Uncle Ben
Well-Known Member
The 2008 crisis conveniently resulted in these large corporations not having to pay a lot of money to retirees.
They screwed them, in other words.
Don't know what you're talking about. People screw themselves in general. I'm on a pension I contributed to and had the benefit of the corporation paying in 2-1 what I did. IOW, if I paid into the kitty $100 every payday, the corp matched it $200. It went into a group retirement fund. I also accrued wealth after retiring after 26 years of my account compounding thanks to the excellent investor admin doing a great job. Back in the 70's and 80's I was getting as much as 11% interest on my balance which accrued (increased) annually. That shit adds up, BIG time. Folks don't know the meaning of Deferred Gratification. They're just a bunch of undisciplined selfish brats.
Can it be proven? I doubt it. But it's far too convienient that just as they began to retire something came along that wipped out all the gains boomers have earned on their investments.
I know no one who has been screwed like that. If anything they pulled their money out of the retirement kitty early and screwed themselves or did something else that was stupid and irresponsible. There's an exception to everything (Ponzi scheme) but what you admitted you can't prove is a feeling not a fact.