That imbalance left the fund paying out $3.46 in pension benefits for every $1 it received from employers. The shortfall has resulted in the fund paying out $2 billion more in benefits than it receives in employer contributions each year.
That's meaningless as pensions should be funded as the employees were working, like in the 70s and 80s.
Obviously the formulas that these funds use to dictate what should be collected and what should be paid out to retirees is out of whack. If they are gonna reduce pension payouts, they should look at increasing the pay-ins from the companies that fund them as well.
But why is Social Security in turmoil?
Agreed.
Unless your talking about raising MY SS taxes anyway.
That imbalance left the fund paying out $3.46 in pension benefits for every $1 it received from employers. The shortfall has resulted in the fund paying out $2 billion more in benefits than it receives in employer contributions each year.
That's meaningless as pensions should be funded as the employees were working, like in the 70s and 80s.
The problem with that is pensions typically promise unsustainable returns that cannot be consistently achieved.
That imbalance left the fund paying out $3.46 in pension benefits for every $1 it received from employers. The shortfall has resulted in the fund paying out $2 billion more in benefits than it receives in employer contributions each year.
That's meaningless as pensions should be funded as the employees were working, like in the 70s and 80s.
The problem with that is pensions typically promise unsustainable returns that cannot be consistently achieved management doesn't properly fund pensions and instead relies on growth of the company for sustainability while using pension funds for other shit.
The problem with that is pensions typically promise unsustainable returns that cannot be consistently achieved the Government doesn't properly fund pensions and instead relies on growth of the economy for sustainability while using pension funds for other shit.
That imbalance left the fund paying out $3.46 in pension benefits for every $1 it received from employers. The shortfall has resulted in the fund paying out $2 billion more in benefits than it receives in employer contributions each year.
That's meaningless as pensions should be funded as the employees were working, like in the 70s and 80s.
The problem with that is pensions typically promise unsustainable returns that cannot be consistently achieved management doesn't properly fund pensions and instead relies on growth of the company for sustainability while using pension funds for other shit.
The problem with that is pensions typically promise unsustainable returns that cannot be consistently achieved the Government doesn't properly fund pensions and instead relies on growth of the economy for sustainability while using pension funds for other shit.
but why is Social Security in turmoil?
For the exact same reason. And the fact politicians refuse to do anything about it.
SS is only in turmoil because Congress hasn't done what they need to do to solidify it. It's the single best program that this country has ever implemented. Fix it.
SS is only in turmoil because Congress hasn't done what they need to do to solidify it. It's the single best program that this country has ever implemented. Fix it.
I'm hearing you can set aside some of your paycheck each week in an interest-bearing account. It's called savings. Cut out the middle man that spent all the money and you'd be fine. Perpetuities are going away because people live way longer nowadays and you have no way to measure what it's going to cost in the future. People should be responsible for their own savings. Period.
The genius of social security, Medicaid, medicare, pensions, etc is now their curse. They are in effect a Ponzi scheme. In the beginning many pay in, and there's money for everyone. At the end, there are more taking out than people to put in.
When s.s. was started there was 10 paying in for every 1 receiving money, and you collected at 62 when the avg. life expectancy was essentially that age. Today it is 2 paying for every one collecting and the avg. person lives to mid 80's.
SS is only in turmoil because Congress hasn't done what they need to do to solidify it. It's the single best program that this country has ever implemented. Fix it.
I'm hearing you can set aside some of your paycheck each week in an interest-bearing account. It's called savings. Cut out the middle man that spent all the money and you'd be fine. Perpetuities are going away because people live way longer nowadays and you have no way to measure what it's going to cost in the future. People should be responsible for their own savings. Period.
SS is only in turmoil because Congress hasn't done what they need to do to solidify it. It's the single best program that this country has ever implemented. Fix it.
I'm hearing you can set aside some of your paycheck each week in an interest-bearing account. It's called savings. Cut out the middle man that spent all the money and you'd be fine. Perpetuities are going away because people live way longer nowadays and you have no way to measure what it's going to cost in the future. People should be responsible for their own savings. Period.
First, let me introduce you to negative or near negative rates. Second, when the average American is spending like 110% of their income and carrying $15k credit card statements, thinking that people are able to save for retirement on their own is d2d fucking stupid.
SS is only in turmoil because Congress hasn't done what they need to do to solidify it. It's the single best program that this country has ever implemented. Fix it.
I'm hearing you can set aside some of your paycheck each week in an interest-bearing account. It's called savings. Cut out the middle man that spent all the money and you'd be fine. Perpetuities are going away because people live way longer nowadays and you have no way to measure what it's going to cost in the future. People should be responsible for their own savings. Period.
First, let me introduce you to negative or near negative rates. Second, when the average American is spending like 110% of their income and carrying $15k credit card statements, thinking that people are able to save for retirement on their own is d2d fucking stupid.
Get mugged by reality and then get back to me.
As I was just saying, Doogs hate personal responsibility.
SS is only in turmoil because Congress hasn't done what they need to do to solidify it. It's the single best program that this country has ever implemented. Fix it.
I'm hearing you can set aside some of your paycheck each week in an interest-bearing account. It's called savings. Cut out the middle man that spent all the money and you'd be fine. Perpetuities are going away because people live way longer nowadays and you have no way to measure what it's going to cost in the future. People should be responsible for their own savings. Period.
First, let me introduce you to negative or near negative rates. Second, when the average American is spending like 110% of their income and carrying $15k credit card statements, thinking that people are able to save for retirement on their own is d2d fucking stupid.
Get mugged by reality and then get back to me.
As I was just saying, Doogs hate personal responsibility.
Get your nose out of Hayek's taint and join the real world.
So we'll tax their savings out of them for their own good! Not only are there serious problems with forecasting the amount you need to pay out years down the line, there's always the chance that an individual can do much better investing their own savings. It's another example of our government thinking they know best and robbing individuals of the right to their own earnings. I'm not responsible for the poor savings habits of my fellow Americans.
So we'll tax their savings out of them for their own good! Not only are there serious problems with forecasting the amount you need to pay out years down the line, there's always the chance that an individual can do much better investing their own savings. It's another example of our government thinking they know best and robbing individuals of the right to their own earnings. I'm not responsible for the poor savings habits of my fellow Americans.
The good news is that the government is excellent at saving money.
T bills rock solid as usual, hedgies up and down like a fucking hurricane. Gee, I wonder why people might not want the "free market" in charge of their livelihood.
Comments
Unless your talking about raising MY SS taxes anyway.
but why is Social Security in turmoil?
When s.s. was started there was 10 paying in for every 1 receiving money, and you collected at 62 when the avg. life expectancy was essentially that age. Today it is 2 paying for every one collecting and the avg. person lives to mid 80's.
Get mugged by reality and then get back to me.
Oh.