Anler Posted March 9, 2021 Share Posted March 9, 2021 1 minute ago, ActionfigureJoe said: I’m smiling. Crazy stock market has been good for those Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member Highmark Posted March 9, 2021 Platinum Contributing Member Share Posted March 9, 2021 2 minutes ago, Anler said: There is no "poor management" it is theft. Ive seen this movie a bunch of times now. Bullshit. When workers can manipulate how much they are paid by saving up time and what not its poor planning. You've had to see the stories on this where a person earning like $60k ends up with a $150k per year pension. There is also poor management of the investments and underfunding because they promised too much. Lots of pension plans out there are doing just fine with proper contract setup and proper investment management. 1 Quote Link to comment Share on other sites More sharing options...
XCR1250 Posted March 9, 2021 Share Posted March 9, 2021 1 minute ago, Anler said: Also it sounds like you have an annuity and not a pension on the one that went up $45k. When I retired it had $435,000 in it. Quote Link to comment Share on other sites More sharing options...
Anler Posted March 9, 2021 Share Posted March 9, 2021 Just now, Highmark said: Bullshit. When workers can manipulate how much they are paid by saving up time and what not its poor planning. You've had to see the stories on this where a person earning like $60k ends up with a $150k per year pension. There is also poor management of the investments and underfunding because they promised too much. Lots of pension plans out there are doing just fine with proper contract setup and proper investment management. Like I said, its theft. If you want to call theft "poor management" go ahead. But somebody got that money, it didnt just poorly fizzle away Quote Link to comment Share on other sites More sharing options...
XCR1250 Posted March 9, 2021 Share Posted March 9, 2021 1 minute ago, Anler said: Crazy stock market has been good for those That Pension is 1 of the largest in the USA, I'm in that one also. They have over 100 billion in that fund, look it up. Quote Link to comment Share on other sites More sharing options...
Anler Posted March 9, 2021 Share Posted March 9, 2021 1 minute ago, XCR1250 said: When I retired it had $435,000 in it. Sounds like an annuity. Our pension is structured where you get a certain amount for years of service or credits. 1 Quote Link to comment Share on other sites More sharing options...
ActionfigureJoe Posted March 9, 2021 Share Posted March 9, 2021 Just now, XCR1250 said: That Pension is 1 of the largest in the USA, I'm in that one also. They have over 100 billion in that fund, look it up. It’s been very well managed. 1 Quote Link to comment Share on other sites More sharing options...
Anler Posted March 9, 2021 Share Posted March 9, 2021 1 minute ago, XCR1250 said: That Pension is 1 of the largest in the USA, I'm in that one also. They have over 100 billion in that fund, look it up. Which one? railroad? Quote Link to comment Share on other sites More sharing options...
racer254 Posted March 9, 2021 Share Posted March 9, 2021 2 minutes ago, Anler said: Like I said, its theft. If you want to call theft "poor management" go ahead. But somebody got that money, it didnt just poorly fizzle away Yep, it is theft, but these "thieves" sure seem to get light sentences. There are all kinds of examples. https://www.nytimes.com/2012/06/22/nyregion/6-year-sentence-for-melissa-g-king-who-stole-millions-from-sandhog-union.html Six-Year Sentence in Theft of Millions in Union Funds By Benjamin Weiser June 21, 2012 By any measure, Melissa G. King lived an extraordinary life, one that far eclipsed her position administering benefit funds for the sandhogs’ union. She spent millions of dollars on herself, hiring a personal staff, buying expensive clothes and jewelry, and running up about $5 million in equestrian-related expenses, prosecutors have said. And all of it was financed by her theft and greed, they say. They contend that she stole over $40 million from the plans she ran for the union, Local 147, which represents the construction workers who dig the city’s giant water and train tunnels. Ms. King, 61, who pleaded guilty last year to embezzlement and filing false income tax returns, was sentenced Thursday to six years in prison. She has admitted only to stealing $7 million. The effect on the members of the union has been severe: Several union members who said they had been victimized by Ms. King’s scheme spoke at her sentencing in Federal District Court in Manhattan, describing the devastating impact that the fraud has had on their lives. Quote Link to comment Share on other sites More sharing options...
racer254 Posted March 9, 2021 Share Posted March 9, 2021 (edited) dp Edited March 9, 2021 by racer254 Quote Link to comment Share on other sites More sharing options...
Zambroski Posted March 9, 2021 Share Posted March 9, 2021 1 hour ago, Snake said: RON PAUL! To be God's honest truthful with you Bhen, for the first time in my life I do not advocate for young men or women to go into the military. I don't necessarily disagree but when two FS'ers that know nothing about the military chime in behind you, I'd like for you to unpack this a bit. Quote Link to comment Share on other sites More sharing options...
Anler Posted March 9, 2021 Share Posted March 9, 2021 Just now, racer254 said: Yep, it is theft, but these "thieves" sure seem to get light sentences. There are all kinds of examples. https://www.nytimes.com/2012/06/22/nyregion/6-year-sentence-for-melissa-g-king-who-stole-millions-from-sandhog-union.html Six-Year Sentence in Theft of Millions in Union Funds By Benjamin Weiser June 21, 2012 By any measure, Melissa G. King lived an extraordinary life, one that far eclipsed her position administering benefit funds for the sandhogs’ union. She spent millions of dollars on herself, hiring a personal staff, buying expensive clothes and jewelry, and running up about $5 million in equestrian-related expenses, prosecutors have said. And all of it was financed by her theft and greed, they say. They contend that she stole over $40 million from the plans she ran for the union, Local 147, which represents the construction workers who dig the city’s giant water and train tunnels. Ms. King, 61, who pleaded guilty last year to embezzlement and filing false income tax returns, was sentenced Thursday to six years in prison. She has admitted only to stealing $7 million. The effect on the members of the union has been severe: Several union members who said they had been victimized by Ms. King’s scheme spoke at her sentencing in Federal District Court in Manhattan, describing the devastating impact that the fraud has had on their lives. Its the best crime to commit. I know guys that stole millions, did light sentences and still had the money when they got out. Quote Link to comment Share on other sites More sharing options...
Anler Posted March 9, 2021 Share Posted March 9, 2021 Just now, Zambroski said: I don't necessarily disagree but when two FS'ers that know nothing about the military chime in behind you, I'd like for you to unpack this a bit. Like how to salute and how to be told when to take a shit? Youre right. But I do know what the purpose of the military is and its not to secure resources for foreign govts and corporations. Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member Highmark Posted March 9, 2021 Platinum Contributing Member Share Posted March 9, 2021 10 minutes ago, Anler said: Like I said, its theft. If you want to call theft "poor management" go ahead. But somebody got that money, it didnt just poorly fizzle away If invested poorly that can be exactly what happened to it. Quote Link to comment Share on other sites More sharing options...
ActionfigureJoe Posted March 9, 2021 Share Posted March 9, 2021 1 minute ago, Anler said: Like how to salute and how to be told when to take a shit? Youre right. But I do know what the purpose of the military is and its not to secure resources for foreign govts and corporations. Fuckng ownage right there Quote Link to comment Share on other sites More sharing options...
racer254 Posted March 9, 2021 Share Posted March 9, 2021 (edited) 7 minutes ago, Anler said: Its the best crime to commit. I know guys that stole millions, did light sentences and still had the money when they got out. I am sure they are some real "stand up" guys. Probably proud of what they did. Hope some of the people they stole from have some time with them. Edited March 9, 2021 by racer254 Quote Link to comment Share on other sites More sharing options...
Zambroski Posted March 9, 2021 Share Posted March 9, 2021 6 minutes ago, ActionfigureJoe said: Fuckng ownage right there #3 Quote Link to comment Share on other sites More sharing options...
Angry ginger Posted March 9, 2021 Share Posted March 9, 2021 1 hour ago, f7ben said: I’m fine with keeping pensions afloat. Take the entire military budget and use it for retirements of all kinds take 25% off the top of the MIC and use it for other things. PBGC ends up owning these pensions if they fail so one way or another it falls on the government. it's why they had to make sure chrysler and gm survived Quote Link to comment Share on other sites More sharing options...
Anler Posted March 9, 2021 Share Posted March 9, 2021 18 minutes ago, racer254 said: I am sure they are some real "stand up" guys. Probably proud of what they did. Hope some of the people they stole from have some time with them. There are always people who are going to steal if given the opportunity. Ive seen it happen at church, school, work, you name it. It is irresistible to some Quote Link to comment Share on other sites More sharing options...
racer254 Posted March 9, 2021 Share Posted March 9, 2021 2 minutes ago, Anler said: There are always people who are going to steal if given the opportunity. Ive seen it happen at church, school, work, you name it. It is irresistible to some Well, when the punishment doesn't fit the crime, that will happen. Quote Link to comment Share on other sites More sharing options...
Snake Posted March 9, 2021 Author Share Posted March 9, 2021 35 minutes ago, Zambroski said: I don't necessarily disagree but when two FS'ers that know nothing about the military chime in behind you, I'd like for you to unpack this a bit. Wanna be reliant on one of these guys in a firefight? Quote Link to comment Share on other sites More sharing options...
ArcticCrusher Posted March 9, 2021 Share Posted March 9, 2021 48 minutes ago, Highmark said: If invested poorly that can be exactly what happened to it. That's more likely the cause. Many pensions today need to achieve 10% annual gains just to keep up with the pension promises and that will force them into riskier investments. Quote Link to comment Share on other sites More sharing options...
Zambroski Posted March 9, 2021 Share Posted March 9, 2021 23 minutes ago, Snake said: Wanna be reliant on one of these guys in a firefight? LOL...Now I get your statement. Yeah.....no. Quote Link to comment Share on other sites More sharing options...
Snake Posted March 9, 2021 Author Share Posted March 9, 2021 41 minutes ago, Zambroski said: LOL...Now I get your statement. Yeah.....no. Had a kid get up on the range when he was done shooting and casually turn around... weapon pointed at the tower. (Not intentionally... just a dumb ass private) I made an example out of that little bastard I bet the whole company is still talking about it. That would have me brought up on charges and sharing a flat in Moscow with Snowden today.... 1 Quote Link to comment Share on other sites More sharing options...
ActionfigureJoe Posted March 9, 2021 Share Posted March 9, 2021 2 hours ago, Snake said: Wanna be reliant on one of these guys in a firefight? You’ve been in as many firefights as everyone else here. Quote Link to comment Share on other sites More sharing options...
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