Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : The Obama - Clinton Disaster -- Ignore unavailable to you. Want to Upgrade?

To: Wayners who wrote (31255)	6/7/2010 8:34:21 AM
From: DuckTapeSunroof	Respond to of 103300

Re: "I've never heard of this" Neither had I! (But apparently Congress opened a loophole in 1980 and, increasingly, in recent years more and more hospitals and other organizations with "religious" connections or missions have been deliberately walking through that loophole so they can get away with under-funding their Pension plans.) By doing that they also stop paying dues into the federal pension guaranty agency and so, when the companies walk away from their pension plans, declare that they will no longer pay benefits... there is NO INSURANCE to pick up the pieces. Folks who might have worked for a Church for their whole lives, and paid into the pension plan there for years, can be perfectly legally cheated out of all of the benefits that had been promised them. RE: "...but as I always say, read the contract" In this case the 'contract' means NOTHING because the companies are TEARING UP the contracts and walking AWAY from them. (Many of the executives, no doubt, have already made out quite well for many years with big take-homes and special perks and bennies....)