Originally Posted by
Mem9guy
Although it did not go to the PBGC like the South pensions did, after a cutoff point of somewhere between 17-20 years of longevity, the rest of us are at or below the PBGC limits. Mine was frozen at 10 years minus furlough time. I will get $425.00 a month. Not exactly the windfall that some seem to think that we have...
Thanks Mem,
The more I think about it, the more I kinda think all of that stuff was in the SLI. I guess maybe I just glossed over that part. Too complicated for my little brain.
Yeah, I've seen lots of people on other threads saying we shouldn't be whining because our pensions were completely replaced by the PBGC. Humus B Chitinme, what a joke! Even worse though, the PBGC acts as if they're doing us a favor.
Also, yesterday I read an article about companies that have their pension funds underfunded. Out of all the companies listed, Delta was the worst offender at 50% underfunded. So the rest of the employees will be lucky to get anything either. Pretty sad. That's exactly why pension funds should never be trusted to a company. They should always be placed in the person's own fund. If the company can't or won't afford them, then they shouldn't offer them as part of the compensation package to attract workers.
Thanks again Mem.