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Many financial and industrial companies have been bailed out with the public's money, but very few of those who had run those companies have been punished for their failures. Yes, the top managers of those companies have lost their jobs - but with a fat pension and mostly with a handsome severance payment.
A generous basic state pension is the least a civilized society should offer those who have worked hard and saved through their whole lives.
Chase your passion, not your pension.
A retired teacher paid $62,000 towards her pension and nothing, yes nothing, for full family medical, dental and vision coverage over her entire career. What will we pay her? $1.4 million in pension benefits and another $215,000 in health care benefit premiums over her lifetime.
State constitutions typically provide that the state first has to service its debt, then make it pension payments, and then pay for services. What we don't know is whether that order will be enforced. And ultimately, the busted state is going to be looking to the federal government for a bailout. Think Greece, but on a much bigger scale.
The story of Detroit's bankruptcy was simple enough: Allow capitalism to grow the city, campaign against income inequality, tax the job creators until they flee, increase government spending in order to boost employment, promise generous pension plans to keep people voting for failure. Rinse, wash and repeat.
We cannot continue. Our pension costs and health care costs for our employees are going to bankrupt this city.
One state retiree, 49 years old, paid, over the course of his entire career, a total of $124,000 towards his retirement pension and health benefits. What will we pay him? $3.3 million in pension payments over his life and nearly $500,000 for health care benefits - a total of $3.8m on a $120,000 investment.
The NFL pension is the worst in the world of business. It's an embarrassment.
My NFL pension can barely pay my son's tuition. You know, it's very little money.
O. J. Simpson
I don't know of a Democrat - whether they're a conservative, a centrist or a liberal Democrat - that doesn't think that it's important to have quality jobs that pay decent wages so that families can support themselves, so that they can have the dignity of being able to afford health care, put money aside for pension, buy a home.
I have considered the pension list of the republic a roll of honor.
I don't have a dime left. I am dependent on my friends for food and a small old-age pension.
But, at the end of the day, we need to represent the taxpayers who have made enormous sacrifices. Many have lost their jobs. Many of them have seen their companies - they don't have a pension - they have seen their companies cut the match for their 401(k). They have seen their health care benefits be shredded.
Every penny from 'Gossip Girl,' my pension, my stocks has been spent fighting for my children.
They said it was impossible to touch the third rail of politics, to take on public-sector unions and to reform a pension and health benefits system that was headed to bankruptcy. But with bipartisan leadership, we saved taxpayers $132 billion dollars over 30 years and saved retirees their pensions. We did it.
My dad loves what I do and I support my parents financially because they didn't have a job that gave them a pension.
However my parents - both of whom came from impoverished backgrounds and neither of whom had been to college, took the view that my overactive imagination was an amusing quirk that would never pay a mortgage or secure a pension.
J. K. Rowling
Under Reagan came the idea of putting your pension plan in the stock market, which wasn't a guaranteed pension.
A pension is nothing more than deferred compensation.
Contrary to what those in power would like you to believe so that you'll give up your pension, cut your wages, and settle for the life your great-grandparents had, America is not broke. Not by a long shot. The country is awash in wealth and cash.
You can't have bank holding companies acting as hedge funds. You can't have them taking a million-dollar pension plan for Joe Schmo the bus driver and treat it with the same risk appetite that you treat George Soros' pocket money. It's fundamentally ridiculous.
A small pay discrepancy between men's and women's salaries for the same job may seem inconsequential. But over the years, salary discrimination adds up to a significantly smaller pension.
Madeleine M. Kunin
Imagine if the pension funds and endowments that own much of the equity in our financial services companies demanded that those companies revisit the way mortgages were marketed to those without adequate skills to understand the products they were being sold. Management would have to change the way things were done.
If Britain is to have a stable, affordable pension system, people need to work longer, but we will reward their hard work with a decent state pension that will enable them to enjoy quality of life in their retirement.
Iain Duncan Smith
Well British pension funds have not been investing the savings of British people in British infrastructure.
Martin Luther King, Jr.
Leonardo da Vinci
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Love... it surrounds every being and extends slowly to embrace all that shall be.
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