why are employees losing their pensions?
154185
Pensions are OLD FASHIONED.\nPensions are for when people can actually afford to retire, the pension is a private fund that the COMPANY controls on your behalf... sounds like a conflict of interst thing? would you trust big corporations like Enron with your pensiion??? This more about character or the lack of it... The big corporations used pension plans for theie own greed, laws have changed and so the future for pension plans is very bleak
88727
Social Security, I pay hundreds and some pay thousands to people who didn't plan for retirement that we will never see again.  In 2018, according to the numbers, SS will be giving more out than it is taking in.  I don't know about you, but I'm bitter that I'm paying someone else and won't be paid back.  That's why I'm saving in a 401(k).  I know that money won't be there for me when it's my turn.
1154437
It really depends on your company's policy.  I asked a similar question to HR after my company was taken over.  She said the old company wouldn't do anything, but the new one might pursue.  The company might take your last paycheck to offset the dollar amount they have "lost."
733425
It depends upon the regulations of the PF.\nUsually in most of the PF there is a clause that if benefits are not claimed within a specified period (3 or 5 years) then these benefits lapse and are distributed among the remainig members of the PF. If your PF has such a clause then you would not be able to get your benefits as you have not claimed them for the last 14 years.\n\nIf your PF does not have such a clause then you would be able to get back the amount.
1139299
Look to the retirement states.  Arizona, Florida, Virginia, etc.  These folks are afraid of outliving their income hence annuities prevent this from happening, and provide more options for retired persons.  These folks also want to leave more money for the heirs as well and Annuities provide guar. growth with loss of principle.
180461
You are betting you will need it they are betting you will not. It appears the insurance company's are winning. Plus they can not lose for when they start to lose the government just allows then to raise the rates.
258903
legal restrictions on investments> law does not allow to invest anywhere... and the fact that due to poor risk management and limited investment possibilities the pension funds risk more and lose..
611575
Because before these laws were passed,workers rarely recieved breaks from their employers. They were getting injured due to being overworked. They were tired, and made alot of mistakes. It was inhumane.
243375
I think your time would be better spent teaching the current workforce how to take care of their own retirement. Teach people how to invest on their own through investment strategies designed to meet their retirement goals. Teach people that it is far better to rely on themselves than some huge corporation or the government.\n\nMy retirement strategy calls for NO pension from anybody. While I do have a pension as a work-related benefit, I do not count on it being there. If it is around when I retire in 20 years, it will be a bonus. But I will not need it because of my retirement planning.
94700
It's because they spend their whole career in this job just waiting for that one promotion that'll make them a supervisor.  And when they get passed over for it, they look at their life as totally wasted, and someof them snap;  they'll target their co-workers, supervisors, then kill themselves.\nIt's really a shame because even if they deliver mail until they retire, their pension plan is pretty good.\nIt's a weak mind that will resort to such things after a "crisis" in their lives.  They should look at all the people who DON'T have jobs, and be thankful that THEY do.
358012
Because it is easier to make a fixed income stretch.Some are leaving because our society has changed so much.It is not the same as when we grew up ,people are just sick and tired of the BS.Also other countries see it as an economic boom and are building beautiful American communities.
464331
Haven't you heard, there is a 'pension crisis', which will grow exponentially every year. Be glad for what you have got because there is only one way pensions are going and it ain't up.
896663
You should always have a separate retirement fund besides your pension plan.  Many pensions are underfunded now because companies can borrow from them.  Go start a Roth IRA somewhere.  If it were me, I'd find a mutual fund with a very low expense ratio, and one that tracks a major index, like the Dow or the S&P 500.\n\nAs to whether you can sue - I'd take your question to your state's attorney general's office.  They will have a better knowledge of the rules in your state.
828495
Because the money that is being deposited is withheld from employees pay. It is not money that belongs to the employer any longer and the IRS does not want the business doing anything to put money at risk that is not theirs.
79238
If I were you, I'd not take a whole lot of stock in a pension.  Remember, IBM just froze theirs and they are a financially sound company.  If I were you, I'd make sure I had enough money invested to make sure I could retire well - Don't believe it.
715674
Because they know you'll cover their butt.  It used to chap my hide too, but there everywhere.  Nowadays its harder to get rid of employees with all the laws and unemployment claims that employers are putting up with it.  I think eventually it'll catch up to them; you'll have a house you own, they won't...you'll have a car paid off, they won't.  You will be retired when you want to, they won't.  In the end, I want to believe the hard worker will be better off.
149213
The Fair Practices Employment Board can help you.  The laws are different in each state, and sometimes local laws.  \n\nMy husband was laid off while he was on vacation.  He came back from our trip, went to work, and found out he didn't work there anymore.\n\nWe are still trying to find out how to get the retirement benefits he earned!!