Relevant:
- Here Come A Lot Of Angry Teamsters: One Of America's Largest Pension Funds Demands A Taxpayer Bailout
- "This Is Going To Be A National Crisis" - One Of The Largest U.S. Pension Funds Set To Cut Retiree Benefits
- 400,000 Americans In Jeopardy As Giant Pension Fund Plans 50% Benefit Cuts
- U.S. treasury raids federal employee pension funds to cover debts
- Congress quietly formed a committee to bail out 200 pension funds
2016-05-08 — zerohedge.com
So we're now back to where we started. The Central States Pension Fund will by its own estimates be insolvent within ten years, and the government safety net, the Pension Benefit Guaranty Corp cannot be counted on to pick up the benefits because it too is well on its way to insolvency.
If the Treasury won't allow any pension cuts, and the government created safety net won't be there to keep the benefits flowing, how will the cash continue to flow to members? With the precedent now set by the Treasury that no cuts will be allowed, the answer will likely come in the form of a massive bailout.
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