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Politics : Ask Michael Burke

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To: Knighty Tin who wrote (68864)	10/9/1999 12:52:00 PM
From: re3	Read Replies (2) of 132070

michael, maybe you could explain this pension fund biz to me...if the plans of xyz corp earn a great return from the mkt and the actuaries of the co calc that the $ in the fund are in excess of what's needed to pay out to the employees, does xyz get to keep the excess ? what happens if the returns are below whats needed... how did this all happen ? why are pension contributions mandatory if the workers cannot benefit from the massive growth of the stock market ? why are the funds not segregated ? btw the first co i ever worked for was a sub of a major american co...there were many employees who joined after ww2 and never worked anywhere else...while i am not privy to the details, the co tried to f these guys out of their pension...they got a lawyer and won out, but it was brutal for them... how do so many co's get away with this shit... ike

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