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If IBM can't pay the pensions that it promised, IBM pensioners take the hit. Have you heard of the Pension Benefit Guarantee Corporation?
by BearOfNH 17y ago
If IBM can't pay the pensions that it promised, IBM pensioners take the hit.
Have you heard of the Pension Benefit Guarantee Corporation?
- anamax 17y ago> Have you heard of the Pension Benefit Guarantee Corporation? Yes, I have. It's largely funded by companies that offer pensions - it's a huge problem that it isn't completely funded that way. That's not an argument for increasing its taxpayer funding. Also, the first thing that it does is cut pension benefits. I'm the only one who is going to pay for my retirement, so I've little sympathy for folks who think that I should pay for theirs. If you're in a giving mood, feel free to kick in some money for me. If you're not willing to do that, what's the argument that I should pay for someone else's?