Why more companies want pensions off their books

Verizon has done it. General Motors has done it. And so have Ford and, recently, ketchup kingpin Heinz.

These brand-name companies have all moved part of their pension obligations off their books and into annuities run by insurance companies.

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US Airways pilots want pension promise kept

Later this month, the Supreme Court will decide whether to hear a case about a promise made and a promise broken. 

The financial future of nearly two thousand retirees hangs on this decision

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OPPOSE THE RYAN HOUSE BUDGET

Well, despite protests from nearly every advocacy organization in the country, my Representative, Dan Benishek, and Jess’ Representative, Mike Rogers, HAVE AGAIN joined most of the other Republicans in the House and blindly voted for the Ryan budget bill.  They probably just view this as business as usual.  While I understand the concern for fiscal responsibility, I see it as an affront to voters and especially seniors.

Let me just mention one senior issue – Medicare.  Republicans correctly agreed to protect the current benefits of seniors over 55. …

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UNEMPLOYED SENIORS LOSE BENEFITS AND CAN ONLY FIND LOW SKILL JOBS

This study deserves discussion.  North Carolina found that when unemployment benefits were eliminated, new higher-skill jobs were not filled and many seniors took lower skill jobs if they could find them.  So seniors in their 50s were forced into jobs that will permanently deplete their savings just as they approach the years where they need to save more for retirement.

Alternatives to low skill jobs have to be developed for older laid off workers.  Companies should be encouraged to rehire senior workers, even if government subsidies …

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Congress Must Not Use Retirees as Pawns in Budget Scheme

A reported effort in Congress to finance a face-saving change to Obamacare by weakening pension funding standards threatens to lead Americans of all ages down a dangerous path.

read more: Click here to read the NRLN’s entire statement.

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