Sky wrote:
> Dave Smith wrote:
> (snipperdoodles)
>> . . . . . Most of them are retired people filling in
>> their days and supplementing pensions by doing a job that someone who
>> really needs a job could be doing, and for a decent wage instead of one
>> that really doesn't matter to the old fart who just wants to get out of the
>> house.
>
> Unfortunately, I bet a whole bunch of those geriatric greeters at Wally
> World (and "Demo Dollies", too!) "have" to work that job or take other
> forms of employment. It's a sad state for many elders (in the US) on
> social security and/or other types of fixed pensions because they have
> no choice and need to work to supplement their meager incomes.
> Retirement is not an option for them, although I'm quite sure they'd
> much rather enjoy their "golden years." It's unwise to assume they're
> there to get out of their homes just for the fun of it, although that is
> sometimes the case.
>
> Sky, who's stepping off the soap box
>
I know someone who is that exact position.

Years ago pensions used to be a free for all and companies held the
money and did with it as they wished. If the company disappeared so did
the pension. Then the gov't required companies to give the money to a
trustee which protected it if the company disappeared etc. Sometime in
the early 90s companies lobbied the government that they would really
like to be able to use this money and the requirements were changed to
allow that claimed since future earnings would pay for the pensions.

Fast forward a few years. A number of companies decided that they didn't
want to pay these pensions even though they agreed to do it in exchange
for being able to use the money so they filed bankruptcy which instantly
relieved them of paying. The government had to step in and divvy up the
little money that was left and add some more from the taxpayers in order
to pay a portion of the pensions.

My buddies older sister was just ready to retire and her employer filled
bankruptcy to run away from paying pensions etc. She is getting 41% of
what she was supposed to get. A 60% reduction is quite a kick in the
face. She has taken one of those jobs because the big reduction hurt
her.