NY Teamsters Pension Becomes First To Run Out Of Money

i guess that ponzi scheme crumbled lol

 

Terrible thing for those guys who paid in all those years.

 

Seems like the mafia not running it anymore...therefore, no fresh laundered cash being brought in.

 

The Dallas police and Fireman's Pension fund has been in the news here because of the same thing. The out flow is greater than the in flow. And they are paying the retirees 8-10% on their money and investing in 2-5% bonds. And retirees that are at lieutenant or above can take their money out in one lump sum instead of monthly installments. Almost a Billion dollars went out in lump sum payments this past year before the BOD put a stop to it.
And people call Social Security a ponzie scheme.

 

And whats worse is when it's time to vote on a new contract and they still want money for the pension that will not be there.

 

Imagine being a cf or pie driver busting your hump all night in a pos single ax spring ride cabover and being tossed out like the trash .
Now they find out the pension isn't worth sqaut .
Sad .

 

Yep and this is probably the tip of the ice berg.

 

No shat ....I knew some cf employees and they were hung out to dry .

 

https://www.amazon.com/Retirement-H...-1&keywords=retirement+heist+by+ellen+schultz