If You are referring

Re: rebuild, renew -- brownhound
Posted by savvvvvywhat , Sun, Dec 24, 2017, 09:39:39 Post ReplyTop of ThreadReviews by savvvvvywhatFirst Amendment Message BoardMain BigDoggie.net site

If you are referring to the Pension Guaranty Benefits Fund then your fear of tax payers being "dragged" into it are baseless. The PBGF is funded by premiums paid by the plans it insures, investment income from those premiums, and the assets acquired from failed pension plans. Not all private pension plans are covered, only those that participate and pay premiums. Since it's inception in the mid-1970's it's never required any tax payer monies even though it has covered several thousand failed pension plans. The PGBF doesn't pay 100% of the benefits for failed pension plans and if it were to get a wave of failures they would likely reduce the payments to meet the demand.

Crisis averted.

Of course there's always the fear that tax payer monies could be "dragged" into bank failures again due to large real estate developers filing bankruptcy after project failures. We need to get over leveraged properties back on stable footing (SEE: 666 West 5th Avenue, NYC).

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