Page 866 - Pensions News Today

We cant afford the business model if there is one doesnt work. private companies -- this company, the postal service is swimming in red ink. >> eric: postmaster general, $512,000. he makes more than the president of the united states. >> he is one guy. lets talk about the 400,000 postal workers, largest employer of veterans, large employer of minorities. these are middle-class jobs not $500,000 a year jobs. >> its $28,000 and take it divide it by the employees, its $82,000. jonathan, what about ...

Put more and more money in the pension funds and have less money for what? hiring people. >> alisyn: the byproduct that employment will be hurt as they have to pad the pension funds. >> its what we see all the time, unintended consequences of federal policy. federal reserve cut rates 12 times and consequences are piling up for the economy. fewer people are working, nobody has incentive to invest because you dont know whats coming tomorrow. >> alisyn: so some of these companies, still profitable,...

Whats the problem with pension funds? >> here is how it works and who is getting hurt. at the end of the day when interest rates are high, companies have to pony up less dough than they do right now when interest rates are now. when they record that pension obligation, its valued on the basis of where interest rates are. right now interest rates are at rock bottom so companys he contributions have to be higher and thats what youre seeing with the numbers you just saw, that doesnt moean that pens...

Veterans. its also unnecessary. this is an unnecessary move. and i dont see the collective outrage that id like to see on this, particularly from democrats. this affects workers. this affects rural and elderly americans. this is politically motivated. and it is morally wrong. it is unnecessary. we dont need to do this. now, i want darrell issa to come on this program and tell me that he thinks every business model in this country because of health care and pensions should be funded 75 years in a...

These, my friends, are middle class jobs. these are the workers who fought to get the progressive agenda up and running in 2012. and hold it right there, president obama, these are your people. these are your minority workers out there, veterans. you know the post office hires more veterans than any other employer in the country? i thought we supported our veterans. its also unnecessary. this is an unnecessary move. and i dont see the collective outrage that id like to see on this, particularly ...

Congress has for years forced the united states postal service to prefund 75 years worth of pensions for its employees, a requirement not made of any other public or private institution. this is without a doubt the root of the problem. no doubt about it. postmaster general pat donahue finally put the blame where its supposed to be. >> and of the $15.9 billion loss, $11.1 billion was due to the amount that we are obligated to pay the treasury to prefund retiree health benefits. we had to default ...

Taxes, and it doesnt seem to be working. whats the story? >> yeah. a very familiar story and kind of a microcosm for what were seeing as a nation. baltimore has double the property tax of any other jurisdiction in the state. they tax their income at the maximum level. they nickel and dime everyone that lives in the city, and yet theyre in a financial ruin, and theyve done all that they can from the tax side and done nothing from the spending side. theyre looking at billions of dollars worth of d...

The volume from 1985 before e-mail, they probably could have. its the same problem that a lot of governments, state governments and also some big industries ran into such as detroit where theyre paying these pensions as if these hey days are going to last forever, and theyre imagining theyre never going to get competition because they have these laws protecting them from mail competition, but then something called e-mail comes along, and all of a sudden they have much cheaper competition and the...

Any unclaimed property -- anywhere. come o. i know you went online. you can pass it to your heirs. >> your money is still your money. it is now most likely held by the state and its being used by them. but if there is money that you rightfully inherited, you still rightfully, legally own it. have you to claim it. no one is going to knock on your door and say, hey, your relative left you this. instead, you need to knock on their door. >> another big thing is pensions. people forget they have accr...

Out an extra $95 million over the life of those bonds. and it gets worse from there. >>brian: they only have themselves to blame? >> yes because they cannot come to an agreement on how to deal with their massive pensions for their retired state workers. they cant come to grips with it. >>gretchen: when we first started talking about illinois being in so much debt, they were talking about this 67% tax increase on the people who live in that state. what ramifications will this now have on that tax...