Gov’t begins first step in pension confiscation & denying retirees their earned benefits


uncle-sam(Kenneth Schortgen)  One of the best open secrets in working for a public entity during one’s career is the ability to double dip on retirement and pensions plans.  For example, if someone joins the military at age 18 and stays in for 20 years, they are guaranteed apercentage of the average of their highest three yearpay period.  Then, as the ‘retiree’ would only be 38 years old, if they were hired into a civil service position, or even as a U.S. Postal worker, they would be eligible for a second pension if they retired after another 20+ years with that organization.

But in the private sector it appears now that workers will not be given the same accommodation as ahidden rider placed within the most recent budget bill by Congress will allow the government to take or confiscate up to 60% of a workers earned retirement if they fall under the parameters of a multi-employee union.

A provision included in the $1.1 trillion spending bill that passed in the final days of the last Congress creates the possibility that certain current and future retireescould have their pension payments reduced by 60% — a prospect that experts say has been virtually unheard of until now.

“I think that this kind of takes an important step back from what has always been just a bedrock principle that you can’t cut back on benefits that have already been earned,” said Gregg Dooge, an attorney at Foley & Lardner in Milwaukee who has practiced pension law for 30 years.

The provision applies only to multiemployer union pension plans — those that cover more than one company’s workers — that face a high likelihood of running out of money within the next 20 years.

Multiemployer plans were developed as part of collective bargaining agreements and typicallyapply to union workers in professions such as trucking, food retailing, construction and mining, among others. There are about 1,400 such pension plans, covering about 10 million people. – JS Online

With the Federal government’s budget deficit continuing to remain over a trillion per year, and the national debt well over $18 trillion, Congress is desperate to find more revenue to pay for mandates that take up more than half of the nation’s budget every year.  In addition to this, tax revenues since the credit crisis of 2008 have not recovered since most jobs created over the past six years have been part time, and near minimum wage, with interest due on the nation’s debt climbing with each new appropriations bill.

A few years ago, the former Speaker of the House Nancy Pelosi tried to push through a bill that would confiscate all retirement plans under the guise of ‘protecting’ the public from the risks ofWall Street and economic recessions.  But the real reason is the same one used by Congress when they looted the Social Security trust fund over the past 30 years… to spend your dedicated retirement for their own programs and crony largesse.  And as we rush towards a new financial collapse, where liquidity problems are pushing governments to pass laws making it almost illegal to hold cash, to believe that the government doesn’t want all of your money is to fail to realize that they have done these forms of confiscations many times before in our past.

http://govtslaves.info/govt-begins-first-step-in-pension-confiscati...

Views: 171

"Destroying the New World Order"

TOP CONTENT THIS WEEK

THANK YOU FOR SUPPORTING THE SITE!

mobile page

12160.info/m

12160 Administrators

 

Latest Activity

tjdavis posted a video
yesterday
Burbia replied to Burbia's discussion Trump Receives Marching Orders
yesterday
Less Prone favorited Burbia's video
yesterday
Less Prone replied to Burbia's discussion Trump Receives Marching Orders
"Bullets can be effective in reinforcing ownership."
yesterday
Burbia posted a discussion

Trump Receives Marching Orders

Netanyahu has made 3 visits to the White house since Trump's second term as President of the United…See More
yesterday
Burbia commented on Burbia's video
Thumbnail

Ben Shapiro Just LOST HIS MIND — There's No Coming Back From This

"Omg. The Ben Shapiro voice that Luke is imitating here couldn't be any more comedic to…"
Tuesday
Burbia posted a video

Ben Shapiro Just LOST HIS MIND — There's No Coming Back From This

Get the magnesium your body needs - https://wearechange.shop/product/magnesium-glycinate/Ben Shapiro Just LOST HIS MIND — There's No Coming Back From ThisHig...
Tuesday
cheeki kea posted photos
Tuesday
Doc Vega posted blog posts
Monday
Burbia posted a video

A few reasons I don’t like jews. It’s not complicated.

These are the reasons I became antisemitic. It’s not complicated. Sure, I could go on for days, weeks, months outlining everything, but I don’t need to. This...
Monday
Doc Vega commented on Doc Vega's blog post Unusual Discoveries and Headlines
"Less Prone, Thanks Buddy! I'd like to volunteer as a historical reconstructionist! "
Sunday
Less Prone left a comment for t.me/TheIntelligenceLibrary
"Welcome to a revolutionary concept in public communication, the truth."
Sunday
pohonemas33 team is now a member of 12160 Social Network
Sunday
Less Prone favorited cheeki kea's discussion Tartaria
Sunday
tjdavis's 2 blog posts were featured
Sunday
Doc Vega's 7 blog posts were featured
Sunday
Less Prone commented on Doc Vega's blog post Unusual Discoveries and Headlines
"Some incredible pieces of history!"
Sunday
Less Prone favorited Doc Vega's blog post Unusual Discoveries and Headlines
Sunday
tjdavis posted a blog post
Sunday
Doc Vega posted a blog post

First Week of July 1947 an Inflexion Point for Humanity!

The year is 1947 and sometime around July 4th the anniversary of the birth our nation, when a…See More
Saturday

© 2025   Created by truth.   Powered by

Badges  |  Report an Issue  |  Terms of Service

content and site copyright 12160.info 2007-2019 - all rights reserved. unless otherwise noted