Zarniwoop wrote:NYBF wrote:http://time.com/5279039/scot-peterson-parkland-pension/
Retired and pulling in $100+K a year at 55. Not a bad gig.
Nothing like gov't jobs and their ridiculous pensions...regardless of job performance.
At least in the private sector idiotic companies that did these kinds of pension schemes mostly have gone under (Detroit is next). My grandmother was receiving pension checks from LTV steel till she died when she was 96 from my grandfather's years of service there. How in the world could business leaders ever have thought these types of pensions were sustainable? They are basically pyramid schemes
I don't think it was so much companies as it was unions. The power of unions grew exponentially as the years progressed after WWI. It got to the point that a company couldn't operate without the blessing of the unions. I believe the 70's is when union power reached its peak. The slow turn back began with the Reagan presidency in the 80's, starting with his firing of air traffic controllers that went out on strike. As economies became more global, many unions were forced to, either cede power back to companies, or see their members companies forced into bankruptcy which, of course, would benefit no one.
