coverage of what will likely be the biggest, most politically charged, and most significant financial crisis facing the aging U.S. population: a multi-trillion pension storm, which was recently dubbed “one of the most heated battles of a lifetime” by John Mauldin. The reason, in a nutshell, why […]

Angst In America – Disappearing Pensions

Authored by John Mauldin via MauldinEconomics.com, “Companies are doing everything they can to get rid of pension plans, and they will succeed.”   – Ben Stein   “Lady Madonna, children at your feetWonder how you manage to make ends meetWho finds the money when you pay the rent?Did you think that money was heaven sent?” […]

Your Pension Will Be At The Center Of America’s Next Financial Crisis

Authored by Jeff Reeves via The Hill I’m not a fan of the “greed is good” mentality of Wall Street investment firms. But the next financial crisis that rocks America won’t be driven by bankers behaving badly. It will in fact be driven by pension funds that cannot pay out what they promised to retirees. […]

Pension Benefit Guarantee Corporation Running Out Of Cash, Millions Affected

Via Mike Shedlock of MishTalk.com, The Pension Benefit Guarantee Corporation (PBGC), an entity created to “guarantee” pensions of private corporations, is on the verge of bankruptcy. Teamsters and other unions are poised to take huge pension hits. Previously, airline employees have taken a hit.   Please consider PBGC Running Out of Cash to Cover Union Pension […]

NY Teamsters Pension Becomes First To Run Out Of Money As Expert Warns “Pension Tsunami” Is Coming

The New York Teamsters Road Carriers Local 707 Pension Fund has won the unfortunate award for “First Pension to Officially Run Out of Money.”  According to the New York Daily News, and a host of angry former truck drivers who’ve had their pension benefits slashed, the Pension Benefit Guaranty Corp. (PBGC) has officially been forced […]