Pensions: ‘Don’t cut me; I’m not fat’

Tue, 10/25/2005 - 4:13pm
By: Letters to the ...

Don’t cut me, I’m not fat.

Last week I read and heard from a number of national media sources a story about the Pension Benefits Guarantee Corporation possibly refusing or rejecting a bankruptcy court judge’s decision to allow United Airlines to unload their pension plan, claiming in so many words they couldn’t afford to absorb that kind of cost.

I’m a recently retired Delta employee. That possible development scared and depressed me.

The Pension Benefits Guarantee Corporation is already underfunded. Republicans in Congress are looking for for fat to cut in order to reduce the budget deficit. The PBGC would be become a paper fiction if its funding were cut even more.

If my memory serves me, the Pension Benefits Guarantee Corporation was created by Congress after the Eastern Airlines/Frank Lorenzo tragedy. How could anybody familiar with the challenges of operating an airline, i.e., fuel costs, seriously consider cutting or underfunding this important social safety net?

William L. Gaskins
Tyrone, Ga.

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ManofGreatLogic's picture
Submitted by ManofGreatLogic on Fri, 10/28/2005 - 10:10pm.

As Americans, we have this notion that we can retire in our fifties and live a lavish lifestyle on a healthy pension well into our eighties and beyond.

Get real.

Throughout history, a pension was assigned to a person who COULDN'T work any longer, not to a person who didn't want to work.

Keep working until you no longer can, and then your pension will serve you well.

The idea that our retirement should last as long as our careers did is just selfish foolishness, and is a product of the Baby Boomer generation, the first American generation that never had to sacrifice.

The safety net you refer to has so many holes that it's about to rip wide open, dumping a LOT of people on the ground. But that's okay, because most of them can get off their lazy butts and go back to work.


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