On 4/18/10 1:07 PM, Canuck57 wrote:
On 18/04/2010 9:49 AM, hk wrote:

It's best to have available a variety of pensions and pension saving
devices.

Maybe. But always good to keep any eye on them and take them with you.


There are a long list of companies that messed up pensions, Enron,
NorTel, GM, Chrysler, Delco...


That's why I don't worry too much about my union pension. It's a fixed
benefit pension, and to date, there never has been a period when there
have been unfunded liabilities. Further, we through our elected officers
control the fund, not the employers, and our fund officers select our
qpams. The employers do have "represenation" on the fund board, but they
are in the minority.

The fund's contributions are comprised entirely of the money the members
have put into it, and it is portable, so long as the member is working
for a signatory contractor. Now, there have been occasions when a
contractor has failed to forward the funds for the previous week's
contributions, but he is quickly convinced *that* is not a good idea.

This method of operations is fairly typical for building trades unions.
Our predecessors learned early on not to trust management when it is
holding your money.





--
The Tea Party's teabaggers are just the Republican base by another name.