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by lotsofpulp
511 days ago
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Even insured, they constantly require bailouts by federal Congress because PBGC can’t handle the load, depending on the political influence of the group being bailed out. Auto manufacturing, teamsters, coal miners, etc. Only question is how much pull your group has in Congress. https://www.nytimes.com/2019/12/24/business/coal-miner-pensi... https://www.cnn.com/2022/12/08/politics/biden-union-pension-... The biggest pension (and IRA/401k) bailout, however, is the implicit backstop the US provides the public equity markets. Might as well cut out the middleman and own the inflation protected asset yourself rather than accept a defined benefit in someone else’s control. |
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