Just like clockwork, that looting of pension plans is now about to commence. “Congress could soon allow the benefits of current retirees to be cut as part of an agreement to address the fiscal distress confronting some of the nation’s 1,400 multi-employer pension plans,” writes Michael Fletcher of the Washington Post.  The Post continues:
“This proposal would devastate retirees and their surviving spouses,” said Karen Friedman, executive vice president of the Pension Rights Center, a nonprofit group. “The proposal would also torpedo basic protections of the federal private pension law … that states that once benefits are earned, they can’t be cut back.”
All the pension benefits that have been promised government retirees, in other words, are about to be stolen back from retirees.
This is precisely what I’ve long warned Natural News readers was coming. And this is merely the very beginning of the true destruction of the financial collapse headed our way. When the next market crash arrives, billions of dollars in retirement funds will be destroyed virtually overnight, and pension funds nationwide will be wiped out.
FK – I’ve never understood why anyone would depend solely on a ‘pension’ unless they were just poor and had no other choice. Usually there is some other choice, like demanding your employer pay you a fair share of their profits. But that might require thought, action and responsibility, the three things the average sheeple avoids at all costs.