Research has long shown (click here) that traditional defined benefit (DB) pension plans make sense for most Americans. This is because traditional pension plans offer middle-class Americans secure and adequate retirement benefits, which help to ensure that they remain in the middle-class into retirement. But DB pension plans are not just good for employees—they also make sense for employers, as well as the broader community...
Union officials are used to hearing bad news and seeking ways to make fiscal hurdles work, especially with their members in mind. But, the Defined Benefit Pension Plans were nothing but pure genius when unions looked to the future of their members.
Please remember what occurred in the eight years of Bush. The cash reserves were drained. Currently, Chris Christie is seeking control over $880,000 of cash reserves all over that state. That is now the GOP sees these monies. They are LIQUID ASSETS, not an investment in the future. The Middle Class has a unique perspective on the future, don't allow that to slip away.
This 'pension thing' is a GOP fashionable 'mind speak.' It has absolutely nothing to do with sound economics.
For employers, DB pension plans are a fiscally responsible and cost-effective way of providing broad-based retirement benefits for workers. Also, especially in the public sector, DB pensions help human resource managers to recruit and retain the highly educated and skilled workforce that they require. Finally, DB pensions have a broad economic footprint, supporting jobs and economic output in local economies throughout the United States, and providing much needed patient capital to domestic equities markets.
Pensions invest to grow their stability for their members. They are among the most stabilizing monies in the financial markets. Why do you think Goldman is after European pension management? Just a nice thing to do?
GLOBAL - The €246bn civil service scheme ABP (click here) has sued Goldman Sachs Group over the sale of mortgage-backed securities.
ABP, one of the largest pension schemes in the world, claims the collateralised debt obligations (CDOs) Goldman Sachs sold it were riskier than the investment bank had suggested.
According to the complaint filed in the New York State Supreme Court, presented by law firm Grant & Eisenhofer, "Goldman [Sachs] knew the loans it acquired from the third-party originators and packaged and sold to ABP were destined to fail"....
The entire COMPLAINT about pension funds by the GOP is nonsense. They are important stabilizing monies in the Financial Markets. They can't assume a lot of risk and who would think housing investment would ever do anything except increase in value. The housing bubble was never anticipated to be what it was. It was real estate. Since when is real estate, the basis of the American Dream, ever risky.
That's why this entire mess the GOP has created in propaganda about pensions is so laughable. Pensions are a rock solid method of attracting employees and keeping them, especially in the public sector. Pensions were always considered the best bet for this purpose because they benefited the economy in ANY short term prediction and always provided an economic base in the future no different than Social Security benefits.
Come on, get over this political pressure from the rightwing, it is nothing but extremism, lies and propaganda. There was nothing wrong with America the way it was. There was a whole lot wrong in the focus of Wall Street. They wanted the liquid equity in the world and now they want to mine the moon. This is craziness. Better said it is greed that was once inconceivable.
These monies don't belong to Wall Street, they belong to the people and the unions need to succeed to improve the financial circumstances of the working poor so the country has a chance to actually recover it's Middle Class.
Red States are welfare states. In order for the Red States to be able to have self-supporting budgets they need the unions to succeed regardless of the ranting of the politicians. What states are most successful and 'donor states' to the federal budget, those with or without unions?
Far to many see pensions as counter intuitive for states to be creating pension funds, but, it is solidly good economics and the nation needs to appreciate that.
Union officials are used to hearing bad news and seeking ways to make fiscal hurdles work, especially with their members in mind. But, the Defined Benefit Pension Plans were nothing but pure genius when unions looked to the future of their members.
Please remember what occurred in the eight years of Bush. The cash reserves were drained. Currently, Chris Christie is seeking control over $880,000 of cash reserves all over that state. That is now the GOP sees these monies. They are LIQUID ASSETS, not an investment in the future. The Middle Class has a unique perspective on the future, don't allow that to slip away.
This 'pension thing' is a GOP fashionable 'mind speak.' It has absolutely nothing to do with sound economics.
For employers, DB pension plans are a fiscally responsible and cost-effective way of providing broad-based retirement benefits for workers. Also, especially in the public sector, DB pensions help human resource managers to recruit and retain the highly educated and skilled workforce that they require. Finally, DB pensions have a broad economic footprint, supporting jobs and economic output in local economies throughout the United States, and providing much needed patient capital to domestic equities markets.
Pensions invest to grow their stability for their members. They are among the most stabilizing monies in the financial markets. Why do you think Goldman is after European pension management? Just a nice thing to do?
GLOBAL - The €246bn civil service scheme ABP (click here) has sued Goldman Sachs Group over the sale of mortgage-backed securities.
ABP, one of the largest pension schemes in the world, claims the collateralised debt obligations (CDOs) Goldman Sachs sold it were riskier than the investment bank had suggested.
According to the complaint filed in the New York State Supreme Court, presented by law firm Grant & Eisenhofer, "Goldman [Sachs] knew the loans it acquired from the third-party originators and packaged and sold to ABP were destined to fail"....
The entire COMPLAINT about pension funds by the GOP is nonsense. They are important stabilizing monies in the Financial Markets. They can't assume a lot of risk and who would think housing investment would ever do anything except increase in value. The housing bubble was never anticipated to be what it was. It was real estate. Since when is real estate, the basis of the American Dream, ever risky.
That's why this entire mess the GOP has created in propaganda about pensions is so laughable. Pensions are a rock solid method of attracting employees and keeping them, especially in the public sector. Pensions were always considered the best bet for this purpose because they benefited the economy in ANY short term prediction and always provided an economic base in the future no different than Social Security benefits.
Come on, get over this political pressure from the rightwing, it is nothing but extremism, lies and propaganda. There was nothing wrong with America the way it was. There was a whole lot wrong in the focus of Wall Street. They wanted the liquid equity in the world and now they want to mine the moon. This is craziness. Better said it is greed that was once inconceivable.
These monies don't belong to Wall Street, they belong to the people and the unions need to succeed to improve the financial circumstances of the working poor so the country has a chance to actually recover it's Middle Class.
Red States are welfare states. In order for the Red States to be able to have self-supporting budgets they need the unions to succeed regardless of the ranting of the politicians. What states are most successful and 'donor states' to the federal budget, those with or without unions?
Far to many see pensions as counter intuitive for states to be creating pension funds, but, it is solidly good economics and the nation needs to appreciate that.
