Page 801 - Pensions News Today

Snit >> it comes back to a lack of leadership on capitol hill. theyre always looking for the low hanging fruit. instead of going after people who have given 20 plus years of their service to this great nation, they should look at changing the rules for their own congressional pensions which kick in after five or six years of service and even after the member has passed away, it goes to their spouse. so theres a lot of tough decisions that they can make and it will require hard work instead of li...

We have the best mechanic, the best tooling. its all right here. >> i think the main thing is trying to keep boeing in this local area and keep jobs going and benefit a large community. >> at a time when boeing is doing fabulousry well, youre asking our members to make serious financial concessions. >> reporter: this was the deal that they got in the end, the contract runs from 2016 to 2024. it replaces their current pension plan with a 401(k) type of plan. there is a $10,000 signing bonus and t...

Chris, he was one of the place where is we saw some of the worst infrastructures in terms of disenfranchising voters in the last presidential election. >> i think governor corbett is done. >> okay. >> i dont think theres any way literally -- if you look at the polling, hes kind of a trifecta of all bad polling. hes got bad approval numbers, bad head to head numbers against all his potential democratic opponents, and hes got bad kind of favorability numbers. im not sure how he overcomes it. hes j...

Fund all sort of union pensions precisely because investors know that if their debt they wont get burned. if we let investors and city and state get burned, they will be less likely to fund and market forces will rain in a positive way. >> steve, that would create a huge hole in the economy. im wondering how do we reign in the public sector unions right now in. >> i think the very fact that cities are on the brink of a crisis. that ruling in detroit, by a federal judge, that said public pensions...

Postal service is the way to do it. how would you get there, and id like your take on how would you get there, and how important is it as you see it, to make sure they hold on to saturday delivery? >> well, first of all, how we get there, theres a bill that my colleague, congressman dan mafay from new york has introduced that i have co sponsored that would restore the military pension coala cut, a 1% cut for military pensions up until age 62. it would restore that $6 billion cut over ten years b...

Traditional pensions. is this a foreshadowing of more profitable companies winning the arm wrestling with yup ones. they are doing well right now. they are making a lot of money and amounsed a buyback. but this is interesting because you are going to see this play out all the time. unions are slowly but surely losing their power. they are going to try to find ways that they can cut costs. i wish i was advising this union. you are better off taking a 401 k plan versus a 401 k plan. they do better...

Elsewhere where it is not accepted. >> if the membership doesnt like it, they will reject it. it shouldnt be up to one person to decide, i am not going to put this to a vote. >> reporter: the local union held a rally and urging a no vote. what boeing is doing they say is extortion of the the current contract goes two more years. but in order to guarantee their jobs they want to switch pensions and a 401 k plan. securing production would mean tens of thousands of good paying jobs for years to com...

>> stockton became the largest city in the country to start bankruptcy proceedings. >> the largest american city ever to file for bankruptcy. >> municipal bankruptcy, or chapter 9, can be broken down into three parts, the good, the bad, and the ugly. first the good. bankruptcy allows a city to restructure their debt while ensuring the most basic city services can continue. it lets the city renegotiate union contracts, pensions, and benefits, a huge relief to any city struggling under the weight ...

Ball-drop ceremony. >> another california city is on the brink of collapse. the reason? bloated police pensions. >> the city is desert hot spring. its 2013 budget revealing about $7 million in the citys $10.6 million annual payroll goes to the 39-member police force. thats more than 66% of their budget. are other countries -- cities across the country at risk? >> the host of "varney and company" staoufrt -- stuart varney is here to explain this. i was reading police officers as young as 50 can r...

To go the distance with you. call now to request your free decision guide. welcome back. in the "crossfire" tonight, hillary rosen and kevin madden. remember that bipartisan budget deal that they passed. they could seem to handle the blowback in the growth rate in military pensions. let me explain this to you. many of the retirees are in their 40s, earning another full-time living in another job. now that the two-income earners you are are are outraged some reps are caving in. somehow benefit ...