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alstry (35.42)

Pensions 2 Paupers.....1.01.10

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February 01, 2010 – Comments (8)

Another 2,900 Delphi Corp. salaried retirees soon will receive letters disclosing the amount of cuts in their pensions that will go into effect on March 1.

The Delphi Salaried Retirees Association said on its Website that the reductions are expected to be “staggering” for those affected — retirees younger than 62 with supplements.

Estimates range from 32 percent for retirees 61 years-old to 50 percent for 50 year-olds.

The letters were being sent Feb. 1 by the federal Pension Benefit Guaranty Corp., which took over the pensions from Delphi as one of the arrangements allowing the auto parts supplier to emerge last October from four years of bankruptcy protection.

AS I HAVE STATED IN A NUMBER OF  EARLIER BLOGS....IF YOU ARE NOT PREPARED FOR A 50% DROP IN FAMILY INCOME.....YOU ARE NOT PREPARED.

8 Comments – Post Your Own

#1) On February 01, 2010 at 2:45 PM, jason2713 (< 20) wrote:

Link to this article?

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#2) On February 01, 2010 at 2:48 PM, alstry (35.42) wrote:

You actually think the above came from an article and wasn't something Alstry just made up?????

http://www.bizjournals.com/buffalo/stories/2010/02/01/daily9.html?surround=lfn

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#3) On February 01, 2010 at 2:53 PM, Evlampius (< 20) wrote:

just to make sure... you know its 2.01.10 , right?

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#4) On February 01, 2010 at 2:54 PM, jddubya (< 20) wrote:

50% of a pension for a 50 yr old is not likely 50% of that persons income.  Whack conclusion, as usual.

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#5) On February 01, 2010 at 2:58 PM, alstry (35.42) wrote:

Yup....and it all started to happen on 1.01.10.....and now its happening....really fast don't ya think????

MORE SHIPS AND MISSILES TO MIDEAST; IRAN THREAT...


AHMADINEJAD: 'Iran to deliver telling blow to global powers on Feb. 11'...


Pentagon Expands Defenses in Persian Gulf...

US MISSILE TEST MIMICKING IRAN STRIKE FAILS

A Majority Of States Are Now Insolvent: Quantifying The Disastrous Unemployment Situation

OBAMA 2011 BUDGET: $3.83 TRILLION IN SPENDING...

Would impose host of tax increases...

 

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#6) On February 01, 2010 at 3:06 PM, alstry (35.42) wrote:

Barak: Without Syria peace, we could be headed for all-out war

Colorado Springs cuts into services considered basic by many

Massive Layoffs Coming in NYC, Nevada, California, Colorado, Arizona, Everywhere

When elected officials and  bankers become monarchs....you know we got issues...

MILITARY JETS USED TO SHUTTLE PELOSI FAMILY, IN-LAWS?

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#7) On February 01, 2010 at 3:27 PM, jason2713 (< 20) wrote:

This link is broken

 A Majority Of States Are Now Insolvent: Quantifying The Disastrous Unemployment Situation

 

Repost, and no, I don't think you're a liar...I just wanted to read what you're posting, not just the headlines.

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#8) On February 01, 2010 at 3:35 PM, alstry (35.42) wrote:

The link is from Zero Hedge......I am not sure why there are so many technical difficulties...try this

http://www.zerohedge.com/article/majority-states-are-now-insolvent-quantifying-disastrous-unemployment-situation

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