These business laws needs changing when pension funds exist in a business involving workers and for the government of citizens…
First step, acquire or open a business, drain what assets (including pension fund then turn over to government PGCD), assets can be used to operate business for future profits or bankrupt it for tax benefit, perfectly legal through our court system. Last step, either sell what’s left of business for additional profit or close business and use as tax right off, whichever nets more money through either private or government means out of the business.
5 replies (most recent on top)
@6lsd+1jrDHmAh, your an infant intellectually
5dua+1jrDHmAh Eastern Airlines filed bankruptcy as its pension fund. All funds must bankrupt before going to PBGC. When a company bankrupts its pension obligations, PBGC pays the pension IN MOST CASES. NOT ALL, it depends upon the deficit of the pension plan. Right now, 16% of plans benefits are cut by 25%. But not to fear as ur plan could be sold to a private insurance company that are invested in short term gain. Lay off the company koolaid, u have drank too much as u are staggering in your factual cognitive abilities and research.
@5uou+1jrDHmAh : The minimum PBGC guarantee is $ 6750 a month. FULLY INSURED.
Your talking about the Eastern Airlines that folded in 1991? See you at 911, Kennedy Assignation and Men on Mars conspiracy meetings soon!
PBGC is just another underfunded government program because of all the previous decades of years of defaulted pension funds. My first experience was in 1989 with the shister Victor Posner who died behind bars several years ago. My last experience has been with Eastern Airlines, Coal Miners, Teamsters, the list goes on and on. Do your own research on pension funds and the business laws that can’t possibly cover every unethical move a business decides to do. Just because you don’t know anything about it doesn’t mean it doesn’t exist.
Foolish article! Laws protect this stuff already. The PBGC guarantees pensions. What are you talking about? Give me an example over the past decade or so. If a buyer wants to take excess funding and dividend it back to stockholders or reinvest in the company, provided pension cost are covered is fine